The Fifth Third Bank Preferred Cash/Back Card is a solid option for those who are eligible and already have a relationship with the bank. It offers a competitive 2% cash back on all purchases, with the ability to redeem rewards as statement credit or deposit into a Fifth Third checking or savings account. However, it’s important to note that this card is not available to all consumers, as you must have a Fifth Third Preferred Banking account and live in one of the states where the bank operates.
For those who are looking for a similar cash-back card without the restrictions of the Fifth Third Bank Preferred Cash/Back Card, the Wells Fargo Active Cash® Card is a great alternative. It offers an unlimited 2% cash back on eligible purchases and comes with a $0 annual fee. Additionally, new cardholders can earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. The card also features a 0% intro APR on Purchases for 12 months and 0% intro APR on Balance Transfers for 12 months from account opening.
Overall, while the Fifth Third Bank Preferred Cash/Back Card offers competitive rewards and benefits, there are other options available for those who don’t meet the eligibility requirements or prefer a card with a welcome bonus. Consider your own banking relationship and spending habits to determine which card is the best fit for you.