topic Re: BBVA credit card conversion to PNC products in Credit Cards

BBVA credit card conversion to PNC products

user979797 — Thu, 03 Jun 2021 21:33:46 GMT

According to the lastest update posted on BBVA's website yesterday, it looks like BBVA credit cards are going to be converted to PNC credit card products. I was for some reason hoping that they would maintain the BBVA structure but according to the wording they are using it appears that BBVA products will be converted into PNC products. PNC lists their credit card products so check and see if any of their cards would be a good replacement for Clearpoints. https://www.pnc.com/en/about-pnc/topics/acquisition-update.html?WT.ac=bbva-home

Re: BBVA credit card conversion to PNC products

CreditCuriosity — Thu, 03 Jun 2021 21:54:20 GMT

Wonder when this is going to happen is it going to be like truist where they are merged, but not really merged as they each have their own CC offerings, etc.. I have BBVA and two PNC cards so see what happens when it happens I suppose, but speculate based on truist it has a ways to go. Company I work for bought another company recently although not a bank still financial in nature it will take a few years to integrate our products into standards, although we have already started standardizing our UW and getting rid of bad risks that we know will cost us money and not worth the rate increase alone (insurance/financial).

Re: BBVA credit card conversion to PNC products

FinStar — Thu, 03 Jun 2021 22:08:30 GMT

@CreditCuriosity wrote:
Wonder when this is going to happen is it going to be like truist where they are merged, but not really merged as they each have their own CC offerings, etc.. I have BBVA and two PNC cards so see what happens when it happens I suppose, but speculate based on truist it has a ways to go. Company I work for bought another company recently although not a bank still financial in nature it will take a few years to integrate our products into standards, although we have already started standardizing our UW and getting rid of bad risks that we know will cost us money and not worth the rate increase alone (insurance/financial).

According to this post in CIN, sometime around October. But, it's still unknown whether that timeframe is still a 'soft' target and/or which products will go through integration phases.

https://ficoforums.myfico.com/t5/Credit-in-the-News/Update-PNC-to-buy-BBVA/m-p/6342056#M25006

Re: BBVA credit card conversion to PNC products

Anonymous — Thu, 03 Jun 2021 22:23:14 GMT

I hope they give us a choice of which credit card we want. I got the clearpoints card in 2019.

@user979797 wrote:
According to the lastest update posted on BBVA's website yesterday, it looks like BBVA credit cards are going to be converted to PNC credit card products. I was for some reason hoping that they would maintain the BBVA structure but according to the wording they are using it appears that BBVA products will be converted into PNC products. PNC lists their credit card products so check and see if any of their cards would be a good replacement for Clearpoints.

Re: BBVA credit card conversion to PNC products

cr101 — Thu, 03 Jun 2021 23:35:25 GMT

The article says that we'll hear more in Aug and the conversion's slated for Oct. So bummed. I just got the card and don't want a 'new acct' on my reports. Any idea how they handled past acquistions/conversions? What are the chances that this won't be a 'new' account with the bureaus?

Re: BBVA credit card conversion to PNC products

FinStar — Thu, 03 Jun 2021 23:45:26 GMT

@cr101 wrote:
The article says that we'll hear more in Aug and the conversion's slated for Oct. So bummed. I just got the card and don't want a 'new acct' on my reports. Any idea how they handled past acquistions/conversions? What are the chances that this won't be a 'new' account with the bureaus?

PNC acquired National City around 2008 and nothing happened (i.e.accounts reporting as new). While it's too early too tell what the outcome will be, it's doubtful that PNC acquiring BBVA will result in accounts reporting as new. What is most concerning for a lot of members who have the ClearPoints and/or Rewards CCs (even Select) is how those particular products will be aligned or integrated into the PNC family of cards. So, we'll just have to wait and see how that will pan out.

Re: BBVA credit card conversion to PNC products

Anonymous — Fri, 04 Jun 2021 01:28:53 GMT

I guess PNC wants to lose all of the credit card accounts because their own credit cards are pretty meh compared to BBVA's...

Re: BBVA credit card conversion to PNC products

Anonymous — Fri, 04 Jun 2021 01:35:11 GMT

Hopefully they let me keep all 4 of my BBVA cards LOL

Re: BBVA credit card conversion to PNC products

FinStar — Fri, 04 Jun 2021 02:00:43 GMT

@Anonymous wrote:
I guess PNC wants to lose all of the credit card accounts because their own credit cards are pretty meh compared to BBVA's...

