topic Re: PNC Unlimited Cash Declin in Credit Card Applications

PNC Unlimited Cash Decline

chuckwood — Sat, 21 Sep 2024 21:13:46 GMT

I currently have a PNC points card that was converted from BBVA years ago with a 43k limit. I do use it every few months so it does not sit dormant. I have been getting monthly emails about the Unlimited Cash so I decided to apply. I was declined and when I recieved the letter the only reason they listed was number of revolving accounts. The credit score they provided was 813 they pulled Experian. There is not really alot of info on PNC besides them being conservative. Do they do recons? Would I be waisting my time and if I should try what would be the best way to do it. Any help would be appreciated.

Re: PNC Unlimited Cash Decline

CreditCuriosity — Sat, 21 Sep 2024 21:40:06 GMT

Thanks for the DP. I am not sure you can recon for that card or not. Yes they have always been a bit on the conservative side but sounds like you have a healthy CL with them currently as well. They use to not be really sensitive about new credit as applied for a few of their cards with 20+ cards and slews of new accounts this was 3-5 years ago though and haven't applied for this card although was tempted as well due to $250 sign-up bonus and decent card all around. UW always changes with any lender as sounds like they are using a term mainly CU's use and places possibly like cap1 etc they just think you have and likely do have a lot of credit and credit cards with other lenders and they think they likely won't be used would be my guess of their denial reason and thinking you might just be going for the sub.

Re: PNC Unlimited Cash Declin

AndySoCal — Sat, 21 Sep 2024 21:49:18 GMT

@chuckwood Have you thought about doing a product change using PNC points credit card to Unlimited cash back? Downside to the suggestion is you would not be eligible for the SUB. If that recon does not work out if you decide to it and or the product change does not work here is another idea. Three credit unions listed below offer 2% cash back credit cards that can be prequalified for. If approved you would need to join the credit union to get the card.

State Department Federal Credit Union

Dover Federal Credit Union

Fortera Federal Credit Union - They have a couple credit cards with 2% cash back

For whatever it is worth I used the prequalify option with State Department FCU. The prequal is a soft pull. The app itself is a hard pull. I have been happy with credit union. I am also a member of Fortera FCU have not used the prequalify with them. All three have easy membership qualifications.

Re: PNC Unlimited Cash Declin

chuckwood — Mon, 23 Sep 2024 13:40:41 GMT

@AndySoCal wrote:
@chuckwood Have you thought about doing a product change using PNC points credit card to Unlimited cash back? Downside to the suggestion is you would not be eligible for the SUB. If that recon does not work out if you decide to it and or the product change does not work here is another idea. Three credit unions listed below offer 2% cash back credit cards that can be prequalified for. If approved you would need to join the credit union to get the card.
State Department Federal Credit Union
Dover Federal Credit Union
Fortera Federal Credit Union - They have a couple credit cards with 2% cash back

For whatever it is worth I used the prequalify option with State Department FCU. The prequal is a soft pull. The app itself is a hard pull. I have been happy with credit union. I am also a member of Fortera FCU have not used the prequalify with them. All three have easy membership qualifications.

I called and they told me they do not do product changes and to do a recon I have to go to a branch so I have a appointment for later today to see. I wouldn't have minded a product change because the points card is worthless but we will see what happens.

Re: PNC Unlimited Cash Declin

Wavester64 — Mon, 23 Sep 2024 19:57:33 GMT

@chuckwood wrote:
@AndySoCal wrote:
@chuckwood Have you thought about doing a product change using PNC points credit card to Unlimited cash back? Downside to the suggestion is you would not be eligible for the SUB. If that recon does not work out if you decide to it and or the product change does not work here is another idea. Three credit unions listed below offer 2% cash back credit cards that can be prequalified for. If approved you would need to join the credit union to get the card.
State Department Federal Credit Union
Dover Federal Credit Union
Fortera Federal Credit Union - They have a couple credit cards with 2% cash back

For whatever it is worth I used the prequalify option with State Department FCU. The prequal is a soft pull. The app itself is a hard pull. I have been happy with credit union. I am also a member of Fortera FCU have not used the prequalify with them. All three have easy membership qualifications.
I called and they told me they do not do product changes and to do a recon I have to go to a branch so I have a appointment for later today to see. I wouldn't have minded a product change because the points card is worthless but we will see what happens.

