What Is Fifth Third Bank, and Are Its Credit Cards Right for You?

Fifth Third Bank — based in Cincinnati — may be a curious name for a financial institution. But it’s not random.

When Third National Bank and Fifth National Bank merged around the turn of the 20th century, the bank renamed itself Fifth Third Bank. Since then, it has fully embraced its unusual moniker: The bank’s logo is the fraction 5/3, and its motto is that it’s a “Fifth Third Better” than the competition.

Today, the bank has branches in nearly a dozen states throughout the East Coast and Midwest. It offers several financial products, including mortgages, insurance, mutual funds and credit cards.

Among the credit and charge cards that Fifth Third Bank issues are:

• 1% Cash/Back Card.

• 1.67% Cash/Back Card.

• Pay with GasBuddy+ card. 

• Preferred Cash/Back Card.

• Private Bank Card.

• Secured Card.

• Stand up to Cancer Credit Card. (No longer accepting applications.)

• TRIO Credit Card. (No longer accepting applications.)

• TRIO Preferred Credit Card. (No longer accepting applications.)

• Truly Simple Credit Card. (No longer accepting applications.)

Note that you have to live in a state with a Fifth Third branch to apply for one of its credit cards.

Here’s a closer look at some of them.

1.67% Cash/Back Credit Card

Fifth Third Bank leaned all the way into its name when it came up with the 1.67% Cash/Back card. (Divide 5 by 3 and you get 1.67.) The card earns 1.67% cash back on all purchases with no caps or expiration date on rewards. Rewards may be redeemed for a statement credit or a deposit into a Fifth Third checking or savings account. As of this writing, the 1.67% Cash/Back card also has a 0% APR period for the first 12 billing cycles on balance transfers, and it also offers cell phone insurance.

That’s a decent combination of perks for a card with no annual or foreign transaction fees, although it lacks a sign-up bonus.

» MORE: Credit cards that earn 2% cash back on all purchases

Pay with GasBuddy+ Card

The Pay with GasBuddy+ card is a charge card, not a credit card. That means you can’t carry a balance on the GasBuddy+ card and instead must pay it off immediately. If your account is past due, GasBuddy can close your account, lower your credit limit, or decline future transactions, among other penalties.

As long as your account is in good standing, though, you can get up to 33 cents off per gallon. To get the highest discount, cardholders need to enroll in autopay and scour the GasBuddy app for the best deals. Rewards earned with the card are automatically redeemed at your next fill-up.

No credit check is required to get the GasBuddy+ card.

Preferred Cash/Back Credit Card

On almost every count, the Preferred Cash/Back card is identical to the 1.67% Cash/Back card — with the important exception of its rewards rate. The Preferred Cash/Back earns an unlimited and uncapped 2% on every purchase, putting it in an exclusive category of cards that do so. The catch: You must be a Fifth Third Preferred banking client to get the credit card. To be a Preferred member, you must have a combined balance of at least $100,000 in deposit or investment accounts with the bank.

Like the 1.67% Cash/Back card, the Preferred Cash offers cell phone insurance, a 0% intro APR promotion, and no annual or foreign transaction fees.

» SEE: Credit cards that earn 2% cash back on all purchases

Private Bank Credit Card

The Private Bank card earns the same 2% rate as the Preferred Cash. As its name suggests, the card is available only to those who belong to Fifth Third’s Private Bank, which offers wealth management services for high-net-worth clients.

The Private Bank card has no annual fee, yet it’s full of perks that are more typical of pricier travel cards. For example, Private Bank cardholders get:

• Trip cancellation insurance.

• Lost luggage insurance.

• Cell phone insurance.

• 24/7 access to a personal travel advisor. 

• Once-a-year golf outing for four people at a Tournament Players Club (TPC) course.

Secured Card

Fifth Third Bank has one option for customers who want to build or rebuild their credit. The aptly named Secured Card requires a minimum $300 security deposit to open the credit account, which must be held in a Fifth Third Momentum savings account. (You will get the full security deposit back if the Secured card is closed in good standing, or if you upgrade to another card in Fifth Third’s portfolio.) The Secured card also has a $24 annual fee.