Trio Credit Card From Fifth Third Bank Review

With the Trio Credit Card earn 3%, 2%, or 1% cash back on all purchases.

Trio Credit Card From Fifth Third Bank Review

Are you a rewards cardholder who wants more cash back opportunities? Are you typically a low spender with your credit cards? If you are, you’re in luck! The Fifth Third Trio card is new in the world of credit cards, and people are excited. For anyone who has never heard of the Trio credit card, we’ll fill you in. Our review will tell you the great and the not so great things about this card. Our goal is to give you a good understanding on whether or not you want to consider this card or look somewhere else.

Trio Credit Card Pros

1. Multiple Cash Back Opportunities

Usually, low spender cards don’t have great cash back opportunities. However, the Fifth Third Trio card is breaking this mold. You earn three percent back each time you use your card at a restaurant. You’ll also earn two percent for purchases made at drug stores, gas stations, and grocery stores. Finally, every other purchase will get you unlimited one percent cash back in rewards. The first two categories do have a cap of $1,500 per quarter. However, this won’t be a problem if you’re a low spender. Also, join the free Rewards Network dining rewards program and earn even more rewards.

2. Bonus for Signing Up

The Trio credit card comes with a bonus that is easy to get. All you have to do to get it is spend $1,000 over the first three months that you have the card. This is roughly $333 per month. Fifth Third credit card holders will get a $100 bonus for reaching this amount. This bonus is a cash back bonus as well. This means that you won’t have to worry about going through an extensive redemption process to get it.

3. APR Introductory Offer

You’ll get a year grace period on APR for balance transfers with the Fifth Third credit card. This allows you to transfer balances from other cards to this card and pay them off. You can cut your balance into 12 smaller payments. You’ll end up paying less if you manage to pay it off in a year because there’s no added interest. Also, this is great news for people who are trying to dig their way out of debt.

4. Easily Recognizable

Fifth Third Bank is located in 10 states with more than 1149 individual Fifth Third Bank branch locations. Fifth Third Bank branches are located in Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee, and West Virginia. Even if the Fifth Third Trio card isn’t recognizable, the card type is. This card is a MasterCard. MasterCard is one of the most widely accepted credit card brands available. You’ll be able to use it at almost any location. Additionally, you won’t have to carry a second card since it’s widely accepted.

5. Flexible Reward Redemption

One of the most frustrating things with a reward credit card is actually getting your rewards. However, the Trio credit card makes this process quick and easy. You can use your rewards to book travel, as merchandise, or a gift card. Additionally, you can have it deposited into your Fifth Third Bank savings or checking account. You can also redeem it for a mortgage credit for a Fifth Third Bank loan or mortgage.

6. No Annual Fee

A lot of reward cards come with higher annual fees. This leaves people who don’t use it a lot scrambling to justify paying it. You won’t have to worry about an annual fee with the Fifth Third credit card. Any rewards you earn are yours to keep. Even if you only plan on using this card once in a great while, it could be worth it.

7. Traveler Coverage

Do you plan to travel with this card? Cardholders automatically gain access to MasterCard’s traveler benefits. It includes MasterCard’s Priceless Cities Program. This program gives cardholders access to in-demand event tickets and private events. You also get travel and airport concierge service and additional protection when you travel internationally.

8. Security and Shopping

MasterCard protects you with price protection guarantee. They’ll refund you the price difference if they find an item you purchased for less than you paid for it. You’ll also enjoy a doubled manufacturer’s warranty on each item you buy with your Trio credit card. It’ll extend your current warranty up to two additional years. You get access to the digital payment system because the card comes digitally optimized as well.

9. Cell Phone Protection

When you get this card, it pays to pay your cell phone bill with it. The company will reimburse you for any lost, stolen, or damaged phones that you purchased. This does cap at $400 per year with two claims maximum. However, it’s a nice reassurance in case anything happens to your phone.

Trio Credit Card Cons

1. Rewards Cap

Yes, the tiered rewards system is great. However, the quarterly cap isn’t so great. You won’t earn rewards until the quarter resets once you hit the $1,500 maximum. If you do, you’ll get stuck with a one percent cash back in all categories. This can significantly undercut any rewards you make until a new quarter starts. Consider the Capital One® Savor℠ Cash Rewards Credit Card for unlimited rewards.

2. Credit Score

The Trio credit card is newer and great for low spenders. However, the credit score needed for Fifth Third Bank credit card is slightly higher. You’ll need at least a good credit score to qualify for the Fifth Third Trio card. A good credit score typically ranges between 670 and 739. This can shut out a lot of potential applicants.

3. Restricted Redemption Options

Although you do have several ways to redeem your rewards, there are restrictions. Furthermore, your rewards expire every three or four years. If you don’t use them, you lose them. Other rewards options have a minimum rewards line. You have to earn over $25 to be eligible to redeem them. This may take a while if you’re a low spender with your card.

4. Normal APR

Your normal APR will kick in after the introductory offer finishes. Your APR will depend on the credit score you had when you first got the card. This APR starts at 14.24-percent. It goes up to 23.24-percent. Also, it’s a variable APR and it can fluctuate. This can add a lot of fees on if you routinely carry a balance.

5. Balance Transfer Fees

You’ll pay a balance transfer fee for every balance transfer you do with this card. While the Trio credit card doesn’t have a high fee, it’s still a fee. So this balance transfer fee or credit card fee is either $5 or four percent. It takes whichever is higher and charges it to your card after each balance transfer.

TRIO® Credit Card Fifth Third Bank Final Thoughts

Is the Trio credit card a good idea? We think it’s a good idea for low spenders who want rewards on everyday purchases. You do want to keep track of how much you earn per quarter. This will allow you to maximize your rewards. However, this is a solid rewards card for the average spender.

Monica Kowollik

Director at CreditFast.com
Monica has covered credit card and personal finance news for over 15 years. From an early age, she developed an interest in financial literacy and saving money. Monica hopes to help others to improve their personal finances one article at a time.

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