The failure of one solder joint out of the hundreds of joints in a system compromises the reliability of the electronics assembly. Thermal cycling is a result of both creep–fatigue mechanisms working together. To better understand the failure process in thermal cycling, it is crucial to analyze both the effects of creep and fatigue mechanisms in a methodical manner. In this work, individual solder junctions are subjected to accelerated shear fatigue testing to investigate the effects of creep and fatigue on joint dependability at room temperature. A modified fixture is used to conduct fatigue tests on an Instron 5948 micromechanical tester. SAC305 joints with an OSP surface finish were cycled under stress control at first, and then the strain was maintained for a set amount of time. In this investigation, three stress amplitudes of 16, 20, and 24 MPa are used, together with varying residence periods of 0, 10, 60, and 180 s. The fatigue life of solder junctions is described for each testing condition using the two-parameter Weibull distribution. Additionally, as a function of stress amplitude and residence time, a dependability model is created. For each testing scenario, the progression of the stress–strain loops was studied. By quantifying relevant damage metrics, such as plastic work per cycle and plastic strain at various testing circumstances, the damage due to fatigue is distinguished from creep. To investigate the relationships between plastic work and plastic strain with fatigue life, the Coffin–Manson and Morrow Energy model is used. The results indicate that using greater stress magnitudes or longer dwell periods significantly shortens fatigue life and dramatically increases plastic work and plastic strain. The housing impact is significant; in some circumstances, testing with a longer dwelling period and lower stress amplitude resulted in more damage than testing with a shorter dwelling period and higher stress levels. When illustrating the fatigue behavior of solder junctions under various stress amplitudes or dwellings, the Coffin–Manson and Morrow Energy model were both useful. In the end, general reliability models are developed as functions of plastic work and plastic strain.