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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Fifth Third Bancorp    FITB

FIFTH THIRD BANCORP

(FITB)
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Fifth Third Bancorp : Introduces the Cash/Back Card

11/16/2020 | 09:43am EST

New card offers unlimited 1.67% cash back on every purchase

Fifth Third Bank today announced its new cash back rewards credit card. The Fifth Third Cash/Back Credit Card is the bank’s new flagship rewards credit card product, offering 1.67% cash back on every purchase, no matter the category.* The new contactless-enabled card gives customers the ability to tap and go in store or load into their digital wallet as a safer way to pay. Customers can also manage the card directly from their Fifth Third Mobile Banking app.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201116005759/en/

Fifth Third Introduces the Fifth Third Cash/Back Card. New card offers unlimited 1.67% cash back on every purchase. (Photo: Business Wire)

Fifth Third Introduces the Fifth Third Cash/Back Card. New card offers unlimited 1.67% cash back on every purchase. (Photo: Business Wire)

“The new card empowers customers to earn 1.67% cash back on all their purchases. It’s that simple,” said Mike Butera, head of consumer products and payments for Fifth Third Bank. “There are no hidden requirements or qualifications. Customers can use one card and know that they are receiving tangible benefits no matter where and what they purchase.”

The new Fifth Third Cash/Back Card offers:

  • Unlimited 1.67% cash back on every purchase.
  • Contactless payment option.
  • No annual fee.
  • No rewards expiration.
  • No rotating categories.

Additionally, Fifth Third is introducing two new products that will offer unlimited 2% cash back on every purchase and no annual fee** for clients who have a Preferred or Private Bank relationship. The card is one more initiative that demonstrates how the Bank is creating solutions to fit neatly into customers’ lives and making banking a Fifth Third better.

“Consumers want one card that earns abundant cash back on all purchases regardless of the category,” Butera said. “The Fifth Third Cash/Back Card keeps things simple: You make purchases, you earn cash back. We are excited to introduce our new flagship rewards card that ensures a seamless experience for our customers, as well as offers more rewards and benefits as their relationship expands with us.”

Customers can learn more and apply for the new Fifth Third Cash/Back Card at 53.com or at any Fifth Third branch location.

*Earn 1.67 Rewards Points (1.67% cash back) for each $1 spent on qualified purchases. The value of each point is $0.01. If earned points result in a fractional amount, then such fractional amount will be rounded to the nearest whole number. For example, if your Rewards Points total 3.216, you will be awarded 3 Rewards Points.

 

**Earn 2 Rewards Points (2% cash back) for each $1 spent on qualified purchases. The value of each point is $0.01.

 

See the rewards terms and conditions at 53.com/myrewards for important information including details about: (1) Purchases: dollar value of goods and services, minus credits and adjustments, excluding fees and other items. (2) Categories: merchants’ card readers are assigned to categories which determine how a transaction is characterized for rewards purposes. We do not control which categories card readers are assigned to. (3) Redemption options. (4) Changes: the program may change. (5) Expiration: points do not expire.

 

Variable APR of 15.49% to 25.49% on purchases when you open your account and on balance transfers after the introductory period. Variable APRs are accurate as of 11/12/2020 and are subject to change with the market based on the prime rate. Cash advance variable APR: 24.99%. Annual Fee: None. Balance transfer fee either $5 or 4% of the amount of each transfer, whichever is greater. Cash advance fee either $10 or 5% of the amount of each cash advance, whichever is greater. Convenience check fee either $5 or 4% of the amount of each check, whichever is greater. International transaction fee: None. Late payment fee of up to $40. Minimum interest charged is $1.50. We may end any promotional (including introductory) APR(s) and apply the standard APR for purchases or balance transfers, as appropriate, if you make a late payment.

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of Sept. 30, 2020, Fifth Third had $202 billion in assets and operated 1,122 full-service banking centers and 2,414 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 52,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of Sept. 30, 2020, had $422 billion in assets under care, of which it managed $53 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank, National Association. Member FDIC.


© Business Wire 2020
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Financials (USD)
Sales 2020 7 600 M - -
Net income 2020 1 250 M - -
Net Debt 2020 - - -
P/E ratio 2020 18,4x
Yield 2020 3,39%
Capitalization 22 701 M 22 701 M -
Capi. / Sales 2020 2,99x
Capi. / Sales 2021 3,05x
Nbr of Employees 20 283
Free-Float 76,9%
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Technical analysis trends FIFTH THIRD BANCORP
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 32,77 $
Last Close Price 31,87 $
Spread / Highest target 19,3%
Spread / Average Target 2,84%
Spread / Lowest Target -15,3%
EPS Revisions
Managers and Directors
NameTitle
Gregory D. Carmichael Chairman & Chief Executive Officer
Timothy Spence President
James C. Leonard Chief Financial Officer & Executive Vice President
Jude A. Schramm Chief Information Officer & Executive VP
Gary R. Heminger Independent Director
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