The Fifth Third Bank Cash Rewards Mastercard is one of a number of very popular rewards based credit cards on the market that enable cardholders to benefit from earning money back on the purchases that they make. Rewards based credit cards have become increasingly popular over recent years amongst those who regularly use their cards and want to be able to get something back for their loyalty from their credit card provider. While there are many different types of rewards available for those who opt for this type of card, cash back is one of the most popular rewards types.
If you are one of the many people that use a credit card for day to day or regular spending, the Fifth Third Bank Cash Rewards Mastercard could be perfect. Using the card regularly means that you can earn cash back more quickly and truly enjoy the benefits of this type of credit card. This card offers a range of benefits and perks for cardholders as well as ensuring that you get to enjoy the security, flexibility, ease and convenience of having a credit card that is widely accepted around the world.
Who is the Fifth Third Bank Cash Rewards Mastercard designed for?
There are many different types of credit cards on the market these days, from cash back and rewards based credit cards like the Fifth Third Bank Cash Rewards Mastercard through to interest free and balance transfer cards. All of these cards cater for a range of needs, preferences, and situations. The Fifth Third Bank Cash Rewards Mastercard is one that caters for those who spend regularly on their credit cards or make higher value purchases, as it awards cash back based on the amount spent on purchases. It also caters for those who clear their balance in full within the interest free period each month, as this means that no interest is charged.
It is worth bearing in mind that not everyone will be able to benefit fully from the Fifth Third Bank Cash Rewards Mastercard. For instance, if you do not use a credit card on a regular basis you will find that accruing cash back is far more difficult because the amount you earn is based on your spending. Also, do be aware that if you spread the repayments on your credit card rather than paying in full within the interest free period you will be charged interest and this is going to counteract the rewards that you earn. Therefore, if you fall into either of these categories it is advisable to look at alternative credit cards.
The key features and benefits of the Fifth Third Bank Cash Rewards Mastercard
As is the case with any credit card you are considering applying for, it is important to consider the key features and benefits before you make your application. When you do this it becomes easier to determine whether this is going to be the right card for your needs. Some of the key features and benefits of this credit card include:
- Tiered cash back on purchases: You can earn different levels of cash back on your purchases when you use the Fifth Third Bank Cash Rewards Mastercard, with the amount of cash back based on the type of purchase you are making. If you make gas and grocery purchases on your card you can enjoy a 2 percent cash back level per dollar spent. For all other purchases you will earn 1 percent cash back per dollar spent.
- Cash rewards: You can also look forward to earning cash rewards on this credit card, as you will be able to redeem a check for $50 every time you make $5000 worth of purchases on your credit card.
- Introductory rate: When you take out the Fifth Third Bank Cash Rewards Mastercard you will be able to benefit from a 0 percent introductory rate on both purchases and balance transfers, which lasts for twelve months. There is also no annual fee to pay.
- Additional benefits: This credit card comes with a wide range of additional perks designed to benefit cardholders. This includes protection for your cell phone, price protection benefits, zero liability to protect against card fraud, MasterRental Insurance, travel accident insurance coverage, purchase assurance, road assist coverage, and a range of additional perks.
When you take out the Fifth Third Bank Cash Rewards Mastercard, you will also be able to benefit from the concierge service that is made available to cardholders. This is a service that offers exclusive access to a range of additional perks, including access to various venues and experiences.
Points to remember
If you do decide that a cash back credit card is the right option for you, there are a number of points that you should bear in mind in order to determine whether this card is going to be the most suitable one for your needs. First of all, you should make sure that you are able to repay the balance in full each month on the credit card, as this will ensure that you are not subjected to interest charges that would otherwise counteract the rewards that you can earn. Another thing that you will need to do is ensure that you will be using the card on a regular basis for spending or to make higher value purchases, as the cash back you earn will be based on the amount that you spend on the card. It is also worth remembering that there is no interest charged for the first 12 months, so as long as you can get your balance cleared within this period then this card could be suitable for you. However, it is worth checking on the standard APR once this period is over to ensure that you are able to get a competitive rate if you do decide to spread your balance repayments once the initial twelve months is over.