Fifth Third Bank Launches New Consumer Credit Cards
October 11 2016 - 8:00AM
Business Wire
TRIOSM Creates Easy Ways to Earn Cash Back
Rewards Faster and Truly SimpleSM Offers a Low Introductory Rate
with No Surprise Fees
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.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20161011005086/en/
Fifth Third's new Truly Simple card
offers a low introductory rate and no surprise fees. (Photo:
Business Wire)
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.
Information accurate as of 10/06/2016 and may have changed after
that date. To obtain more recent information, please call us at
866-671-5353 or visit your local banking center.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $144 billion in
assets and operates 1,191 full-service Banking Centers, including
94 Bank Mart® locations, most open seven days a week, inside select
grocery stores and 2,541 ATMs in Ohio, Kentucky, Indiana, Michigan,
Illinois, Florida, Tennessee, West Virginia, Georgia and North
Carolina. Fifth Third operates four main businesses: Commercial
Banking, Branch Banking, Consumer Lending, and Wealth and Asset
Management. Fifth Third also has an 18.3% interest in Vantiv
Holding, LLC. Fifth Third is among the largest money managers in
the Midwest and, as of June 30, 2016, had $305 billion in assets
under care, of which it managed $26 billion for individuals,
corporations and not-for-profit organizations. Investor information
and press releases can be viewed at www.53.com. Fifth Third’s
common stock is traded on the Nasdaq® Global Select Market under
the symbol “FITB.” Fifth Third Bank was established in 1858. Member
FDIC, Equal Housing Lender
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version on businesswire.com: http://www.businesswire.com/news/home/20161011005086/en/
Fifth Third BankLaura Trujillo,
513-534-4361Laura.trujillo@53.com
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