Fifth Third Launches Truly Simple Card for Debt Consolidation

Fifth Third Bank has introduced the Truly Simple credit card for consumers seeking to consolidate high-interest balances and simplify repayment. The offering targets borrowers carrying revolving card debt, giving them a temporary window to reduce interest costs while combining obligations under one account. The launch reflects intensifying competition among US banks for balance-transfer customers as elevated borrowing rates make credit-card debt more expensive to maintain.

The card offers a 0% introductory annual percentage rate for 18 months on eligible balance transfers, after which interest is charged according to the account terms. Customers can initiate transfers and manage payments through Fifth Third’s mobile banking app. Truly Simple cardholders also receive access to applicable Mastercard partner benefits, adding payment-network perks to a product primarily positioned as a debt-consolidation tool.