CINCINNATI, September 3 — Fifth Third Bancorp (NASDAQ: FITB) has launched the Truly Simple® Credit Card, a new product built around an 18-month introductory 0% annual percentage rate on purchases and balance transfers. The bottom line: after the intro window closes, the variable APR on purchases and balance transfers ranges from 18.49% to 29.49% as of August 25, 2026, subject to change with the Prime Rate. The cash advance variable APR is 29.74%.
The card carries a $0 annual fee and runs on the Mastercard® network, consistent with the rest of Fifth Third’s credit card lineup. Balance transfer fees are either $5 or 4% of the transfer amount, whichever is greater; cash advance fees run either $10 or 5% of the amount, whichever is greater; convenience check fees are either $5 or 4% of the check amount, whichever is greater.
There is no international transaction fee. Late payment fees run up to $41, and the minimum interest charge is $1.50.
Designed for debt consolidation
Fifth Third positions the card as a flexible way to pay for large purchases over time or consolidate higher-rate credit card debt into a single payment. The bank notes that consolidating debt may result in one monthly payment but may not reduce the payment or allow the customer to pay off the debt sooner. The launch reflects a broader strategy to simplify Fifth Third’s credit card portfolio around two primary customer needs: earning rewards and saving on interest.
The company says the card is meant to meet growing consumer demand for longer introductory financing periods while providing tools that help customers save money and reduce financial stress. Digital self-service capabilities are included, along with cardholder benefits.
The card is issued by Fifth Third Bank, National Association, the subsidiary of the Cincinnati-based bank holding company, which has a significant presence in the Midwest and Southeast. Investors will note the announcement arrived via Business Wire on August 25, 2026, with the company framing the product as part of its broader commitment to financial well-being through tools that are easy to understand and use.
What to watch next: how the 18-month zero-interest window performs against competing offers from larger national issuers, and whether the simplified two-pillar card strategy moves the needle on Fifth Third’s consumer lending growth.
