You can redeem your Points for a variety of reward options, including a cash deposit into eligible Fidelity account(s), travel, merchandise, gift cards, or statement credit. The 2% cash back value applies only to Points redeemed for a deposit into an eligible Fidelity account. The redemption value is different if you choose to redeem your Points for other rewards.
If you're an existing cardmember, please refer to your program rules for specific rewards details.