Published April 6, 2024
Fact Checked
Nathan Alderman
Fifth Third Bank offers three different cash back cards with solid rewards rates. All three have no annual fee and other key features. Read our full Fifth Third Bank credit cards review to see if one of them could be a good fit for you.
Full Fifth Third Bank credit cards review
This credit card is a good fit for: People who are looking for a basic cash back credit card, especially those who already have a banking relationship with Fifth Third Bank.
Top perks
Fifth Third Bank's credit cards are primarily focused on cash back rewards, and there are some perks that you might find attractive.
Three different cash back credit cards
Fifth Third Bank has three different cash back credit cards currently available:
- Fifth Third 1.67% Cash/Back Card: The 1.67% cash back rate might sound odd, but it's a play on the bank's name (five-thirds of one percent). It earns this rewards rate on every purchase, has no annual fee, and has no foreign transaction fees.
- Fifth Third 1% Cash/Back Card: The Fifth Third 1% Cash/Back Card has a lower 1% cash back rate, but also has an intro APR of 0%, 21 billing cycles on both purchases and balance transfers. It also has no annual fee or foreign transaction fees.
- Fifth Third Preferred Cash/Back Card: The Fifth Third Preferred Cash/Back Card offers unlimited 2% cash back on all purchases. However, it is only open to Fifth Third Preferred Banking clients.
In addition to the three cash back credit cards offered by Fifth Third Bank, there's also the Fifth Third Secured Card that is designed for people who need to build or rebuild their credit. The secured credit card requires a deposit equal to your desired credit limit (at least $300), has a $24 annual fee, and works just like a regular credit card.
No annual fees
All three of Fifth Third Bank's cash back credit cards have no annual fees. The bank's secured card has a $24 annual fee, but this is rather low compared to some competing products.
No foreign transaction fees
This is a perk that is more often seen in travel-focused credit cards and can be valuable if you regularly travel overseas. Many credit cards (especially those without annual fees) charge an additional fee of about 3% for foreign transactions, which can add up if you take several overseas trips each year.
0% intro APR available
The 0%, 21 billing cycles intro APR from the Fifth Third 1% Cash/Back Card is one of the best offers in the industry, especially since it applies to both purchases and balance transfers. However, it's important to note that balance transfers have a fee, which is in line with most competitors. This card's is $5 or 4% of the amount of each transfer, whichever is greater.
Credit card comparison
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
| Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
|---|---|---|---|---|---|
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Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Discover will match all the cash back you've earned at the end of your first year. N/A | 1% - 5% Cashback Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 17.24% - 28.24% Variable APR |
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Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Up to $300 cash back Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases. | 1.5% - 5% cash back Enjoy 5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases |
Intro: 0% Intro APR on Purchases and Balance Transfers for 15 months Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months Regular: 20.49% - 29.24% Variable |
Apply Now for Chase Freedom Unlimited®
On Chase's Secure Website. |
|
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
75,000 bonus points Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠. | 5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. |
Intro: N/A Purchases: N/A Balance Transfers: N/A Regular: 21.49%-28.49% Variable |
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
What could be improved
As mentioned in the previous section, the Fifth Third Bank credit cards aren't the most competitive cash back credit card products in the market. Here are a few of the reasons why.
2% cash back card isn't available to everyone
While the 2% cash back rate from the Fifth Third Preferred Cash/Back Card is in line with industry leaders, it is only available to customers who have a Preferred Banking relationship with Fifth Third Bank. Meanwhile, there are some excellent 2% cash back credit cards available that don't require you to have a banking relationship.
Better cash back rates and intro perks may be available
There are some great credit cards in the market that not only have a 2% cash back rate on all purchases, but that also have excellent 0% intro APR offers on purchases and balance transfers. Fifth Third Bank only offers a 0% intro APR on its lowest-earning cash back card.
Few unique benefits
While it is common for no annual fee credit cards to offer little more than a rewards program, there are some that offer some unique perks. For example, there are some no-fee credit cards that give customers access to their FICO® Score, concert ticket pre-sales, benefits on hotel stays, and more.
No welcome offers
One of the biggest drawbacks to the Fifth Third Bank credit cards is that none of them advertise a welcome bonus. There are some no annual fee credit cards on our radar that offer $200 or more after meeting certain spending thresholds, and this can be a big differentiator when opening a new credit card.
Suggested credit score
With the exception of the secured credit card, we'd suggest having an above average credit score to apply for the Fifth Third Bank credit cards, which can be loosely defined as a FICO® Score of 700 or more. However, other factors such as your income and other debts are considered when applying, so it's entirely possible to get approved with a lower credit score or rejected with a higher score.
A Fifth Third Bank credit card is right for you if:
The cash back credit cards offered by Fifth Third Bank are best suited for people who have a Preferred Banking relationship with Fifth Third Bank and can qualify for the Fifth Third Preferred Cash/Back Card. Or, they can be solid products for people who simply want a basic cash back credit card.
Our credit card methodology
At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.
FAQs
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Fifth Third Bank offers three different cash back credit cards. The most competitive is the Fifth Third Bank Fifth Third Preferred Cash/Back Card, which offers a 2% cash back rate on all purchases, but it is only available to Fifth Third's Preferred Banking customers.
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Fifth Third Preferred Banking is a relationship benefit program offered to Fifth Third Bank customers, and is designed for people with relatively high account balances of $100,000 or more between deposit and investment accounts.
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Fifth Third Bank offers a total of four credit cards as of November 2023. It has three different cash back credit cards -- the Fifth Third 1.67% Cash/Back Card, the Fifth Third 1% Cash/Back Card, and the Fifth Third Preferred Cash/Back Card. It also offers a secured credit card for people trying to establish or reestablish credit.
Our Credit Cards Experts
Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for The Ascent and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column ("Ask a Fool") that is syndicated in USA Today, and his work has been regularly featured on CNBC, Fox Business, MSN Money, and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.
Fact Checked
Nathan Alderman
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
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