The Trio Credit Card offered by Fifth Third Bank is exclusive to Fifth Third customers with bank or checking accounts as well as great or better credit as determined by Fifth Third Bank. It's also possible, though rare, to receive a per-qualification in the mail for this card if you live near a Fifth Third Bank branch. Completing the application may require an in-office appointment.
Overall, the Trio Card is recommended for its lower-than-average interest rate and, for those with over $100,000 in combined savings or investments, a strong rewards program. And that's the main caveat with this card. It's a find lower-APR card with no standout rewards or bonuses unless you are a Preferred Banking customer with Fifth Third Bank. This is why you may have received an Apply53.com invitation.
The Trio Card is exclusive to customers of Fifth Third Bank with a checking or savings account. There are no minimum balance requirements and no annual fees for either the card or either type of account. If you live in a state that has a Fifth Third branch, it's not a bad bank to have an open account with- even if it's just to get access to the Trio Card.
However, the basic version of this card is just that. You earn 1 point for every dollar spent and they expire within 3 years unless they are redeemed. 1 point is equivalent to 1 cent. However, Preferred Banking customers, people with over $100,000 in eligible accounts with Fifth Third Bank, can earn up to 3x points of purchases and these points do not expire.
The overall APR with the Trio credit card is low. Purchase and balance transfer APR has a margin range of 10.74% to 19.74%. This margin is added to the Prime rate to determine the APR at any given time.
The APR for cash advances has a margin of 21.74%. This margin is added to the current prime rate to come up with the final APR for a given period. Cash advances and balance transfers also incur fees upon initiation and acceptance.
All Fifth Third credit card offerings require better-than-average credit and provide high initial credit limits. They are also reputed to offer frequent and generous credit line increases in as little as 6 months after account opening. As this is a bank-linked credit card, further financial proof or proof of income is rarely required.
- Annual Fee – There is no annual fee for setting up or keeping the Trio Card by Fifth Third Bank.
- Cash Advance Fee – The cash advance fee for the Trio Card is 5% of the total cash advance, with a minimum of $10.
- Foreign Transaction Fee – There is no foreign transaction fee for purchases made with the Trio Card by Fifth Third Bank.
- Late Payment Fee – There is a late payment fee of up to $40 for the Trio Card. Further, any late payments may harm your eligibility for the rewards program. Frequent late payments may lead to the forfeiture of accumulated rewards points.
- Return Payment Fee - There is no return payment fee as long as the return payment process is completed and successful payment is made before the due date.
- Authorized User Fees – There are no authorized user fees for the Fifth Third card. However, authorized users do not have all of the same privileges as the primary account-holder. Authorized users can earn rewards points for purchases.
- Balance Transfer Fee – The balance transfer fee for the Trio Card is 4% of the total balance transfer with a minimum of $5.
There are two separate sets of rules when it comes to the Trio credit card. One applies to all customers and the other applies to all Preferred Banking customers. The first set of rewards is simple. You get 1 point per dollar spent. There is no cap to the number of points you can earn and points expire in three years. Each point is worth 1 cent in cash back or a statement credit.
The second set of rewards terms applies to those with $100,000 or more, at the time of account opening, across their Fifth Third Bank accounts. This includes savings accounts, retirement accounts, and some investments. As a Preferred Banking Member you can earn 3% back on purchases at restaurants and 2% at gas stations, grocery stores, and drug stores up to a $1,500 spending limit. Point value and redemption options are the same.
Pros – Advantages of the Fifth Third Bank Trio Credit Card
- Low APR – The Trio Card has much lower APR than the average of their competition.
- No Annual Fee – There is no annual fee for the Trio Rewards credit card.
- No Foreign Transaction Fee – There is no foreign transaction fee for purchases made with the Trio Rewards credit card.
- Unique Redemption Options – Have a mortgage or other loan with Fifth Third Bank? You could help pay it off with the points you earn.
Cons – Disadvantages of the Fifth Third Bank Trio Credit Card
- Convoluted and Misleading Rewards Structure – It's easy to think that all members could earn more than a single point per dollar spent until you read the fine print.
- Points Expire – For non-preferred banking customers, reward points expire within 3 years. This seems a bit outdated.
- Available to Residents of Certain States Only – The Trio Card is only offered to people that live in a state with a Fifth Third Bank branch.
There are two welcome offers you could get with the Trio Card. First, there is the initial $100 bonus for spending $1,000 with your new Trio card within 90 days of account opening. This cash back bonus will be applied to your account within the following 6 billing cycles.
There is also a 0% APR introductory period for balance transfers. It's important to remember there is still a 4% balance transfer fee to contend with, but overal this can save you quite a bit in interest over the 12 months this promotion is active. After the promotion ends, the Trio card still has some of the lowest APR you can expect from a credit card.
If you have a lot of money in savings (over $100,000) and are already a Fifth Third customer, this is a great standard card to have. If you want to have a decent 1% cash back card or need a balance transfer with a fairly high limit, this could also be an excellent card to apply for.