Good Luck @chuckwood ! I look forward to hearing how it went.

Re: PNC Unlimited Cash Declin

chuckwood — Mon, 23 Sep 2024 22:45:46 GMT

Went to the branch today and the lady at the branch got on the phone with underwriting and the underwriter said they could not approve it because I had an excessive number of revolving accounts (10) and they do not do product changes and that closing my points card would not help to get that one approved. I asked several questions including what would be a number they would look for. She would not answer my questions and proceeded to tell me to close unused accounts and after they reported to reapply. Why would someone close accounts just to maybe have a shot at a run of the mill card? I guess I will know next time to leave them off my list. Hope this helps others.

Re: PNC Unlimited Cash Declin

CreditCuriosity — Mon, 23 Sep 2024 23:01:00 GMT

@chuckwood wrote:
Went to the branch today and the lady at the branch got on the phone with underwriting and the underwriter said they could not approve it because I had an excessive number of revolving accounts (10) and they do not do product changes and that closing my points card would not help to get that one approved. I asked several questions including what would be a number they would look for. She would not answer my questions and proceeded to tell me to close unused accounts and after they reported to reapply. Why would someone close accounts just to maybe have a shot at a run of the mill card? I guess I will know next time to leave them off my list. Hope this helps others.

Thanks for the follow-up yes they deffinetly got more stick then as had over 20-25 cards when I was last approved for a new card with them.

Re: PNC Unlimited Cash Declin

AndySoCal — Tue, 24 Sep 2024 02:26:47 GMT

@chuckwood Sorry the recon and product change did not work out for you. If it were me I would close the PNC card. Some have sock drawers for card(s) they are not using I do not. Either I have a use for the card or I close it but that is just me. Take a day or two and think about what your course of action will be.

Re: PNC Unlimited Cash Declin

chuckwood — Tue, 24 Sep 2024 13:23:37 GMT

@AndySoCal wrote:
@chuckwood Sorry the recon and product change did not work out for you. If it were me I would close the PNC card. Some have sock drawers for card(s) they are not using I do not. Either I have a use for the card or I close it but that is just me. Take a day or two and think about what your course of action will be.

I thought about it and still might but did not want to make any rash dicisions.

Re: PNC Unlimited Cash Declin

chuckwood — Wed, 25 Sep 2024 23:40:34 GMT

I decided to try for an Amazon Chase card and they didn't think I had too many accounts. I was rewarded with a 32k limit so I axed the PNC points card.

Re: PNC Unlimited Cash Declin

ChargedUp — Fri, 27 Sep 2024 01:02:49 GMT

The one and only reason My PNC Points card is still around is that they send me a consistent flow of BT offers that aren't all bad. I've used them twice for unexpected expenses. I've already got a 2% card with the FNBO Jeep MC, so the new PNC card would only be for the SUB and maybe back up.

Congrats on the very solid Chase approval!

Re: PNC Unlimited Cash Decline

titancylinder — Sat, 28 Sep 2024 03:15:14 GMT

@chuckwood wrote:
I currently have a PNC points card that was converted from BBVA years ago with a 43k limit. I do use it every few months so it does not sit dormant. I have been getting monthly emails about the Unlimited Cash so I decided to apply. I was declined and when I recieved the letter the only reason they listed was number of revolving accounts. The credit score they provided was 813 they pulled Experian. There is not really alot of info on PNC besides them being conservative. Do they do recons? Would I be waisting my time and if I should try what would be the best way to do it. Any help would be appreciated.

You should have applied in branch. Their branch managers have direct access to the underwriting team and can "go to bat" for you. PNC is definitely a relationship bank.

