Reviews Fifth Third Cash Rewards card review
Fifth Third Cash Rewards card review

Fifth Third Cash Rewards card review

Published: May 26, 2017
Advertiser Disclosure
Ratings Policy
Cash Back Rating:
2.9 rating
2.9 rating
2.9 / 5
Rewards Value 2.0
Annual Percentage Rate 2.8
Rewards Flexibility 3.8
Features 3.0

In a nutshell:

The Fifth Third Cash Rewards card offers decent cash back for gas and grocery store purchases, but, if you have good credit, you may be able to get more value from a different card. This offer is no longer available.

Rewards Rate

  • 2% cash back on gas and groceries
  • 1% cash back on general purchases

Sign-Up Bonus
None

Annual Fee
None

Estimated Yearly Rewards Value ($1,325 monthly spend)
$219

APR
12.99-23.99%

Rewards Redemption
Pros

  • Rewards don’t expire
  • No limit on amount of cash back
  • No minimum redemption amount
  • Redeem for check, bank deposit, loan payment, gift card, merchandise, travel

Cons

  • Can’t transfer cash to other rewards accounts

Other Notable Features: Cellphone protection, identity theft assistance, travel assistance, car rental insurance, concierge service, extended warranty, refund of price differences

This offer is no longer available. For current reviews, visit our credit card reviews section.

If you’d rather use credit than debit when shopping for groceries or filling your gas tank, the Fifth Third Cash Rewards card is a good card to have. The card offers double rewards on gas and grocery store purchases with no limits on how much you can earn. So, if you have a large family or are often on the road, you can earn a decent amount. The Fifth Third card doesn’t offer a sign-up bonus, though, dragging down its overall value. It also has a pricey APR if you have imperfect credit. 

Twice the rewards for everyday spending 

If you spend a lot on gas and groceries, you can earn a significant amount of cash back just by using the Fifth Third Cash Rewards card for all such purchases. The Fifth Third Cash Rewards card offers 2 percent cash back on gas and groceries and 1 percent cash back on everything else. However, the card’s total rewards value is less than some competitors. We estimate that if you spend roughly $1,325 a month, you’ll take home around $215. But this is still more generous than what many cash back cards offer.

Disappointing promotion

The Fifth Third Cash Rewards card doesn’t offer a sign-up bonus, though, so you’ll have to wait before you accumulate a significant amount. If you have excellent credit, you can earn substantially more cash by choosing a card with an ample bonus. However, if you also plan to transfer a small balance from another card or to make a large purchase, the Fifth Third Cash Rewards card may be more appealing. It offers a zero percent APR on purchases and balance transfers for up to 12 months, which is shorter than some competitors but still decent for a cash back card.

Simple redemption

Fifth Third also makes it easy to redeem cash whenever you want. So if you’re looking for a simpler cash rewards card that lets you earn an unlimited amount of cash, the Fifth Third Cash Rewards card can be a good option. There are no limits on the amount of cash you can redeem. There is also no ceiling on the total amount you can earn. In addition, Fifth Third Bank lets you redeem cash for gift cards, merchandise or travel, as well as for loan payments and bank deposits.

So-so APR

The APR on the Fifth Third Cash Rewards card is on the high side, though, particularly for cardholders with lower credit scores. The maximum APR, for example, runs as high as 23.99 percent, making it a risky choice for cardholders who plan to carry a balance. Cardholders with excellent credit may find the card more appealing. The lowest available APR sits at just 12.99 percent, which is significantly lower than the average cash back card. 

Reasons to sign up for it:

  • You spend a lot on gas and groceries.
  • You don’t want to bother with rotating bonus categories.
  • You’re already a Fifth Third Bank customer and want a card with the same bank.

How to use it:

  • Maximize the amount of cash back you earn by using your card for all grocery and gas purchases.
  • To avoid paying interest, repay your card in full each month after the 12-month promotional period expires.

All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information. 

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