Fifth Third Releases New Consumer Credit Cards

  • Credit Cards
  • 11.10.2016 01:45 pm

Fifth Third understands that consumers want simplicity in their financial lives. So today Fifth Third is introducing two new credit card products, TRIOSM and Truly SimpleSM, that are easy for consumers to understand, use, and maximize their benefits.

TRIO makes it easy to earn more rewards. Customers are automatically enrolled to earn rewards for every dollar they spend, including earning additional rewards at restaurants and gas stations, grocery stores and drug stores - the places people tend to visit most often. A recent NerdWallet survey shows that almost one-third of rewards credit card holders don’t understand how they earn or redeem their rewards.

“Understanding rewards programs should be simple,” Jimm Bell, Director of Consumer and Small Business Payments for Fifth Third Bancorp, said. “Customers don’t want to stand at a register trying to remember which card they should use based on rotating categories that change every month. They want a single card that earns great rewards where they tend to spend most. That’s why we created TRIO.”

Rewards can be redeemed for cash back as a statement credit, deposited into a Fifth Third checking or savings account, or even to pay down a Fifth Third loan or mortgage.1

TRIO features include:

  • 3% cash back rewards for every $1 spent at restaurants and 2% cash back rewards for every $1 spent on gas, and at grocery stores and drug stores, up to $1,500 spend per quarter in these combined purchase categories.1
  • Unlimited 1% cash back rewards for every $1 spent on all other purchases.1
  • $100 bonus when a new cardholder spends $1,000 in the first 90 days from account opening.2
  • No international transaction fees on purchases.3
  • No annual fee.3

For consumers looking for a lower rate on their cards for large purchases or for paying down balances, the Bank now offers the Truly Simple Credit Card.

Truly Simple features include:

  • 0% introductory offer on purchases and balance transfers for 15 billing cycles from account opening. After that, your variable APR will be 12.24% to 23.24%, based upon your creditworthiness.4
  • No annual fee.4

“Consumer habits show that people don’t want to switch cards all the time,” Bell said. “The Truly Simple Credit Card offers a competitive rate and no surprise fees.”

1. See Rewards Terms and Conditions at 53.com/rewards for additional details.

2. New Account Bonus Offer: Offer not available to existing Fifth Third consumer credit card customers or those with a Fifth Third consumer credit card account that has been closed within the last 12 months prior to account opening. To qualify for the new account bonus worth $100, you must make purchases totaling $1,000 or more during the first 90 days from account opening. Upon reaching the purchase qualification, you will receive 10,000 Real Life Rewards Points which can be redeemed for $100 cash back. Qualifying purchases are defined in disclosure #2 above. Please allow 6 to 8 weeks after reaching the purchase qualification for points to be awarded. Your account must be open and in good standing at the time the bonus points are awarded. Bonus points awarded may be subject to tax and you should consult your tax advisor to determine tax requirements.

3. Trio product terms: Variable APR will be 14.24% to 23.24%, based upon your creditworthiness. Variable APRs change with the market based on the Prime Rate. Cash Advance variable APR: 25.24%. Annual Fee: None. Balance Transfer Fee either $5 or 4% of the amount of each transfer, whichever is greater. Cash Advance Fee either $5 or 4% of the amount of each Cash Advance, whichever is greater. Convenience Check Fee either $5 or 4% of the amount of each check, whichever is greater. International Transaction Fee: None. Late Payment Fee of up to $35. Minimum interest charge is $1.00.

4. Truly Simple product terms: Variable APR will be 12.24% to 23.24%, based upon your creditworthiness. Variable APRs change with the market based on the Prime Rate. Cash Advance variable APR: 25.24%. Annual Fee: None. Balance Transfer Fee either $5 or 4% of the amount of each transfer, whichever is greater. Cash Advance Fee either $5 or 4% of the amount of each Cash Advance, whichever is greater. Convenience Check Fee either $5 or 4% of the amount of each check, whichever is greater. International Transaction Fee of 3% of each Transaction in U.S. dollars. Late Payment Fee of up to $35. Minimum interest charged is $1.00.

Credit Cards subject to credit review and approval. Rates determined by creditworthiness of applicant.

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