Fifth Third Simply BusinessTM Card Review for 2023
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 those with active Fifth Third business checking or savings accounts wanting good cash back rewards. It offers unlimited 1.67% cash back for every dollar spent on purchases, with no rotating categories, earning cap, and expiry on points. It also has an interest-free financing option of 0% on purchases and balance transfers for the first 12 billing cycles after opening an account.
Fifth Third Bank has nearly 1,100 full-time service locations and is present in the following states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee, and West Virginia.
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
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:
Those with existing business savings or checking account with Fifth Third Bank
Intro APR
0% APR
Regular APR
16.49% to 27.49% variable
Annual Fee
None
Credit Needed
Undisclosed
- 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
- Limited ways to redeem points
- 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 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 24/7/365 on assistance with everyday business needs
- Zero liability: Mastercard ensures that you are not responsible for fraudulent activity and won’t hold you responsible for unauthorized purchases made with your card. Business owners must report any loss or theft to their provider promptly to ensure that fraudulent activity is covered.
Intro APR
0% APR
Regular APR
16.49% to 27.49% variable
Annual Fee
None
Credit Needed
Undisclosed
- 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
- Limited ways to redeem points
- 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 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 24/7/365 on assistance with everyday business needs
- Zero liability: Mastercard ensures that you are not responsible for fraudulent activity and won’t hold you responsible for unauthorized purchases made with your card. Business owners must report any loss or theft to their provider promptly to ensure that fraudulent activity is covered.
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 | 10 | 15 |
Introductory APR | 5 | 10 |
Ongoing APR | 10 | 10 |
Total Score | 70 | `100 |
Who the Fifth Third Simply BusinessTM Card Is Best For
- Those with existing Fifth Third business checking or savings accounts: To qualify for the card, your checking or savings account with Fifth Third must be active for at least 90 days.
- Those who want fixed-rate rewards: This card lets you earn unlimited 1.67% cash back on all purchases, with no rotating categories, earning caps, and points expiration.
See our recommended alternatives below if this card isn’t the best fit for your business.
Fifth Third Simply BusinessTM Card Fees
APR
- Introductory: 0% on purchases and balance transfers for the first 12 billing cycles after account opening.
- Ongoing and balance transfers: 16.49% to 27.49% variable, which adjusts with the prime rate
- Cash advance: 29.49% variable, which adjusts with the prime rate.
- Penalty: 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
Fees
- Minimum interest charge: No less than $1.50
- Annual: None
- Balance transfer and convenience check: Either $5 or 4% of the amount of each balance transfer/check, whichever is greater
- Cash advance: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Foreign transaction: None
- Late payment: $40
- Overlimit and returned payment: $39
Your due date is at least 23 days after the close of each billing cycle.
Fifth Third Simply BusinessTM Card Rewards
- Unlimited 1.67% cash back for every dollar spent on purchases, equal to 1.67 Rewards Points. 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 using your Fifth Third Simply BusinessTM Card can be redeemed as a deposit to a business checking or savings account or as a statement credit to the Business Rewards credit account where applicable.
How To Make Payments on the Fifth Third Simply BusinessTM Card
- Online: Log into your Fifth Third online account and click “Make a Payment” in the account summary bar to process your credit card payments.
- Mobile app: You can use the Fifth Third Bank mobile app and follow the instructions to pay for your Fifth Third Simply BusinessTM Card.
- In-person: Search for the nearest Fifth Third Bank branch. There are more than 1,000 branches in 11 states.
- Mail: Send either a check or money order (not cash) to
Fifth Third Bank
5050 Kingsley Dr.
PO Box 740789
Cincinnati, OH 45274-0789
Fifth Third Simply BusinessTM Card Features
- Mastercard receipt management: Lets you take pictures of receipts and store them safely in the cloud, helping you understand your expenses better.
- Zero liability: Mastercard ensures that you are not responsible for fraudulent activity and won’t hold you responsible for unauthorized purchases made with your card. Business owners must report any loss or theft to their provider promptly to ensure that fraudulent activity is covered.
- Mastercard 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 Business Assistant: Provides 24/7 assistance to cardholders for everyday business needs.
- Mastercard Global ServiceTM: Offers 24-hour assistance to Mastercard cardholders with lost and stolen card reporting, replacement, and emergency cash advance.
Fifth Third Simply BusinessTM Card Alternatives
American Express Blue Business CashTM
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.
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
18.24% - 26.24% 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, 18.24% - 26.24%, 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
18.24% - 26.24% 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, 18.24% - 26.24%, 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.
- Is a viable option for those who want a straightforward cash back rewards system and may exceed their credit limit
- Lets you earn 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% after that
- Offers expanded buying power, which allows you to spend over your credit limit; note that the amount you can spend depends on your card usage, payment history, credit score, and financial resources
- Has a 0% introductory APR on purchases for the first 12 months
- Is one of our:
Chase Ink Business Unlimited®
Ink Business Unlimited® Credit 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.
BEST FOR:
Pocketing 1.5% cash back on every single purchase
Intro APR
0% Intro APR on Purchases
Regular APR
17.99% - 23.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
Intro APR
0% Intro APR on Purchases
Regular APR
17.99% - 23.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
- Is ideal if you want an alternative fixed-rate rewards card from a bank that is present in over 48 states
- Lets you earn unlimited 1.5% cash back on all business-related purchases
- Offers 0% APR on purchases for the first 12 billing cycles
- Does not charge annual fees
- Is on our lists of the:
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
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:
0% APR for 15 billing cycles
Intro APR
Regular APR
18.99% - 27.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.99% - 27.99%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Intro APR
Regular APR
18.99% - 27.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.99% - 27.99%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- Is a great choice if you want a longer 0% introductory APR and on purchases and balance transfers (for the first 15 billing cycles)
- Does not charge annual fees
- Lets you earn 5% cash back on prepaid hotels and car rentals directly booked in the Travel Rewards Center, 3% cash back on eligible purchases at gas and electric vehicle (EV) charging stations, office supply stores, cell phone service providers, and restaurants, and 1% cash back on all other eligible purchases.
- Is in our roundups of the:
See our guides on the best cash back business credit cards for more options.
Bottom Line
Fifth Third Simply BusinessTM Card is a great card to consider if you have an active Fifth Third business 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 purchases and balance transfers for the first 12 billing cycles after opening an account.
