Fifth Third Simply BusinessTM Card Review for 2022
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
Fifth Third Simply BusinessTM Card is a small business credit card designed for business owners with active Fifth Third checking or savings accounts wanting good cash back rewards. It offers unlimited 1.67% cash back for every dollar spent in purchases, with no rotating categories, no earning cap, and expiry on points. It also has an interest-free financing option of 0% on purchases for the first 12 billing cycles after opening an account.
If you wish to compare one card over another, select a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Fifth Third Simply BusinessTM Card
Intro APR
0% APR
Regular APR
13.49% to 24.49% variable
Annual Fee
None
Credit Needed
Excellent
- Unlimited 1.67% cash back on all purchases
Pros
- With interest-free financing option on purchases and balance transfers
- Unlimited cash back rewards
- No annual and foreign transaction fees
Cons
- Only available in 11 states
- No introductory rewards
- Can only be redeemed as a Statement Credit
- Need an active Fifth Third checking or savings account to qualify
- Mastercard ID Theft ProtectionTM (IDT): Alerts you to possible identity theft by monitoring the surface, dark and deep web, searching for compromised credentials and potentially damaging use of your personal information.
- MasterRental Insurance Coverage: Cardholders that rent a vehicle for thirty-one (31) consecutive days or less using the Fifth Third Simply BusinessTM Card, you are eligible for insurance rental coverage on physical damage and theft of the rented vehicle.
- Mastercard Business Assistant: Provides assistance to Mastercard cardholders 24 x 7 x 365 on assistance with everyday business needs
Intro APR
0% APR
Regular APR
13.49% to 24.49% variable
Annual Fee
None
Credit Needed
Excellent
- Unlimited 1.67% cash back on all purchases
Pros
- With interest-free financing option on purchases and balance transfers
- Unlimited cash back rewards
- No annual and foreign transaction fees
Cons
- Only available in 11 states
- No introductory rewards
- Can only be redeemed as a Statement Credit
- Need an active Fifth Third checking or savings account to qualify
- Mastercard ID Theft ProtectionTM (IDT): Alerts you to possible identity theft by monitoring the surface, dark and deep web, searching for compromised credentials and potentially damaging use of your personal information.
- MasterRental Insurance Coverage: Cardholders that rent a vehicle for thirty-one (31) consecutive days or less using the Fifth Third Simply BusinessTM Card, you are eligible for insurance rental coverage on physical damage and theft of the rented vehicle.
- Mastercard Business Assistant: Provides assistance to Mastercard cardholders 24 x 7 x 365 on assistance with everyday business needs
How We Evaluate Cash Back Business Credit Cards
When grading cash back business credit cards like the Fifth Third Simply BusinessTM Card, we give the most weight to ongoing rewards and rate introductory rewards slightly less. We also consider the annual fee, introductory and ongoing annual percentage rates (APRs), and additional card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 30 | 30 |
Introductory Rewards | 0 | 20 |
Annual Fee | 15 | 15 |
Additional Features | 15 | 15 |
Introductory APR | 5 | 10 |
Ongoing APR | 10 | 10 |
Total Score | 75 | `100 |
Who the Fifth Third Simply BusinessTM Card Is Best For
- Those with existing Fifth Third checking or savings accounts who want good cash back rewards: To qualify, your checking or savings account with Fifth Third must be active for at least 90 days. You’ll be able to get unlimited 1.67% cash back on all purchases made with this business credit card, with no rotating categories and earning cap.
If this doesn’t fit your business needs, then see our roundup of the best small business credit cards. Alternatively, you may want to visit our Credit Card Marketplace to see our evaluation of other business credit cards.
Fifth Third Simply BusinessTM Fees
APR
- Introductory APR: 0% on purchases and balance transfers for the first 12 billing cycles after account opening.
