The Fifth Third 1.67% Cash/Back Card is a financial product from the well-known banking firm, Fifth Third. It offers rewards to customers who utilize it in their daily spending and has been widely popular amongst consumers. This review examines what this card has to offer, including its features and benefits, as well as its drawbacks. The purpose of this article is to provide an overview of the card’s key features so that readers can make informed decisions when considering whether they should apply for one or not.
This article begins by discussing the various types of cards offered by Fifth Third Bank, with particular focus on the 1.67% Cash/Back Card. It then reviews the different services associated with this card such as cashback rewards, interest rates, and fees charged for using it. Furthermore, it takes into account factors like security measures taken to protect users’ information and customer service provided by the bank. Finally, it provides an analysis of all these elements combined in order to determine whether this card is worth applying for or not.
This review will serve as a useful guide for anyone curious about how rewarding the Fifth Third 1.67% Cash/Back Card could be for them financially speaking – if at all! Readers are encouraged to read through carefully in order to gain insights into what makes this card unique and why it might be a good option for those looking to get rewarded while making purchases online or offline.
Overview Of The Card
The Fifth Third 1.67% Cash/Back Card is a prepaid card offering cash back rewards for purchases made with the card. This card can be used to make purchases wherever Mastercard is accepted and provides an easy way to earn cash back on everyday purchases. The cardholders also have access to online account management services, including balance inquiries and transaction history reviews.
This prepaid card does not require any credit checks or security deposits, making it ideal for those who do not want to deal with traditional banking systems or are unable to qualify for other cards due to their credit rating. Additionally, there are no annual fees associated with this mastercard option, which makes it more attractive than some of its competitors in the same space. Furthermore, users have access to customer service support 24 hours a day should they need assistance with their accounts.
Eligibility Requirements
The Fifth Third 1.67% Cash/Back Card has a few eligibility requirements that must be met before applying for the card. To begin with, applicants should have an excellent credit score and payment history in order to qualify for this rewards program. Additionally, it is important to note that this card can only be used by U.S. citizens or those who are permanent residents of the United States and have had their status verified.
Furthermore, when considering an applicant’s income level, there is no specific requirement other than being able to make monthly payments on time. However, applicants should keep in mind that their income will likely play a role in determining the amount they can borrow against their available credit limit; thus, having higher income levels may work favorably towards receiving a larger line of credit from Fifth Third Bank.
To summarize:
- Applicants must have an excellent credit score and payment history
- Must be a citizen or permanent resident of the US with valid documentation
- There is no minimum income requirement but higher incomes may increase the loanable amount
- Payments need to be made on time each month
- Credit limits depend on various factors such as creditworthiness and income level – All borrowers must meet certain eligibility requirements such as having a valid Social Security number and a minimum credit score.
Benefits & Rewards
The Fifth Third 1.67% Cash/Back Card offers several benefits and rewards to cardholders. With each purchase, users receive cash back which is automatically deposited into their account. The reward rate of 1.67% applies to all purchases made with the card (not just certain categories). Additionally, cardholders can enjoy no annual fee as well as 0% introductory APR on balance transfers for the first 18 months after opening the account.
Furthermore, this credit card also comes with other perks such as travel accident insurance and cell phone protection when charged to the card. Finally, it has a generous point system that allows customers to earn points for every dollar spent on qualified net purchases which can be redeemed for statement credits or gift cards from popular retailers like Amazon, Target, and Starbucks.
Fees & Charges
The Fifth Third 1.67% Cash/Back card has several fees and charges that should be considered before making a decision to use the card for purchases or cash withdrawals. These include an annual fee, balance transfer fee, cash advance fee, foreign transaction fee, late payment fee, returned payment fee and over-the-limit fee. The annual fee is $0; however, there are other fees that may apply depending on how the card is used.
Balance transfers have a 3% charge with a minimum of $5. Cash advances also come with a 3% charge plus an additional $10 flat rate. Foreign transactions incur a 3% conversion rate in addition to any ATM withdrawal fees charged by the operator. A late payment will cost up to $39 while returns payments can bring up to another $37 in charges. Finally, an over-the-limit amount could mean paying an extra $38 along with any interest accrued since it happened. All these must be taken into account when looking at using this particular credit card.
Pros & Cons
The Fifth Third 1.67% Cash/Back Card offers a number of distinct advantages to cardholders. For starters, the APR for purchases and balance transfers is one of the lowest in the market at only 11.74%, making it an attractive option for those looking to minimize finance charges while paying off their balances over time. In addition, there are no annual fees associated with this card, meaning users can reap all of these benefits without any additional costs. Furthermore, cardholders can take advantage of exclusive rewards programs and cash back opportunities that help them save even more money on everyday purchases.
On the downside, some customers may find that their credit limit is too low to cover large purchases or emergency expenses when using this card. Additionally, customers who opt into reward programs might not earn enough points or miles to make meaningful savings from them. Finally, depending on the user’s spending habits and financial situation, carrying a balance could end up costing more than they initially expected due to high interest rates if payments are late or missed altogether.
Alternatives To Consider
When considering whether the Fifth Third 1.67% Cash/Back Card is the right choice for one’s financial needs, it is important to consider other available options. Credit cards with cash back benefits offer various rates and rewards programs that could be more tailored to an individual’s spending habits than a single fixed percentage rate ever would. While this card offers a competitive rate of return on purchases, some competitors may provide higher returns or better reward structures in categories such as travel expenses or dining out. It is essential to do research into what alternative credit cards offer and compare them against the Fifth Third Cash/Back Card before making a decision. As well, many banks have their own cash-back rewards program associated with debit cards and checking accounts which could potentially provide greater savings opportunities than any standard credit card option. Doing research into all potential alternatives can help ensure that an informed decision is made when selecting the best payment vehicle for each person’s individual needs.
Conclusion
The Fifth Third 1.67% Cash/Back Card is a credit card with an attractive rewards program that offers users cashback on everyday purchases. It has eligibility requirements, fees and charges associated with it, as well as pros and cons to consider before deciding if this card is the right choice for one’s spending habits. The rewards program offers generous cash back rates and no annual fee; however, there are some drawbacks such as limited acceptance in certain countries and higher interest rates than other cards.