Preferred Cash Back and 1 67 Cardmember Agreement

Fifth Third Bank's filed agreement for Preferred Cash Back and 1 67 Cardmember Agreement discloses a purchase APR of 18.99%–28.99%, no annual fee and a 12-month 0% opening period. The purchase rate sits at roughly the 69th percentile of the 4,587 agreements indexed here.

On the face of the filing

Fifth Third Bank filed this agreement for Preferred Cash Back and 1 67 Cardmember Agreement with the Consumer Financial Protection Bureau. The filing runs seven pages.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate and a foreign transaction fee are not stated.

Zero percent, and then what

The filing discloses a 0% introductory rate running 12 months. For that window, balances covered by the promotion accrue no interest at all.

Roughly 458 of the 4,587 filings indexed here disclose a zero-percent introductory rate, so this is a real feature of the document but not a rare one.

Behind the promotion sits a 28.99% purchase rate. On $1,000 that is in the region of $336 a year once the window closes.

Put the other way round, the 12-month zero rate is worth roughly $336 on a $1,000 balance relative to paying the go-to rate from day one — a real figure, but one that only materialises for someone who was going to carry that balance anyway.

Where the purchase APR sits

The purchase APR is quoted as a range of 18.99% to 28.99%. That 10-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Those two numbers occupy very different places in the corpus: roughly the 58th percentile at the bottom and the 69th at the top.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

The cost of carrying a balance

Carry $1,500 on this card for a year without paying it down and the purchase rate alone generates roughly $504 in interest.

On a median-priced agreement from this index (21.99%) the same $1,500 would run about $369 a year, so this card costs in the region of $135 more annually for the identical balance.

Broken down to a single thirty-day cycle, the same balance accrues roughly $36.16.

There is also a floor: the filing sets a minimum interest charge of $1.50, so any cycle that accrues less than that is billed at $1.50 anyway.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

What the card costs before you borrow

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Taking cash against the card means a cash advance fee of $10 or 5% of the advance, whichever is greater and a cash advance APR of 28.49%. Advances under roughly $200 are charged the flat $10; larger ones are charged 5%.

The transfer fee is $5 or 4% of the amount transferred, whichever is greater; transferred balances then run at 18.99%. On $7,500 that fee is about $300 before any interest is charged.

When a payment is late

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

Grace period and minimum charge

Anyone clearing the statement balance inside 23 days pays no purchase interest at all under this filing. With a corpus median of 25 days, this window is narrower than the norm.

The $1.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

Against the rest of Fifth Third Bank's filings

There are 5 filings from Fifth Third Bank in this index. Across that lineup purchase rates span 8.74% to 29.49%; this filing's 28.99% sits above 3 of the comparable ones.

What you cannot learn from the filing

Absent from the captured terms: a foreign transaction fee and penalty pricing. The original document is the place to look for any of these.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

The document itself

The filed PDF is linked from this page and runs seven pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 28.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.