Fifth Third Bank credit card rewards as good as they seem?

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portoon
 
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Fifth Third Bank credit card rewards as good as they seem?

Postby portoon » Sat Jul 23, 2011 1:19 pm

I can't believe that I never saw this offer from Fifth Third Bank before. Their credit card, the Cash Rewards Mastercard, pays 2% at grocery stores, gas stations and discount stores then the usual 1% other places. This is a really nice deal! :D :D :D

My question is though what counts as a discount store? That is one of those terms that gets thrown around a lot and its definition seems subjective. I take it that a Dollar General, Dollar Tree and those types are discount stores but what about a Target, CVS and Walmart? Would those count? The Fifth Third Bank credit card is the first I have seen that offers a higher rebate in this category. I love it because the ones that give extra points on airlines and hotels are useless for me since I don't travel.


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Postby Money card » Sat Jul 23, 2011 11:19 pm

very good question. Walmart and Target are discount stores, even if they are in the front of your local mall like sears or Nieman marcus. look all around wal mart and target and you will see what I mean.

cvs is a drugstore like walgreens , drug mart etc. regardless of where your target and walmart are located, they are discount stores.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Aug 02, 2011 11:28 pm

Same here- I have never heard of discount stores being in one of the higher reward categories. I agree, it's a useful category because it's one the average person actually spends money in on a regular basis.

My question for you is how does the rewards redemption work with this Fifth Third Bank credit card? If you have to save up $250 worth of points to get full value (like Bank of America does with their World Points) then it may not be such a great deal. Another thing to consider is there are a couple cards that give 2% on everything, so why choose this one that only does it for a few categories?
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



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