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Fifth Third Secured Card review

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Establish or rebuild healthy credit with this basic secured card.

  • Get this card if you want to build or rebuild your credit.
  • Pick something else if you want a secured credit card with no annual fee, or you want to pay a lower security deposit.
  • You’re welcome to apply if you’re rebuilding credit.

$24

Annual fee

25.49%

Purchase APR (variable)

300

Recommended credit score

Details

Product NameFifth Third Secured Card
Card typeMastercard
Annual fee$24
Purchase APR25.49% variable
Balance transfer APR25.49% variable
Balance transfer fee$5 or 4% of the transaction, whichever is greater
Cash advance rate26.49% variable
Cash advance fee$10 or 5% of the cash advance amount, whichever is greater
Foreign transaction fee3% of the transaction value
Interest free periodUp to 23 days
Late payment feeUp to $39

Expert review

Rhys Subitch

Review by


Rhys Subitch is a writer and editor at finder.com who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.

Expert review

The Fifth Third Secured Card is one of several that can help you build your credit. This card requires a deposit that becomes your line of credit, with a minimum of $300 — fairly middle of the road for secured cards. However, it’s $5,000 maximum is hard to beat. And your full deposit amount goes into an interest-bearing Fifth Third savings account.

Another secured credit card

Citi® Secured Mastercard®

  • The Citi® Secured Mastercard® is a no annual fee credit card that helps you build your credit when used responsibly.
  • Unlike a debit card, it helps build your credit history with monthly reporting to all 3 major credit bureaus. Once available, you will also have free access to your FICO score online.
  • Use your card anywhere Mastercard® is accepted — worldwide.
  • A security deposit is required. Once approved, your credit limit will be equal to your security deposit (minimum of $200).
  • Get help staying on track with Auto Pay and account alerts.
  • With Flexible Payment Due Dates, you can choose any available due date in the beginning, middle or end of the month.
  • Manage your account 24/7 online, by phone, or in our mobile app.
  • The standard variable APR for Citi Flex Plan is 23.99%. Citi Flex Plan offers are made available at Citi’s discretion.
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The perks

  • $300 minimum starting deposit.

    Establish your line of credit by depositing as little as $300 or as much as $5,000 into your new Fifth Third interest-bearing savings account.

    If $300 seems like a high minimum deposit, consider another secured-card provider. You’ll find many that let you deposit a minimum of $200, or less.

  • Consistent reporting to the bureaus.

    Fifth Third reports important account information to the three major credit bureaus to help build your credit.

You’ll also like …

  • Extra smartphone protection.

    Use this card to pay your phone bill each month and get protection against theft and damage for a maximum of two claims every 12 months.

  • Purchase and travel benefits.

    The card comes with price protection and extended warranties on eligible purchases made with your card.

    You can also jet-set around the world with access to Mastercard’s travel features. With Airport Concierge, a representative can meet you at airports of your choice and guide you through local bureaucracy. Global Service gives you access to emergency services like card replacements and cash advances.

What to watch out for

  • Annual fee: $24.

    This product may not be wildly expensive, but you’ll find many secured cards without annual fees. For the cost, you might expect this card to offer rewards or other perks to make the fee worth it.

  • Apply in a Fifth Third branch only.

    You’ll need to visit a Fifth Third Bank branch in Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee or West Virginia to open this card. If this is inconvenient, there are plenty of secured cards to apply for online.

  • High interest rate.

    You’ll receive a purchase and balance transfer APR of 25.49% variable. That’s high compared to the average credit card APR of around 16%, though it’s not unheard of for a secured card.

  • High late fees.

    Late payments come with fees of up to $39 — standard across many credit cards.

  • Foreign transaction fees.

    This isn’t the best card for international travel given that each time you use your card abroad you’ll pay 3% of the transaction in fees.

