PNC Bank "Pre-Selected Offer" - Advice Please

[Anonymous]

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@barbaralee wrote:

I have the Cashbuilder, I got one of those pre-selected things last year and applied. I was automatically declined, called in and reconned and was approved for $4500. They increased it by 1k this year, so now it's at $5500.

For the record, I think my credit has VERY little to do with my approval and credit limit. Obviously it is a factor, but I think with PNC they look more at what is the balance in your accounts, and what your relationship is with them. In my case I have  Performance Select account, and we keep a decent balance in our accounts. Never overdrafted, never accrued any fees, really, other than ATM (which are automatically reimbursed to us). 

I really like the Cashbuilder. It's a decent card if you utilize PNC banking products. If you use the card 5x a month then the interest on the growth is 0.80%, which considering today's measly interest rates is not that bad. Also the 1.75 % is pretty good, also. 2% is more, but it doesn't make that much of a difference unless you are running a lot of money through the card.

I have compared the interest on a few other brick and mortar banks, and PNC is the highest. Also, the Purchase Payback is usually a pretty sweet deal, too. 

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For me, the length of relationship MAY have played a part, but I typically don't run a balance in my checking with them and only recently started running a balance on my savings with them (still under $500).  I also used to run up all types of overdraft fees because I was young and dumb.  And I realize you said "MY credit has very little to do with MY approval" so I am just providing an additional data point where who knows why I was approved...LOL.

[Anonymous]

@barbaralee - Thanks for the input. I'm pretty sure I read one of your posts regarding PNC when I did a search earlier today.

@Rattler2000 - Thanks for your data points as well.

I took the plunge and applied while logged in and used the pre-selected offer. My response was "Thank you for your application. We will contact you shortly."

So now I wait, I guess. Unless maybe calling my local branch tomorrow might help.

[Anonymous]

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@Anonymous wrote:

@barbaralee - Thanks for the input. I'm pretty sure I read one of your posts regarding PNC when I did a search earlier today.

@Anonymous - Thanks for your data points as well.

I took the plunge and applied while logged in and used the pre-selected offer. My response was "Thank you for your application. We will contact you shortly."

So now I wait, I guess. Unless maybe calling my local branch tomorrow might help.

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You're welcome!  Yeah, this is the part that gets nerve-wracking.  Since PNC's approvals are all reviewed manually, it will take several days before you hear anything.  I think I called in after about 5 days and the rep was able to tell me that I was indeed approved and that I should see the card appear on my online account within a couple of days.  I am STILL waiting to receive the card in the mail.  Hopefully it will come today along with my new Kindle Paperwhite.

[CreditUnionFan]

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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.

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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?

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Not easily. You have to be solicited personally for the offer for the specific card product.

My partner was solicited for the points card while I was not. I was talking with a banker and said that if I was preapproved, and they could make me a similar bonus offer, that sure, I'd accept a Cashbuilder card.

The only special APR offer I received was for balance transfers, which I didn't need. I didn't receive any special purchase APR, and didn't receive a new account bonus until I raised the issue. I finally received $100, better than nothing, but not the $175 that they were offering online for the same card at that time.

But, I do use PNC for the 1.75% tier, and Citizens for the 1.8% tier. I'm trying to figure out how long to stay in the garden before applying for either the Fidelity Amex or Citibank Double Cash, or both, lol.