Re: PNC Unlimited Cash Decline

chuckwood — Mon, 30 Sep 2024 15:54:31 GMT

@titancylinder wrote:
@chuckwood wrote:
I currently have a PNC points card that was converted from BBVA years ago with a 43k limit. I do use it every few months so it does not sit dormant. I have been getting monthly emails about the Unlimited Cash so I decided to apply. I was declined and when I recieved the letter the only reason they listed was number of revolving accounts. The credit score they provided was 813 they pulled Experian. There is not really alot of info on PNC besides them being conservative. Do they do recons? Would I be waisting my time and if I should try what would be the best way to do it. Any help would be appreciated.
You should have applied in branch. Their branch managers have direct access to the underwriting team and can "go to bat" for you. PNC is definitely a relationship bank.

Unfortunately I kinda figired that out after by talking to lady at the bank

Re: PNC Unlimited Cash Declin

Aim_High — Mon, 07 Oct 2024 23:16:58 GMT

@chuckwood wrote:
... the underwriter said they could not approve it because I had an excessive number of revolving accounts (10) ...

LMAO ...

Well, that eliminates 95% of My FICO.

Sorry for your decline but thanks for those data points, @chuckwood. I had considered applying for this card but looks like it would have been a huge wasted effort.

Re: PNC Unlimited Cash Declin

chuckwood — Tue, 08 Oct 2024 01:01:35 GMT

I seen someone got approved for it and there signature show alot of cards but they had a checking/savings with them so I think they are more stricked if you don't have a checking/savings with them. Oh well it was just 1 hp and I learned from it. I am not about to let them hold my money for pennys because they have typical big bank savings rates for a run of the mill card.

Re: PNC Unlimited Cash Decline

noonway — Wed, 09 Oct 2024 15:39:44 GMT

PNC is my regular bank and has been for decades... My BK13 doesn't fall off EX or EQ until next year (just fell off TU). I tried to get cute today since I received an invitation for this card to apply. Super quick decline and a useless hard pull. Good info here in this post though, I should have come here first.

Re: PNC Unlimited Cash Decline

UncleB — Mon, 14 Oct 2024 04:59:13 GMT

@ChargedUp wrote:
The one and only reason My PNC Points card is still around is that they send me a consistent flow of BT offers that aren't all bad. I've used them twice for unexpected expenses. I've already got a 2% card with the FNBO Jeep MC, so the new PNC card would only be for the SUB and maybe back up.

Congrats on the very solid Chase approval!

This is me as well.

I have the 'points' card (force-converted from a quite useful BBVA card) and a Cash Rewards I opened just for the bonus. I keep them both around due to the BT offers, and that's literally the only reason.

FWIW, when I applied for the Cash Rewards early last year I had around 30 cards, and other than an annoying ID verification issue the approval was quick. I tend to think the "too many cards" excuse is just that, since it seems with an existing relationship they aren't as concerned.

Just my 2¢.

Re: PNC Unlimited Cash Decline

chhull00 — Fri, 25 Oct 2024 08:08:23 GMT

Dont feel too bad about that , they did same to me and same reason for denile, so i severed all ties with PNC since i assume they dont want my bussiness, better cards out there definitly.

@chuckwood wrote:
I currently have a PNC points card that was converted from BBVA years ago with a 43k limit. I do use it every few months so it does not sit dormant. I have been getting monthly emails about the Unlimited Cash so I decided to apply. I was declined and when I recieved the letter the only reason they listed was number of revolving accounts. The credit score they provided was 813 they pulled Experian. There is not really alot of info on PNC besides them being conservative. Do they do recons? Would I be waisting my time and if I should try what would be the best way to do it. Any help would be appreciated.

Re: PNC Unlimited Cash Decline

hzynneb — Sat, 26 Oct 2024 15:12:47 GMT

PNC is conservative for no reason. None of their products is really exciting, or that you can't get elsewhere. They been sending me invites and offers since I started banking with them. All the DPs I read about them gives me a huge "don't even bother" vibe. Their online banking is still stuck in the 90s. Customer service is also meh.

Re: PNC Unlimited Cash Decline

UncleB — Tue, 29 Oct 2024 01:53:58 GMT

@hzynneb wrote:
PNC is conservative for no reason. None of their products is really exciting, or that you can't get elsewhere. They been sending me invites and offers since I started banking with them. All the DPs I read about them gives me a huge "don't even bother" vibe. Their online banking is still stuck in the 90s. Customer service is also meh.

LOL, I was thinking this just a few days ago when I had to go to the website.