Fifth Third Bank Expands Cash/Back Credit Card Suite

Rhea-AI Summary

Fifth Third Bank has launched a new 1% Cash/Back Card, enhancing its cash-back credit card lineup. The card features an introductory 0% APR for 21 months on purchases and balance transfers, making it versatile for various financial needs. Customers will earn unlimited 1% cash back on all purchases without an annual fee. This launch aims to meet diverse customer demands while positioning Fifth Third competitively in the credit market.

Positive

• Launch of the 1% Cash/Back Card with 0% APR for 21 months on purchases and balance transfers.
• Unlimited 1% cash back on all purchases with no annual fee.
• Expansion of cash-back lineup to cater to various customer financial needs.

Negative

• None.

Best-in-class introductory 0% APR for 21 months

Earn unlimited 1% cash back on every purchase with no annual fee

CINCINNATI--(BUSINESS WIRE)-- Fifth Third Bank, National Association, is complementing its flagship 1.67% Cash/Back Card with the launch of a new lend-centric credit card that enhances and expands its Cash/Back lineup. Fifth Third has announced a 1% Cash/Back Card, which will help solve everyday banking needs such as paying for purchases – big or small – paying bills, managing debt, and handling unexpected expenses. And it comes with an introductory 0% APR on purchases and balance transfers for the first 21 months.

Fifth Third Bank expands its suite of cash/back cards with its 1% Cash/Back Card, which comes with an introductory 0% APR on purchases and balance transfers for the first 21 months. (Photo: Business Wire)

“The new 1% Cash/Back Card is truly for anything and everything,” said Howard Hammond, head of consumer banking at Fifth Third Bank. “Some may use it for the 0% APR so they can pay down debt, while others may want to use it for a large purchase. It’s an extremely versatile card and customers earn unlimited 1% cash back on all purchases no matter what, without restrictions and with no annual fee.”

Fifth Third created this new card to round out its offerings and ensure customers have the right credit card product to meet their wants and needs. With Fifth Third, the more you bank, the more you earn with a Cash/Back card. Other Fifth Third Cash/Back card options:

• 1.67% Cash/Back Card
• 2% Cash/Back Card for Preferred Banking members and Private Bank clients.

Fifth Third also offers a Secured Card for new-to-credit customers that can help build credit.

Best practices for an introductory 0% APR

According to Mintel Comperemedia (a market research firm), as of July 2022, the average APR for credit cards was more than 20 percent. Imagine getting a break from paying interest on your debt and getting rid of that debt faster. A credit card with an introductory 0% APR is a valuable tool for achieving those goals.

For more information or to apply, current customers can apply now and new Fifth Third customers can visit a Fifth Third Bank financial center. Credit cards are subject to credit review and approval.

About Fifth Third

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com. Member FDIC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221107006107/en/

Beth Oates (Media Relations)

Beth.Oates@53.com | 313-230-9002

Chris Doll (Investor Relations)

Christopher.Doll@53.com | 513-534-2345

Source: Fifth Third Bank

FAQ

What is the new credit card launched by Fifth Third Bank?

Fifth Third Bank has launched the 1% Cash/Back Card, which offers unlimited 1% cash back on purchases.

What are the benefits of Fifth Third's new Cash/Back Card?

The new Cash/Back Card features 0% APR for 21 months on purchases and balance transfers, and no annual fee.

When was the 1% Cash/Back Card launched?

The 1% Cash/Back Card was announced in November 2022.

What is the stock symbol for Fifth Third Bancorp?

The stock symbol for Fifth Third Bancorp is FITB.