Fifth Third Preferred Cash/Back Card

Fifth Third Preferred Cash/Back Card  Review

The Fifth Third Preferred Cash/Back Card is an exciting cash back credit card for existing Fifth Third Preferred Checking customers. The card provides elevated cash and a suite of financial tools and assistance for no annual fee.

Earn Unlimited 2% Cash Back On All Purchases

The Fifth Third Preferred Cash/Back Card is Fifth Third’s premium rewards card, offering its best cash back rewards. Cardholders earn unlimited 2% cash back on all eligible purchases, which is on par with leading banks’ best-unlimited cash back cards. The Citi Double Cash, for example, earns an unlimited 2% back on purchases, as does the Wells Fargo Active Cash and the TD Double Up.

Cash back rewards with Fifth Third never expire as long as the account is open. There are a few ways to redeem: You can redeem to your Fifth Third Checking or Savings account, as a statement credit issued to your credit card account, or have a physical check sent to your home.

Cash Back Comparison

Here is how the card breaks down with two similar cards:

	Fifth Third Preferred Cash/Back Card	Wells Fargo Active Cash Card	Upgrade Cash Rewards Visa®
Annual fee	None	None	None
Rewards	Earn 2% cash back on every purchase	Earn unlimited 2% cash back on all eligible purchases	Earn 1.5% unlimited cash back on card purchases every time you make a payment
Network	Mastercard	Visa	Visa

Not Available to All Customers

Fifth Third’s Preferred Banking Program provides comprehensive investment guidance, lending solutions, and personalized support to manage and protect assets. Interestingly, the Fifth Third Preferred Cash/Back Card isn’t available to all applicants. Instead, the card is exclusively to Fifth Third Preferred Banking clients.

Unfortunately, Preferred Banking isn’t easy to access. Preferred Banking membership requires a Fifth Third Preferred Checking® account and a combined balance of $100,000 across all Fifth Third deposit accounts. Meet these requirements, and you can earn Fifth Third’s best rewards.

Of course, another restriction to joining Preferred Rewards is the lack of national availability. Fifth Third currently operates in the following US states:

 Other Card Features

Beyond the unlimited cash back and no annual fee, what else does the Fifth Third Preferred Cash/Back offer? First, they’ll enjoy all the benefits of Fifth Third Prefer Checking, including the following:

The card also provides fast, safe, touch-free payments thanks to EMV chip and contactless payment technology. This feature provides an additional layer of security when shopping in-store or online. Simply tap your credit card wherever you see the Contactless Pay logo worldwide.

Cardholders also enjoy no foreign transaction fees when using their card abroad. And that international use is even easier with mobile wallet compatibility with Apple Pay, Google Pay, and Samsung Pay.

Finally, cardholders enjoy Mastercard benefits and protections. Mastercard provides an enhanced level of benefits, including:

Fifth Third Ratings

How is Fifth Third as a credit card issuer and bank? Here is a selection of reviews for the bank:

Should You Apply for the Fifth Third 1% Cash/Back Card?

While the Fifth Third Preferred Cash/Back Card is limited in its availability, the answer is yes if you currently use Fifth Third Bank for your banking needs and have a Preferred Checking account. The rewards with the card aren’t spectacular, but they are comparable with the very best cash back credit cards.

Additionally, the Preferred Checking program provides a full slew of financial advice and tools – meaning this card is more about maximizing rewards toward an investment or savings account instead of redeeming for trips or things like that. And that’s not a bad thing – for the fiscally responsible Fifth Third customer, this card is an excellent option to consider.