Fifth Third Preferred Cash/Back Card

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Last updated on September 26th, 2023

Advertiser Disclosure Editorial Disclosure

Fifth Third Preferred Cash/Back Card

Fifth Third Preferred Cash/Back Card
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Fifth Third Preferred Cash/Back Card

  • 20.49% to 29.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
  • 20.49% to 29.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
  • 29.99% variable based on the Prime Rate Cash Advance APR

At a Glance

The Fifth Third Preferred Cash/Back Card is Fifth Third's best cash back rewards credit card. The card earns an unlimited 2% cash back on all eligible purchases, with no caps, annual fee, or foreign transaction fees.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Earn an unlimited 2% back on all purchases
  • No annual fee
  • No foreign transaction fees
  • Redeem rewards for statement credits, deposits, or a check
  • Regular Purchase APR: 20.49% to 29.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR: 20.49% to 29.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 4% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 29.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $40
  • You currently have a Fifth Third Preferred Checking account
  • You don't want to pay an annual fee or hidden fees
  • You don't want to bother with a confusing rewards program and instead earn unlimited rewards on every purchase
Fifth Third Preferred Cash/Back Card

Fifth Third Preferred Cash/Back Card

Terms & Conditions

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 1200x630 1
Fifth Third Preferred Cash/Back Card
wells fargo active cash card
Wells Fargo Active Cash Card
upgrade cash rewards visa 1200x630 1
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:

Ohio Illinois Michigan Tennessee
Florida Indiana North Carolina West Virginia
Georgia Kentucky South Carolina

 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:

① Complimentary Fifth Third Identity Alert® or a discount on Fifth Third Identity Alert Premium®, providing identity theft protection and insurance.
② Access to Fifth Third’s Life360 online portal9 to help organize and manage your complete financial picture.
③ Fast, easy and affordable estate planning from Trust & Will. As a Fifth Third customer, you can get Trust & Will’s digital estate planning solutions at a discounted price.
④ Access to a team of investment professionals who tailor solutions to your individual situation

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:

Zero Liability Protection Airport Concierge Cell Phone Protection
Mastercard Global Services Priceless Experiences Lyft Credits
ID Theft Protection Priceless Golf DoorDash Offers
Mastercard Travel Services ShopRunner Membership Hello Fresh Savings
Mastercard Hotel Stay Guarantee Fandango Savings

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.

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