Truly Simple Card: A no-frills card with a strong intro APR

Truly Simple® Credit Card review – September 2018

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A simple no-annual-fee card with a long intro APR period on balance transfers and purchases

30-seconds take

  • Get this card if you want an intro APR period and a low APR after that.
  • Pick something else if you prefer cashback rewards.
  • Apply with a good to excellent credit score of 680 or higher.
Product NameTruly Simple® Credit Card
Card TypeMastercard
APR (Annual Percentage Rate) for Purchases13.74% to 24.74% variable
Introductory Purchase APR0% for the first 15 billing cycles (then 13.74% to 24.74% variable)
Introductory Balance Transfer APR 0% for the first 15 billing cycles (then 13.74% to 24.74% variable)
Balance Transfer Fee$5 or 4% of the transaction, whichever is greater
Cash Advance Rate26.74% variable
Cash Advance Fee$5 or 4% of the cash advance amount, whichever is greater
Foreign Transaction Fee3% of the transaction value
Interest Free PeriodUp to 23 days
Minimum Interest$1
Late Payment FeeUp to $38
Additional Cardholder Fee$0
Minimum Age18 years of age

The basics

The Truly Simple® Credit Card from Fifth Third Bank could be a good pick if you want a no-annual-fee card with a strong promotional interest rate. You won’t find any rewards, if that’s what you’re looking for, and there’s no signup bonus. However, it does have one of the lowest APRs after the intro period passes, especially if you have a great credit history.

In which states does Fifth Third Bank operates?

The bank has more than 1,200 locations across 10 states:

  • Ohio
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Kentucky
  • Michigan
  • North Carolina
  • Tennessee
  • West Virginia

The perks

  • Intro APR period.

    Enjoy a long 0% intro APR period on balance transfers and purchases for the first 15 billing cycles following your account opening. After that, your rate reverts to a 13.74% to 24.74% variable. This is one of the longest intro APR periods you can get when compared to other cards.

  • No annual fee.

    The card comes with no annual fee, so it’ll cost nothing to own.

    You’ll also like …

    • Cell phone protection.

      When you pay your wireless bill with your card, you’ll qualify for Fifth Third Bank Cell Phone Protection. This covers costs if your phone is damaged or stolen for up to $200. The first two additional phones on your wireless phone bill are also covered. The Cell Phone Protection plan comes with a $50 deductible per claim.

    • No penalty APR.

      This is one of the rare cards without a penalty APR. Other cards have an up to 30% penalty APR that applies as soon as you make a single late or returned payment. What’s worse is you can be stuck with these penalty APRs indefinitely.

    • Shopping benefits.

      Receive a partial reimbursement if you find a lower price on an item you purchased with your card. Also, get extended warranties for eligible items.

    • Mastercard travel benefits.

      Receive special offers like private event invitations and tickets to exclusive events with Priceless® Cities. Also get airport concierge to help you get through immigration quicker, assists you with baggage and more.

    • Digital wallets.

      The card supports Fifth Third Masterpass, Apple Pay, Samsung Pay, Google Pay and Microsoft Wallet to help you pay faster.

    What to watch out for

    • No signup bonus.

      Most credit cards offer a signup bonus when you meet certain criteria. Unfortunately, this card doesn’t have one.

    • Potentially high APR.

      The card’s APR spans from 13.74% to 24.74% variable . If you have a weaker credit history, you may be approved for an interest rate at the higher end of that range. With APRs averaging around 16%, 24.74% is high.

    • Foreign transaction fees.

      For each transaction you make abroad, you’ll pay 3%. This may not seem like much, but it can add up quickly over a trip spanning several days.

    Consider other cards if …

    • You want a similar card from another bank.

      Consider the Citi Simplicity® Card where you get one of the longest 0% intro APR periods on balance transfers and purchases of 18 months following your account opening. After that, a variable APR of 15.74% to 25.74% will apply. This may also be a better choice if you don’t have a superb credit history to get the low APR.

      A similar card is the BankAmericard® Credit Card by Bank of America with a 0% intro APR period on balance transfers and purchases for 15 statement closing dates following your account opening. A variable APR of 14.74% to 24.74% applies thereafter. Or you may consider the BB&T Bright® Credit Card, which offers a long intro APR period, a low APR after that and cash back at participating retailers, such as AT&T, Starbucks and others.

