PNC Bank "Pre-Selected Offer" - Advice Please

[Anonymous]

So I've been with PNC Bank for about 6 or 7 years for my checking/savings accounts. Today, when I log into my account, there's a pre-selected offer banner for the PNC Points Visa credit card.

"You're pre-selected for the PNC points® Visa® credit card with even more ways to earn points on your qualifying purchases** and save money. Introductory 0% APR* on balance transfers through August 31, 2016 when the balance is transferred within the first 90 days following account opening and introductory 0% APR on purchases through August 31, 2016. After that the rate will be the standard purchase APR, currently 13.99%. This APR will vary with the market based on the prime rate. Offer expires July 31, 2015."

I would like the PNC Cashbuilder or the Points Visa cards for the "PNC Purchase Payback Rewards" program. It's currently attached to my debit card, and you get offers for 5-10% cashback (or points with the points Visa) on select places every month. Usually I can use this feature every month and get a nice amount of cashback in my checking account, but I don't like using my debit card anymore. I'm trying to put everything on my CCs to maximize rewards. I've checked the My Offers section of the site every time I log into my account since I started rebuilding my credit and this is the first time anything has shown up.

However, I've obtained quite a few accounts recently. So not sure how they'd feel about that. But there's a set APR and it'd be my lowest APR of all my cards (with the exception of my USAA secured).

Should I take the offer before July 31st or wait it out and hope it'll pop again later down the road?

[Anonymous]

If it's something you want go for it

[kdm31091]

Everything I've read says that the PNC points is a useless card because although you get 4x per dollar, they're only worth 25c, so it's a 1% card masquerading as something more special.

The Cash Builder seems like it could be decent if you have enough money with them to get the 1.50-1.75% tiers. If you want it, go for it...with the set APR and all you'll probably be fine. You don't always have to app for what they sent you a prequal for. Unless underwriting is vastly different for Cash Builder you should be okay.

[Anonymous]

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@kdm31091 wrote:

Everything I've read says that the PNC points is a useless card because although you get 4x per dollar, they're only worth 25c, so it's a 1% card masquerading as something more special.

The Cash Builder seems like it could be decent if you have enough money with them to get the 1.50-1.75% tiers. If you want it, go for it...with the set APR and all you'll probably be fine. You don't always have to app for what they sent you a prequal for. Unless underwriting is vastly different for Cash Builder you should be okay.

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That is true, but I don't really mind the base rewards because I wouldn't use it for an every day purchase card. Just the 5-10% monthly bonuses (they're great and I love them but I don't want to use my debit card for these anymore) and the 0% promotional APR. Plus the 13.99% is 3% lower than my lowest APR on an unsecured card.

[Anonymous]

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@kdm31091 wrote:

Everything I've read says that the PNC points is a useless card because although you get 4x per dollar, they're only worth 25c, so it's a 1% card masquerading as something more special.

The Cash Builder seems like it could be decent if you have enough money with them to get the 1.50-1.75% tiers. If you want it, go for it...with the set APR and all you'll probably be fine. You don't always have to app for what they sent you a prequal for. Unless underwriting is vastly different for Cash Builder you should be okay.

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New question...

If I get the offer for the Points Visa, and I apply for the Cash Builder Visa... Will I still get a sign up bonus, the 0% APR til August and then the 13.99% APR?

[Anonymous]

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@Anonymous wrote:

So I've been with PNC Bank for about 6 or 7 years for my checking/savings accounts. Today, when I log into my account, there's a pre-selected offer banner for the PNC Points Visa credit card.

"You're pre-selected for the PNC points® Visa® credit card with even more ways to earn points on your qualifying purchases** and save money. Introductory 0% APR* on balance transfers through August 31, 2016 when the balance is transferred within the first 90 days following account opening and introductory 0% APR on purchases through August 31, 2016. After that the rate will be the standard purchase APR, currently 13.99%. This APR will vary with the market based on the prime rate. Offer expires July 31, 2015."

I would like the PNC Cashbuilder or the Points Visa cards for the "PNC Purchase Payback Rewards" program. It's currently attached to my debit card, and you get offers for 5-10% cashback (or points with the points Visa) on select places every month. Usually I can use this feature every month and get a nice amount of cashback in my checking account, but I don't like using my debit card anymore. I'm trying to put everything on my CCs to maximize rewards. I've checked the My Offers section of the site every time I log into my account since I started rebuilding my credit and this is the first time anything has shown up.

However, I've obtained quite a few accounts recently. So not sure how they'd feel about that. But there's a set APR and it'd be my lowest APR of all my cards (with the exception of my USAA secured).

Should I take the offer before July 31st or wait it out and hope it'll pop again later down the road?

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PNC Bank sends me the same offer in the mail every month like clockwork. I don't really want the points card, so I've never applied, but if you want the card and have the credit profile to support it, then go ahead and apply. I personally would prefer the Cash Builder, because I would qualify for the 1.5%, and I still use my debit card for the Purchase Payback. I have their Virtual Wallet program, but it came with a higher interest rate that I was grandfathered into, so I have to use my debit card 5 timez every month to maintain that interest rate.