- Ongoing APR for purchases and balance transfers: 14.24% to 25.24% variable, which adjusts with the prime rate
- Penalty APR: 29.99% and will be applied to your account if you:
- Made a late payment
- Exceeded your credit limit
- Made a returned payment
- Made a convenience check that isn’t honored
- Due date: At least 23 days after the close of each billing cycle
- Minimum interest charge: No less than $1.50
Fees
- Annual fee: None
- Balance transfer and convenience check fees: Either $5 or 4% of the amount of each balance transfer/check, whichever is greater
- Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Foreign transaction fees: None
- Late payment fee: $40
- Overlimit and returned payment fees: $39
Fifth Third Simply BusinessTM Rewards
- Unlimited 1.67% cash back for every dollar spent on purchases. There are no rotating categories and earning caps, and points earned will never expire.
The value of every point earned is 1 cent. Should the earned point result in a fractional amount, these will be rounded to the nearest whole number. For example, if your Rewards Points total 3.216, you’ll be awarded 3 Rewards Points.
Points earned from using your Fifth Third Simply BusinessTM Card will be redeemed as a statement credit to a Fifth Third Bank consumer rewards credit card account.
How To Make Payments on the Fifth Third Simply BusinessTM
- Online: Log into your Fifth Third online account and click “Make a Payment” found in the account summary bar to process your credit card payments.
- Mobile app: You can use the Fifth Third Bank mobile app, which is available for iOS and Android users.
- In-person: Search for the nearest Fifth Third Bank branch. There are more than 1,000 branches in 11 states.
Fifth Third Simply BusinessTM Features
Mastercard Safety & Protection
- Mastercard ID Theft ProtectionTM (IDT): Alerts you to possible identity theft by monitoring the surface, dark, and deep web, searching for compromised credentials, and potentially damaging use of your personal information.
- MasterRental Insurance Coverage: Cardholders who rent a vehicle for 31 consecutive days or less using the card are eligible for insurance rental coverage on physical damage and theft of the rental.
Mastercard Convenience
- Mastercard Business Assistant: Provides 24/7 assistance to Mastercard cardholders for everyday business needs.
- Mastercard Global ServiceTM: Offers worldwide, 24-hour assistance to Mastercard cardholders with lost and stolen card reporting, emergency card replacement, and emergency cash advance.
Pros & Cons of the Fifth Third Simply BusinessTM
| PROS | CONS |
|---|---|
| Has an introductory APR of 0% on both purchases and balance transfers for the first 12 billing cycles after account opening, making it easier to plan large purchases for your business | Only available in 11 states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee, and West Virginia |
| Offers 1.67% unlimited cash back on all purchases, with no restrictions on the categories and no cap on the points being earned | Lacks any sign-on bonus for new cardholders |
| Doesn’t charge any annual and foreign transaction fees, saving you some money | Rewards earned can only be redeemed as a statement credit, which can be transferred to an active Fifth Third consumer rewards credit card account |
Fifth Third Simply BusinessTM Alternatives
American Express Blue Business CashTM
American Express Blue Business CashTM is our best cash back business credit card and top instant approval business credit card as it offers 2% cash back for purchases made up to $50,000 per calendar year, then 1% after that. Rewards earned will be transferred to your statement credit automatically. It also offers an interest-free financing option of 0% on purchases for the first 12 billing cycles after opening an account and doesn’t charge any annual fees.
American Express Blue Business Cash™ Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
Intro APR
0% on purchases
Regular APR
16.24% - 24.24% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 16.24% - 24.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
16.24% - 24.24% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 16.24% - 24.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
PNC Cash Rewards® Visa Signature®
PNC Cash Rewards® Visa Signature® is best if you have an existing business checking account with PNC Bank. It made it to our evaluation of the best business credit cards with no annual fee, leading cash back business credit cards, and top small business credit cards as it offers a low minimum regular APR of 12.49% and has an interest-free financing option of 0% on purchases for the first nine billing cycles after opening an account. Aside from this, it provides a welcome bonus of $400 after spending $3,000 on qualifying purchases within the first three months of account opening.