Compare our secured credit cards

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
Citi® Secured Mastercard®
Starting at $200
23.99% variable
$0
580
A no annual fee secured card for people who are new to credit or have limited credit history with a fair to average credit score.
OpenSky® Secured Visa® Credit Card
Starting at $200
18.89% variable
$35
300
A secured Visa® credit card that helps you build your credit quickly.
Applied Bank® Secured Visa® Gold Preferred® Credit Card
Starting at $200
9.99% fixed
$48
300
This secured card can help you rebuild your credit with an initial deposit of $200 to $1,000.
CardMatch™ from creditcards.com
See terms
See issuer's website
See terms
300
Can't decide on a card? Get personalized credit card offers with CardMatch™.
First Progress Platinum Elite MasterCard® Secured Credit Card
Starting at $200
19.99% variable
$29
300
Build your credit with all three major credit bureaus.
Green Dot primor® Mastercard® Classic Secured Credit Card
Starting at $200
13.99% fixed
$39
300
Designed for those with little or poor credit, the Green Dot primor® Mastercard® Classic Secured Credit Card has no minimum credit score requirements and no processing or application fees to worry about.
The First Latitude MasterCard® Secured Credit Card
Starting at $200
25.99% variable
$0
300
No credit history or minimum credit score required for approval.
Capital One® Secured Mastercard®
$49, $99 or $200
26.74% variable
$0
580
Get access to a higher credit line after making your first 5 monthly payments on time.

Compare up to 4 providers

What should I know before I apply?

To apply for this card, you must be at least 18 years old. You must also be a US citizen or a permanent resident of the US.

Required information

Before you visit a First Third Bank branch, have the following information on hand:

  • Your address and contact details.
  • Financial information, such as your total annual income, employment status, monthly housing payment and bank account details.
  • Identifying details such as your Social Security number and mother’s maiden name.

What credit score do I need?

Apply for this card if you’re rebuilding credit, but you may want to have a credit score between 300 and 669. If your credit is too low, your application may still be declined. In that case, you might have better approval odds with a no-credit-check secured card.

What do customers say about the Fifth Third Secured Card?

Fifth Third Bank has been accredited with the Better Business Bureau (BBB) since 1928 and has an A+ rating. Though it has almost 900 customer complaints on its profile, the BBB reports most of them as answered or resolved. This implies that even if you end up having an issue with Fifth Third Bank, it’s likely that you’ll be able to get assistance.

How to apply for the Fifth Third Secured Card

  1. Unlike other secured cards, you’ll need to visit a Fifth Third Bank branch to apply for this card. Click Find a branch to find the nearest location.
  2. Search for a branch by ZIP code, your city or your state.

How long will it take to get my Fifth Third Secured Card?

It may take a few business days up to a few weeks to receive a decision. Upon approval, you can typically expect your card and welcome materials in the mail within seven to 10 days.

Once the bank extends conditional approval, you’ll need to open a Fifth Third interest-bearing savings account and deposit at least $300. The amount you deposit determines your credit limit.

I got the card. Now what?

  • Monitor your spending. The Fifth Third online banking system lets you keep track of your spending and easily make payments online.
  • Avoid interest. After the close of each billing cycle, you’ll have a grace period of at least 23 days to pay off your purchase balance before it accrues interest. Keep in mind that there’s no grace period on balance transfers or cash advances.
  • Avoid fees. Paying late can set you back up to $39. Cash advances, balance transfers and foreign transactions also come with fees.
  • Customer service. For support, call the number on the back of your card. You can also call 800-972-3030 for the personal-banking helpline. If you’d like to connect through social media, you can find the bank on Twitter at @FifthThird or on Facebook @FifthThirdBank.

Bottom line

This card can help you build your credit, but it has an annual fee and a moderately high minimum security deposit. You’ll also have to apply at a Fifth Third Bank branch. Compare your options to find a similar card — perhaps one with rewards or no annual fee.

Frequently asked questions

Images: Fifth Third Bank

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