    • You want a low APR.

      The Barclaycard Ring™ Mastercard® offers a competitive APR on balance transfers and purchases of 13.74% variable. You also get a long intro APR period on balance transfers. If you usually carry a balance, this card may be a better choice for you.

    • You want cash back.

      If you mostly spend on groceries, consider the Blue Cash Preferred® Card, which provides a high rate for just that category. Plus you get high cash back at gas stations and select department stores.

      Alternatively, consider the no-annual-fee Uber Visa Card by Barclays where you get 4% back on dining, 3% back on travel purchases, 2% back on online purchases and Uber rides and 1% back on everything else. Or if you want a Fifth Third cashback card, the TRIO® Credit Card could be worth checking out.

    Compare $0 annual fee credit cards

    Name Product Annual Fee APR (Annual Percentage Rate) for Purchases
    14.74%, 18.74% or 24.74% variable
    Earn unlimited 1.5% cash rewards on purchases. See Rates and Fees
    14.74% to 25.74% variable
    Earn 15,000 Membership Rewards® Points after you use your new Card to make $1,000 in purchases in your first 3 months.
    14.74% to 25.74% variable
    Snag a $150 bonus statement credit after you spend $1,000 in the first 3 months
    16.74% to 25.49% variable
    Earn 5% Cash back in bonus categories up to $1,500 every quarter. Earn 1% Cash back on all other purchases.
    16.74% to 25.49% variable
    Earn unlimited 1.5% cash back on every purchase - it's automatic. No minimum to redeem for cash back.
    14.99% to 24.99% variable
    Earn more cash back for the things you buy most.
    15.24% to 25.24% variable
    Earn 1% cash back for payments on purchases, on top of the 1% cash back on purchases. No annual fee.

    Compare up to 4 providers

    How does a balance transfer work with this card?

    You get a 0% intro APR period on balance transfers for the first 15 billing cycles following your account opening. If you still have a balance after that, your account will accrue interest at an APR of 13.74% to 24.74% variable.

    For each transfer you make, you’ll pay a fee of either $5 or 4% of the transaction, whichever is greater. This means a balance transfer of $3,000 will cost you $120.

    What should I know before I apply?

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

    During your application process, you’ll need to provide:

    • Your full name and contact information.
    • Your residential status.
    • Your annual income and employment information.
    • Your Social Security number.
    • A valid driver’s license or state ID.

    What credit score do I need?

    You’ll have a better chance of approval for this card if you apply with a good to excellent credit score of 680 or higher. Of course, a higher credit score and lower credit utilization will get you a lower APR and a higher credit limit.

    What do customers say about the Truly Simple® Credit Card?

    The Better Business Bureau rates the Fifth Third Bank with an A+, and it accredited the bank back in 1928.

    Most card users claim they are happy with the credit line they received, and those who got an APR in the lower range are thrilled they applied for the card.

    How to apply for the Truly Simple® Credit Card

    1. Go to the Fifth Third Bank website and find the Truly Simple® Credit Card from the list of cards. Click Apply now.
    2. Complete the application form with your personal details.
    3. Review and submit your application.

    How long will it take to get my Truly Simple® Credit Card?

    Due to automated preapproval, you’ll likely get a decision within a minute. In the event that more information is needed, Fifth Third Bank will send an answer within 30 days. Upon approval, you should receive your card in the mail within 7 to 10 business days.

    I got the card. Now what?

    • Download the Fifth Third Mobile Banking app. Use it to transfer money and pay your bills, track your transactions, find an ATM and more.
    • Avoid interest. Your grace period is 23 days after the close of each billing cycle. Pay your balance by then to avoid paying interest on your purchases.
    • Avoid fees. Late payments come with fees of up to $38. Balance transfers, cash advances and foreign transactions also come with fees.
    • Customer service. Call Fifth Third Bank support at 1-800-972-3030 for any questions you may have.

    Bottom line

    This is a TRIO® Credit Card with no annual fee and with a long intro APR period on purchases and balance transfers. If that’s what you’re looking for, you could be happy with this card.

    Otherwise, you may consider other low APR or balance transfer credit cards to find the best one for you.

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