PNC Cash Rewards® Visa Signature® Business Credit Card
BEST FOR:
PNC Bank account holders who want to earn cash back rewards
Intro APR
0% for 9 billing cycles
Regular APR
13.24% to 22.24% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $250 cash bonus for spending $3,000 in the first three billing cycles
- 0% APR on purchases for the first nine billing cycles after opening an account
- Earn 1.5% cash back on all purchases
- No annual fee
Pros
- No annual fee
- Sign-up bonus
- Low ongoing APR
Cons
- Short 0% APR period
- No 0% APR period on balance transfers
- Online application not available for nonaccount holders
- Cash Flow Insight®: This tool helps you monitor your spending categories so that you can plan your budget.
- Business integrations: You can download your transactions into Excel®, Quicken® or QuickBooks®, or use .csv files.
- Visa Signature® benefits: This card comes with Visa travel benefits and protection for purchases.
Intro APR
0% for 9 billing cycles
Regular APR
13.24% to 22.24% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $250 cash bonus for spending $3,000 in the first three billing cycles
- 0% APR on purchases for the first nine billing cycles after opening an account
- Earn 1.5% cash back on all purchases
- No annual fee
Pros
- No annual fee
- Sign-up bonus
- Low ongoing APR
Cons
- Short 0% APR period
- No 0% APR period on balance transfers
- Online application not available for nonaccount holders
- Cash Flow Insight®: This tool helps you monitor your spending categories so that you can plan your budget.
- Business integrations: You can download your transactions into Excel®, Quicken® or QuickBooks®, or use .csv files.
- Visa Signature® benefits: This card comes with Visa travel benefits and protection for purchases.
Capital One® Spark® Classic for Business
Capital One® Spark® Classic for Business is our top-recommended business credit card for fair credit as it’s one of the few unsecured credit cards that doesn’t charge any fees—annual, balance transfer, and foreign transaction. In addition, it offers an unlimited 1% cash back on all purchases. While it doesn’t have an interest-free financing option on purchases and transfers, it can be used to build your credit.
Capital One® Spark® Classic for Business
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Fair credit business owners (580 to 669)
Intro APR
N/A
Regular APR
26.99% (Variable)
Annual Fee
$0
Credit Needed
Average, Fair, Limited
- 1% cash back every time you swipe
- Build your business credit through responsible usage
- Issue employee cards for free
Pros
- Opportunity to build business credit
- Only requires fair credit
- No annual fee
Cons
- No 0% introductory APR
- No sign-up bonus
- High APR
- Purchase protection: Capital One will replace, repair, or reimburse you for eligible items in the event of theft or damage within the first 90 days of purchase.
- Extended warranty protection: You’ll get additional warranty protection on eligible items that are purchased with your business card, up to 1 year past the manufacturer’s warranty.
- Auto rental collision damage waiver: You’re covered for damage due to collision or theft when you rent an eligible car with your Capital One® Spark® Classic for Business card.
Intro APR
N/A
Regular APR
26.99% (Variable)
Annual Fee
$0
Credit Needed
Average, Fair, Limited
- 1% cash back every time you swipe
- Build your business credit through responsible usage
- Issue employee cards for free
Pros
- Opportunity to build business credit
- Only requires fair credit
- No annual fee
Cons
- No 0% introductory APR
- No sign-up bonus
- High APR
- Purchase protection: Capital One will replace, repair, or reimburse you for eligible items in the event of theft or damage within the first 90 days of purchase.
- Extended warranty protection: You’ll get additional warranty protection on eligible items that are purchased with your business card, up to 1 year past the manufacturer’s warranty.
- Auto rental collision damage waiver: You’re covered for damage due to collision or theft when you rent an eligible car with your Capital One® Spark® Classic for Business card.
Bottom Line
Fifth Third Simply BusinessTM Card is a great card to consider if you have an active Fifth Third checking or savings account and want to maximize rewards earned after making large business purchases. You get unlimited 1.67% cash back on all purchases, with no rotating categories and earning cap, and points don’t expire. It offers an interest-free financing option for both purchases and balance transfers for the first 12 billing cycles after opening an account.
If this isn’t the right card for your business, head over to our Credit Card Marketplace.
