Fidelity offering cashback

Custompackagingbox

What credit score do I need to get the Fidelity Rewards Visa? The Fidelity® Rewards Visa Signature® Card requires excellent credit, generally defined as a credit score of 720 or above. Credit scores alone don't guarantee approval, though. Credit card issuers will also look at your income and other information.

Albermarle

Custompackagingbox said:

What credit score do I need to get the Fidelity Rewards Visa? The Fidelity® Rewards Visa Signature® Card requires excellent credit, generally defined as a credit score of 720 or above. Credit scores alone don't guarantee approval, though. Credit card issuers will also look at your income and other information.

This is only available in the US.

The Fidelity being discussed here is 'Fidelity Personal Investing ' part of Fidelity International, which is run separately from the US operation .

Alexland

Custompackagingbox said:

What credit score do I need to get the Fidelity Rewards Visa? The Fidelity® Rewards Visa Signature® Card requires excellent credit, generally defined as a credit score of 720 or above. Credit scores alone don't guarantee approval, though. Credit card issuers will also look at your income and other information.

No idea this is a thread about the cashback on a Fidelity SIPP pension available to UK customers.

You seem to be looking at a credit card for their US customers.

https://www.fidelity.com/cash-management/faqs-rewards-credit-cards

"Who may apply for a Fidelity Rewards Credit Card?
Anyone who resides in the United States and is 18 years or older may apply for a Fidelity® Rewards Visa Signature® Card."

NedS

I'm seriously considering moving our SIPPs which are currently with HL. We would be Wealth customers with combined assets over £250k, so would benefit from the lower 0.2% platform fee, plus we would benefit from £500 + £50 cashback for transferring.

Most of my holdings are individual shares or ITs, which have fees capped at £200 on HL but would be capped at £45 on Fidelity, so another saving. However, checking on the Fidelity platform, I can't find 3 of my holdings: CSH, GSF and THRL. Any ideas why they are not listed on the Fidelity platform?

If I try to transfer my holdings and cash balance, what will happen to the 3 holdings that are not on the Fidelity platform?

QrizB

Custompackagingbox said:

What credit score do I need to get the Fidelity Rewards Visa?

" I think, therefore I am" - Rene Descartes (1596-1650)

"I'm pink, therefore I'm SPAM"- Graham Chapman (1941-1989)

Alexland

NedS said:

I'm seriously considering moving our SIPPs which are currently with HL. We would be Wealth customers with combined assets over £250k, so would benefit from the lower 0.2% platform fee, plus we would benefit from £500 + £50 cashback for transferring.

Most of my holdings are individual shares or ITs, which have fees capped at £200 on HL but would be capped at £45 on Fidelity, so another saving. However, checking on the Fidelity platform, I can't find 3 of my holdings: CSH, GSF and THRL. Any ideas why they are not listed on the Fidelity platform?

If I try to transfer my holdings and cash balance, what will happen to the 3 holdings that are not on the Fidelity platform?

You might want to double check the Wealth requirements as I don't think they upgraded us until one of us had individually achieved £250k but it was a while ago so I don't really remember.
I just tried starting to place a trade for those 3 investments in my Fidelity SIPP and it couldn't find them. Remember that Fidelity's roots were as a funds platform and only added share dealing in recent years so maybe nobody has asked for them to be added yet. If they have not been added I guess they would need to be sold on HL and transferred as cash. You could ask Fidelity to add them before starting the transfer but you might miss the deadline for starting the transfer under this cashback offer although it will likely be offered again next year.
You might find AJ Bell would be a better choice if you want lower charges than HL but still have a wide choice of pre-setup exchange traded assets. I find the £1.50 scheduled trade feature at AJ Bell a lot more flexible than when our LISAs were with HL where the choice was limited and it had to be linked to a regular contribution rather than just using the account cash balance.

NedS

Alexland said:

NedS said:

I'm seriously considering moving our SIPPs which are currently with HL. We would be Wealth customers with combined assets over £250k, so would benefit from the lower 0.2% platform fee, plus we would benefit from £500 + £50 cashback for transferring.

Most of my holdings are individual shares or ITs, which have fees capped at £200 on HL but would be capped at £45 on Fidelity, so another saving. However, checking on the Fidelity platform, I can't find 3 of my holdings: CSH, GSF and THRL. Any ideas why they are not listed on the Fidelity platform?

If I try to transfer my holdings and cash balance, what will happen to the 3 holdings that are not on the Fidelity platform?

You might want to double check the Wealth requirements as I don't think they upgraded us until one of us had individually achieved £250k but it was a while ago so I don't really remember.
I just tried starting to place a trade for those 3 investments in my Fidelity SIPP and it couldn't find them. Remember that Fidelity's roots were as a funds platform and only added share dealing in recent years so maybe nobody has asked for them to be added yet. If they have not been added I guess they would need to be sold on HL and transferred as cash. You could ask Fidelity to add them before starting the transfer but you might miss the deadline for starting the transfer under this cashback offer although it will likely be offered again next year.
You might find AJ Bell would be a better choice if you want lower charges than HL but still have a wide choice of pre-setup exchange traded assets. I find the £1.50 scheduled trade feature at AJ Bell a lot more flexible than when our LISAs were with HL where the choice was limited and it had to be linked to a regular contribution rather than just using the account cash balance.

Thanks. My SIPP should hit £250k in the next year, and to be honest I don't really plan to buy funds, but the opportunity at 0.2% at least leaves the option open at reasonable cost which my OH may well use. Reducing our capped fees from £200 to £45 per year is a decent ongoing saving which would otherwise be eating into our monthly income once we start drawing income.

I've since found one of the missing investments (CSH), and can certainly request the other two now as I already hold a small SIPP with Fidelity, opened just to see what the platform was like. Fidelity's documentation suggests any shares not available to be re-registered would be sold and transferred as cash. If they can't transfer them in specie, I think I'd rather leave them with HL than not be able to hold them in my portfolio, but I'm not sure that is an option.

I must admit, I may find a restricted choice of assets frustrating. The other feature I use a lot on HL is share price alerts, and automatic buys when a given bid price is reached (I really like the live share pricing). I will give it more thought - no need to rush to a decision as the offer is available until end of Feb 2022. I think I need to try out the platform a little more thoroughly (make some trades) before making a decision.

Alexland

NedS said:

I must admit, I may find a restricted choice of assets frustrating. The other feature I use a lot on HL is share price alerts, and automatic buys when a given bid price is reached (I really like the live share pricing)

If you are into more advanced exchange traded assets and trading techniques then Fidelity probably aren't the right platform for you so probably better to spend your time and money considering AJ Bell. Our accounts are super simple single investments in global trackers.

NedS

Alexland said:

NedS said:

I must admit, I may find a restricted choice of assets frustrating. The other feature I use a lot on HL is share price alerts, and automatic buys when a given bid price is reached (I really like the live share pricing)

If you are into more advanced exchange traded assets and trading techniques then Fidelity probably aren't the right platform for you so probably better to spend your time and money considering AJ Bell. Our accounts are super simple single investments in global trackers.

I wouldn't describe them as advanced exchange traded assets as much as I have an income portfolio of UK listed shares, ITs and REITs. Nothing advanced really, just regular FTSE listings (no leveraged ETFs etc). Now the portfolio is fairly complete, I'm mainly just reinvesting the income until I retire and start drawing it in a few years time. But I take your point and appreciate your input from your own person experiences.

Albermarle

I think it is probably fair to say that Fidelity is more suitable for buy and hold type investors .