Fidelity Credit Card Reward Auto Deposit Date

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baxterbones
Posts: 24
Joined: Thu Mar 28, 2019 9:09 am

Fidelity Credit Card Reward Auto Deposit Date

Post by baxterbones »

For those who have the Fidelity 2% card with automatic redemptions deposited into their Fidelity brokerage, when after a statement date will your rewards be redeemed?

My third statement posted today and I had set up rewards to be auto redeemed.

Thank you all!
brokendirtdart
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Joined: Mon Jan 02, 2017 8:27 pm
Location: USA!

Re: Fidelity Credit Card Reward Auto Deposit Date

Post by brokendirtdart »

Most recent example:
Statement: 2/25/2021
Reward Redemption History in account: 2/27/2021
Deposited into Brokerage: 3/02/2021

I have auto redemption enabled.

Question-do you meet the minimum points to redeem?
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baxterbones
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Re: Fidelity Credit Card Reward Auto Deposit Date

Post by baxterbones »

brokendirtdart wrote: Wed Apr 07, 2021 7:48 am Most recent example:
Statement: 2/25/2021
Reward Redemption History in account: 2/27/2021
Deposited into Brokerage: 3/02/2021

I have auto redemption enabled.

Question-do you meet the minimum points to redeem?
Thank you for the detailed example. Yes, I met and minimum and received the $150 signup bonus too on this statement!
lstone19
Posts: 1112
Joined: Fri Nov 03, 2017 3:33 pm

Re: Fidelity Credit Card Reward Auto Deposit Date

Post by lstone19 »

My statement normally closes two to three days earlier than the example above but I also see the deposit to the brokerage account on the 2nd. So they may do a periodic sweep. But once setting up auto-redemption, I've never had to worry about it.
MrJedi
Posts: 589
Joined: Wed May 06, 2020 11:42 am

Re: Fidelity Credit Card Reward Auto Deposit Date

Post by MrJedi »

The rewards post the day after your statement closes into your rewards account. The auto redemption into a Fidelity account occurs on the last day of each month, and then it appears in the actual Fidelity account a couple days after redemption.

One subtlety I've noticed that you may care about if having loose rewards hanging around bugs you: if your statement closes at the beginning of the month, your rewards will post at the beginning and miss the auto redemption that occurs at the end of the prior month. They end up getting auto redeemed at the end of the current month. So you might have rewards sitting around for nearly a full month depending on your statement cycle. You can change your statement cycle by calling or messaging Elan (I do this anyway to coordinate due dates with my income).
Last edited by MrJedi on Wed Apr 07, 2021 9:48 am, edited 1 time in total.
2cents2
Posts: 509
Joined: Sun Mar 02, 2014 11:31 am

Re: Fidelity Credit Card Reward Auto Deposit Date

Post by 2cents2 »

There is a also a Redeem on Demand option which you can use as soon as the points post to your account (assuming you meet the minimum requirement of points).

I started using the redeem on demand option when I discovered the automatic deposit didn't work like I expected it to work.
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