If you think it will work for you, then go ahead. I personally have never gotten a letter about the Cash Builder card.

[Anonymous]

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@Anonymous wrote:

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@kdm31091 wrote:

Everything I've read says that the PNC points is a useless card because although you get 4x per dollar, they're only worth 25c, so it's a 1% card masquerading as something more special.

The Cash Builder seems like it could be decent if you have enough money with them to get the 1.50-1.75% tiers. If you want it, go for it...with the set APR and all you'll probably be fine. You don't always have to app for what they sent you a prequal for. Unless underwriting is vastly different for Cash Builder you should be okay.

---

New question...

If I get the offer for the Points Visa, and I apply for the Cash Builder Visa... Will I still get a sign up bonus, the 0% APR til August and then the 13.99% APR?

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No. The code they give on the letter will only work for the points card. You can still apply for the Cash Builder, which may have a bonus introductory offer, but it won't be the same as what the letter describes.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

So I've been with PNC Bank for about 6 or 7 years for my checking/savings accounts. Today, when I log into my account, there's a pre-selected offer banner for the PNC Points Visa credit card.

"You're pre-selected for the PNC points® Visa® credit card with even more ways to earn points on your qualifying purchases** and save money. Introductory 0% APR* on balance transfers through August 31, 2016 when the balance is transferred within the first 90 days following account opening and introductory 0% APR on purchases through August 31, 2016. After that the rate will be the standard purchase APR, currently 13.99%. This APR will vary with the market based on the prime rate. Offer expires July 31, 2015."

I would like the PNC Cashbuilder or the Points Visa cards for the "PNC Purchase Payback Rewards" program. It's currently attached to my debit card, and you get offers for 5-10% cashback (or points with the points Visa) on select places every month. Usually I can use this feature every month and get a nice amount of cashback in my checking account, but I don't like using my debit card anymore. I'm trying to put everything on my CCs to maximize rewards. I've checked the My Offers section of the site every time I log into my account since I started rebuilding my credit and this is the first time anything has shown up.

However, I've obtained quite a few accounts recently. So not sure how they'd feel about that. But there's a set APR and it'd be my lowest APR of all my cards (with the exception of my USAA secured).

Should I take the offer before July 31st or wait it out and hope it'll pop again later down the road?

---

PNC Bank sends me the same offer in the mail every month like clockwork. I don't really want the points card, so I've never applied, but if you want the card and have the credit profile to support it, then go ahead and apply. I personally would prefer the Cash Builder, because I would qualify for the 1.5%, and I still use my debit card for the Purchase Payback. I have their Virtual Wallet program, but it came with a higher interest rate that I was grandfathered into, so I have to use my debit card 5 timez every month to maintain that interest rate.

If you think it will work for you, then go ahead. I personally have never gotten a letter about the Cash Builder card.

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Thanks for your input! Yeah, I'd rather the Cash Builder too.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@kdm31091 wrote:

Everything I've read says that the PNC points is a useless card because although you get 4x per dollar, they're only worth 25c, so it's a 1% card masquerading as something more special.

The Cash Builder seems like it could be decent if you have enough money with them to get the 1.50-1.75% tiers. If you want it, go for it...with the set APR and all you'll probably be fine. You don't always have to app for what they sent you a prequal for. Unless underwriting is vastly different for Cash Builder you should be okay.

---

New question...

If I get the offer for the Points Visa, and I apply for the Cash Builder Visa... Will I still get a sign up bonus, the 0% APR til August and then the 13.99% APR?

---

No. The code they give on the letter will only work for the points card. You can still apply for the Cash Builder, which may have a bonus introductory offer, but it won't be the same as what the letter describes.

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That's what I figured.

[Anonymous]

I just received the same offer within the past couple of weeks.  I decided to take it because I have wanted an overdraft backup outside of my savings account through PNC.  I will say that I was surprised I received the offer being as though I have a lot of new credit and didn't think after all these years, I would ever qualify through them.

The BT and purchase offers were what pushed me over to apply, but now here's the downside.  All of my recent apps beginning with Venture have been 15K or better (in fact I now have five cards at or above the 15K mark)...i finally get notice that the PNC card was approved but the limit was $1,500...WOMP WOMP WOMP.  That doesn't really help me in the BT area as the balance I wanted to transfer was $800.

I spoke to a rep and she stated that any CLIs would be hard pulls and so would a recon.  So honestly, there is no point in me even trying to get the initial limit raised since my credit profile hasn't changed since the SP that garnered the offer.  So now I know I need to wait another year until I can afford another hard pull in order to make the card useful.

However, even with all that happening...I am glad to have this relationship established with PNC and hopefully I can make it grow in the future.  I personally like the points program and made great use of it before they moved it to the purchase payback program.  Got some great gift card redemptions for holiday shoppign a few years back.  I know I'm not leaving PNC anytime soon since I have banked with them since they took over the bank I was with since I was about 13.