Fifth Third Bank Rewards Card
Fifth Third Bank offers a variety of credit cards for their customers. For instance, customers can apply for a low interest or secured card. However, if you love rewards and cash there is only one 5/3 Card you need to look in to. Let’s take a look at the TRIO Rewards Card and whether or not this card is the right choice for you.
Benefits and Features of The Trio Card
- Earn unlimited cash back on all purchases
- Select categories earn additional cash back (up to 3%)
- New customer sign up bonus (spending requirements apply)
- Zero percent introductory APR for balance transfers
- Cell phone protection available for all cardholders
- Link your card to your favorite digital wallet
- No foreign transaction fees and no annual fee
Earning Cash Back With Your Card + Select Category Bonuses
There are three ways to earn cash back with your credit card. First, every purchase you make will earn 1% cash back. Additionally, all purchases made at gas and groceries will earn 2% cash back. Finally, your dining purchases will earn 3% back. Spending limits will apply to the bonus category options.
Each quarter cardholders are eligible to earn bonus rewards (gas, groceries and dining) on purchasing totals up to $1,500. After you hit your $1,500 limit each quarter you will continue to earn 1% back on all purchases within that category.
New Cardholder Bonus Cash
One of the more exciting features of this card is the ability to earn a big bonus when opening your account. TRIO Cardholders are encouraged to enjoy an additional $100 in bonus rewards to celebrate your new account. Completely the bonus is very simple and most cardholders will have no issue getting this new customer offer.
In order to earn the $100 in rewards you will need to spend $1,000 on your account within the first 90 days of opening your new credit card. It is as simple as that. After completing the spending requirement your rewards will be credited to your rewards balance.
Introductory APR Offer
After opening a new account customers will enjoy 0% financing for balance transfers. Unfortunately this card does charge a balance transfer fee of 4%. Other balance transfer options will be more appealing if this is your primary reason for opening a new card. See this article about The Chase Slate as an example of what to look for in a top balance transfer card.
TRIO Card Cell Phone Protection Service
The Cellular Telephone Protection offered with your card provides very nice supplemental coverage features. First, it is important to understand that supplemental coverage means other forms of insurance on your phone will need to be applied first for damage, theft, or loss. This would include insurance such as primary cell phone insurance or home/renters insurance.
The insurance coverage will provide up to $200 for each cell phone claim. A $50 deductible will apply to all claims. A maximum of 2 claims will be honored per year. The full guide for coverage can be found here.
Linking Your Card To A Digital Wallet
The TRIO Card provides digital wallet ability for all three of the major digital wallet platforms. You can link your card using Samsung Pay, Apple Pay, and Google Pay. Simply download the desired app to your smartphone and follow the set up instructions using your 5/3 credit card as your payment option.
Trio Card Fees
Cardholders will not be charged any fees when using their card abroad and no annual fees will apply. This will be a great benefit for customers who hate high fee cards. Late payment fees of up to $38 will apply. For a full list of card terms including interest rates and fee schedule you can visit the terms here.
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TRIO Card Drawbacks
There are very few complaints to make about this card for a no annual fee rewards card. Some of the concerns are the spending limits for the bonus categories. Rewards are capped at $1,500 per quarter for the 2% and 3% cash back categories. Fortunately, you will continue to earn 1% back even after you hit the quarterly spending limit.
One other small criticism to make is the balance transfer fee. Balance transfers will be subject to a 4% charge on your balance transferred to your TRIO Card.
Applying For The 5/3 TRIO Credit Card
There are three ways to apply for the TRIO Credit Card. In order to apply for the card you will need to be a Fifth Third Bank Member. Customers can apply by any of the following three ways:
- Online Application (53.com/Trio)
- Apply At Your Local 5/3 Branch
- Apply By Phone at 866-671-5353
After your application has been processed you will be provided with an approval decision. If approved your new card will be sent to you can be be activated online (53.com/activate) or by phone using the number provided on your card.
Other Services Offered By Fifth Third Bank
Fifth Third Bank offers a full line of banking services beyond their credit card products. Customers will enjoy financial services including:
- Checking and Savings Account
- Investment Accounts (IRAs, Mutual Funds, Stocks, etc.)
- Loan Services (Student Loans, Mortgages, Auto Loans, etc.)
- Insurance Products
Final Thoughts – The TRIO Card From 5/3 Bank
Overall, customers will find the TRIO Card to be a great option for a low fee rewards card. The cash back earnings are very competitive among no fee credit cards. Furthermore, there is a very generous sign up bonus. This card is not ideal for customers who are looking to transfer a balance to their new card due to the 4% transfer fee. For all other 5/3 customers the TRIO Card is a great option which will allow you to earn cash back with every purchase.