Fifth Third 1.67% Cash/Back credit card review

Fifth Third 1.67% Money/Again Card: Overview

APR:

• Intro: 0% introductory APR with steadiness transfers for the primary 12 billing cycles after account opening. (After that, your APR will probably be 20.74%–29.99% primarily based in your creditworthiness.)
• Buy: 20.74%–29.99% variable
• Stability switch: 20.74%–29.99% variable (plus a charge of $5 or 4% of the transferred quantity, whichever is bigger)
• Money advance: 29.99% (plus $10 or 5% of the quantity of your advance, whichever is bigger)

Annual charge: $0

International transaction charge: $0

Comfort examine charge: Both $5 or 4% of the quantity of every examine, whichever is bigger

Late cost charge: As much as $40

Minimal curiosity charged: $1.50

The Fifth Third 1.67% Money/Again Card is a largely vanilla money again bank card. It’s received a hard and fast 1.67% incomes charge on all purchases with the choice to redeem for both a direct deposit or an announcement credit score in your card. This super-simple method could also be an enormous draw for some—however it may be a deterrent for others. Its one-dimensional method implies that it’s inconceivable to get outsized worth to your rewards.

Many bank cards tack on as much as 3% of your complete abroad spending. The Fifth Third 1.67% Card waives these international transaction charges, so it’s companion for worldwide journeys. It additionally doesn’t cost an annual charge, which suggests it might proceed to profit your credit score profile even when your bank card technique evolves away from utilizing the cardboard usually. A giant issue that makes up your credit score rating is “size of credit score historical past,” which is decided by the common age of your accounts. By conserving the  card open, your size of credit score historical past will develop even should you don’t use it (although you need to swipe it as soon as each six months to keep away from account closure on account of inactivity).

Fifth Third is a financial institution that operates primarily within the Midwest—nevertheless it has branches from Illinois to West Virginia to Florida. In the event you don’t dwell in an space the place it has bodily areas, chances are you’ll probably have by no means heard of it.

Right here’s why that’s necessary: In the event you don’t have a Fifth Third checking or financial savings account, you’re ineligible to open the Fifth Third 1.67% Money/Again Card. Solely these with a earlier relationship with the financial institution will qualify.

Fifth Third 1.67% Money/Again Card: Rewards

The Fifth Third 1.67% Card gives a novel fastened return charge for all purchases: 1.67% uncapped. Sounds random, nevertheless it ties in with the financial institution’s “Fifth Third” motif (5/3 = 1.67). That is an above common return for a no annual charge money again bank card with a flat incomes charge. Extra frequent are gives between 1% and 1.5%.

The cardboard technically earns “Rewards Factors,” that may be redeemed at a charge of 1 cent per level. While you make a purchase order, your factors earnings will probably be rounded (up or down) to the closest complete quantity. For instance, should you spend $6, you’ll earn 10.02 factors. This will probably be rounded to 10 factors.

Does Fifth Third 1.67% Money/Again Card supply a brand new buyer bonus?

The Fifth Third 1.67% Card doesn’t presently supply a welcome bonus to new members.

Find out how to redeem Fifth Third 1.67% Money/Again Card rewards

Relating to utilizing your rewards, the Fifth Third 1.67% Card doesn’t have many tips up its sleeve.

Assertion credit score

While you earn factors with the Fifth Third 1.67% Card, you should utilize them towards an announcement credit score in your card to offset your steadiness. You are able to do this instantly after the rewards are posted to your account.

Many money again bank cards require you to earn a certain quantity earlier than you’re eligible to redeem them ($25 is a typical threshold). This card doesn’t.

Direct deposit

Alternatively, you possibly can request a direct deposit into your Fifth Third checking or financial savings account should you don’t presently have a steadiness in your bank card, or should you’d like to make use of your funds in a roundabout way aside from reducing your bank card debt.

Computerized redemptions

If you wish to spend as a lot mind energy redeeming your factors as you do incomes them (i.e., none), you possibly can enroll in auto-redemption which is able to empty your full rewards steadiness into your account every month.

