Your Fidelity Card Stops Covering Your Purchases on January 1. Nobody Has to Mail You a Notice.

If you carry the Fidelity Rewards Visa Signature and you’ve been treating it as the card you put expensive things on, that stops working on January 1.

Two benefits end that day. Purchase Security, which replaces or repairs eligible items for 90 days after you buy them, up to $500 a claim and $50,000 per cardholder. And Lost Luggage Reimbursement, which pays up to $3,000 when checked or carry-on bags disappear on a trip you charged to the card.

You won’t get a letter about it.

Here’s how you find out instead. Elan Financial Services, the issuer, published an updated Guide to Benefits covering the benefits in effect as of July 1, 2026. The change is one sentence, sitting directly above the Purchase Security terms on page 2 of a 19-page PDF: “Effective January 1, 2027, this benefit will no longer be available.” The identical sentence appears again on page 6, above Lost Luggage Reimbursement. That’s the announcement.

$500 per claim, $50,000 per cardholder, 90 days from purchase: what Purchase Security covers until December 31 (Fidelity Visa Signature Guide to Benefits, benefits in effect as of July 1, 2026).

Why no notice? Because the law that makes an issuer warn you before a change only protects the numbers. Regulation Z, section 1026.9(c)(2), requires 45 days of advance written notice for a significant change in account terms, and it defines that as a change to the terms in your account-opening summary table, an increase in your minimum payment, or a new security interest. Your APRs and your fees live in that table. Purchase protection and luggage coverage don’t.

Translation: the rule protects the price of the card, not the product.

Worth closing the account over? No. The reason to hold this card is 2 percent cash back swept into a Fidelity account with no annual fee, and none of that moved. Your Mileage May Vary, which reported the cardholder notice, says Elan is adding travel benefits in their place, including emergency medical and dental coverage and a year of National Car Rental Emerald Club Executive status you have to enroll in by December 31, 2026. Those aren’t in Fidelity’s published guide yet, so treat them as reported, not confirmed.

But if you were counting on Purchase Security for the laptop or the e-bike you’re buying this fall, look at what you actually have. Five hundred dollars a claim isn’t a fortune. It’s also more than your homeowners or renters policy will ever hand you on a mid-size item, because the deductible swallows the claim. That gap is precisely the one Purchase Security filled.

So do three things before the year ends.

Call the Benefit Administrator at 800-397-9010 and ask one question: if I buy something in December, does the 90-day Purchase Security window survive into January? The guide doesn’t answer it. Get the answer, and get the name of the person who gave it to you.

Check the rest of your wallet before any large purchase. Purchase protection still exists at some issuers. Put the expensive item on the card that still covers it and eat the difference in rewards. On a $900 laptop, giving up a point costs $9.

If you check bags, read your travel card’s luggage coverage now, at home, not at a baggage office in another time zone.

Then leave the Fidelity card alone and keep earning 2 percent. Our credit cards section walks through the rest of the wallet.

One last line, from the same PDF: your financial institution “can cancel or non-renew the benefits for cardholders, and if they do, they will notify You at least thirty (30) days in advance.” That’s the issuer’s own promise, not a legal requirement, and it sits in the travel assistance section, nowhere near the two benefits being cut. Thirty days would have been more warning than anyone got.

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