Further advantages

The Fifth Third 1.67% Card’s ongoing advantages aren’t jaw-dropping, however few no annual charge money again bank card advantages are. Right here’s what you possibly can anticipate:

• Mobile phone safety: In case your mobile phone is misplaced or stolen, you’ll obtain as much as $800 per declare (most two claims or $1,000 per 12-month interval) with a $50 deductible. All you’ve received to do is use the cardboard to pay your month-to-month telephone invoice. That is wonderful for a no annual charge bank card.
• Contactless funds: You need to use your card touch-free with eligible bank card terminals. You possibly can add the cardboard to Apple Pay, Google Pay, and Samsung Pay.
• Simply lock your card: The Fifth Third cellular app means that you can successfully activate and deactivate your bank card at will, just like flipping a swap. For instance, in case your card goes lacking, you possibly can instantly lock the cardboard till you discover it.
• Mastercard ID Theft Safety: Mastercard will monitor the web (together with the darkish and deep net) to search out any of your delicate data, together with compromised credentials. It is a profit that every one Mastercard bank cards prospects have.

Is the Fifth Third 1.67% Money/Again Card best for you?

It’s true: Many different bank card rewards packages have the next potential worth than the Fifth Third 1.67% Card. Incomes airline miles, lodge factors, or transferable rewards that may be transformed to journey loyalty packages can actually be value exponentially extra. The caveat is that these packages take plenty of analysis and experimentation to maximise.

The Fifth Third 1.67% Card is for many who don’t have a grasp’s diploma in bank card rewards—and aren’t fascinated about placing within the effort. With this card, you possibly can assure that you just’ll get a stable return each time you swipe the cardboard. There aren’t any catches (besides maybe the truth that you could have a Fifth Third checking or financial savings account to qualify).

Bank cards just like Fifth Third 1.67% Money/Again Card

There are many different money again bank cards that may compete with the Fifth Third 1.67% Card, a lot of which don’t require you to have a earlier relationship with the financial institution to safe an approval. Listed below are among the greatest bank cards to contemplate if the Fifth Third 1.67% Card simply isn’t doing it for you.

Capital One Quicksilver Money Rewards Credit score Card vs. Fifth Third 1.67% Money/Again Card

The no annual charge gives a vast 1.5% money again return. That is barely beneath the Fifth Third 1.67% Card, nevertheless it makes up for the deficit in different methods.

For instance, you’ll earn 5% money again on accommodations and rental vehicles booked via Capital One Journey. You’ll additionally earn $200 after spending $500 within the first 3 months from account opening. The cardboard even gives six months of free Uber One membership via Nov. 14, 2024 (in any other case $9.99 monthly).

Citi® Double Money Card vs. Fifth Third 1.67% Money/Again Card

The no annual charge earns 1% again whenever you make a purchase order and 1% again whenever you repay that buy. That’s 2% in all places, which is notably greater than the Fifth Third 1.67% Card.

The cardboard doesn’t earn a welcome bonus. And its advantages are comparatively slim. For instance, it doesn’t waive international transaction charges and it doesn’t supply mobile phone insurance coverage. If the additional 0.33% in earnings doesn’t offset these shortcomings, the Fifth Third 1.67% Card is probably going your higher possibility.

Incessantly requested questions

Is the Fifth Third 1.67% Money/Again Card value it?

The Fifth Third 1.67% Card is value it for anybody who values simplicity above all else. It’s received a stable return charge for all purchases—and since it doesn’t incur an annual charge, you’re assured to make a revenue (so long as you avoid different charges like APR and money advances).

How does a Fifth Third money again card work?

The Fifth Third 1.67% Money/Again Card gives a hard and fast 1.67% return for all purchases. You possibly can redeem them as a direct deposit into your Fifth Third checking or financial savings account, or you possibly can request {that a} assertion credit score be utilized to your card.

What’s the APR for the Fifth Third 1.67% Card?

The Fifth Third 1.67% Card comes with a 20.74%–29.99% variable APR.

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Please observe that card particulars are correct as of the publish date, however are topic to alter at any time on the discretion of the issuer. Please contact the cardboard issuer to confirm charges, charges, and advantages earlier than making use of.