Do you know for sure if this is what will take place because myFICO [BBVA] cardholders represent a fairly small fraction of all BBVA accounts. Unless you have inside information, we really don't know the final outcome as to how this will shape up. It's possible the merger will provide PNC an opportunity to refresh their products, but nothing definitive as of yet.

Re: BBVA credit card conversion to PNC products

ChargedUp — Fri, 04 Jun 2021 02:22:26 GMT

@FinStar wrote:
@Anonymous wrote:
I guess PNC wants to lose all of the credit card accounts because their own credit cards are pretty meh compared to BBVA's...
Do you know for sure if this is what will take place because myFICO [BBVA] cardholders represent a fairly small fraction of all BBVA accounts. Unless you have inside information, we really don't know the final outcome as to how this will shape up. It's possible the merger will provide PNC an opportunity to refresh their products, but nothing definitive as of yet.

As a holder of both BBVA Clearpoints and PNC Cash Rewards, I'm intrigued as to what they'll decide the Clearpoints would align with. Having AOD pretty much makes Clearpoints irrelevant to me, so I'm hoping they come up with something provocative. Whatever becomes of Clearpoints, at least it'll be a SP for CLI's and one will never have to deal with BBVA's less than stellar CSR's again.

Re: BBVA credit card conversion to PNC products

Anonymous — Fri, 04 Jun 2021 04:52:55 GMT

@FinStar wrote:
@Anonymous wrote:
I guess PNC wants to lose all of the credit card accounts because their own credit cards are pretty meh compared to BBVA's...
Do you know for sure if this is what will take place because myFICO [BBVA] cardholders represent a fairly small fraction of all BBVA accounts. Unless you have inside information, we really don't know the final outcome as to how this will shape up. It's possible the merger will provide PNC an opportunity to refresh their products, but nothing definitive as of yet.

My post was a reply to the topic of the thread, nothing more. I figured that would be pretty clear seeing how I didn't say anything further.

I'll be bummed out if the ClearPoints goes away. I noticed that nobody got a targeted offer this month either so yeah, I'm not thinking these changes are going to benefit us here. I guess we will see what happens.

PNC should at least keep BBVA's 2% card because while a lot of people will probably be okay with PNC's Cash Rewards replacing ClearPoints, people who went out of their way to apply for the BBVA Rewards card won't be amused at having to go find another 2% card.

Re: BBVA credit card conversion to PNC products

cr101 — Fri, 04 Jun 2021 05:48:07 GMT

@ChargedUp wrote:
@FinStar wrote:
@Anonymous wrote:
I guess PNC wants to lose all of the credit card accounts because their own credit cards are pretty meh compared to BBVA's...
Do you know for sure if this is what will take place because myFICO [BBVA] cardholders represent a fairly small fraction of all BBVA accounts. Unless you have inside information, we really don't know the final outcome as to how this will shape up. It's possible the merger will provide PNC an opportunity to refresh their products, but nothing definitive as of yet.

As a holder of both BBVA Clearpoints and PNC Cash Rewards, I'm intrigued as to what they'll decide the Clearpoints would align with. Having AOD pretty much makes Clearpoints irrelevant to me, so I'm hoping they come up with something provocative. Whatever becomes of Clearpoints, at least it'll be a SP for CLI's and one will never have to deal with BBVA's less than stellar CSR's again.

Two silver lingings with the conversion! More interested in the SP CLI. Their service is like night and day. PNC actually has amazing service.

Re: BBVA credit card conversion to PNC products

DaveInAZ — Fri, 04 Jun 2021 17:04:18 GMT

@Anonymous wrote:

I'll be bummed out if the ClearPoints goes away. I noticed that nobody got a targeted offer this month either so yeah, I'm not thinking these changes are going to benefit us here. I guess we will see what happens.
- I figured we wouldn't get an offer this month after 2 months of the generous 10% offer up to $50. The final purchase price for bank mergers is often determined by the amount of banking account deposits and CC balances; BBVA like was trying to boost balances.

PNC should at least keep BBVA's 2% card because while a lot of people will probably be okay with PNC's Cash Rewards replacing ClearPoints, people who went out of their way to apply for the BBVA Rewards card won't be amused at having to go find another 2% card.

The BBVA Rewards card required a $1k monthly "deposit" to make it a 2% card instead of 1.5%. Any ACH deposit worked and I used to do that but stopped bothering with that a couple months ago, I have 2 other 2% cards and a pre-qual for FNBO Evergreen 2% that I might take. PNC can convert that card to whatever they want, but I would miss Clearpoints.

As for your OP that PNC cards are pretty meh, I agree. I have their Cash Rewards card but just put a 15 month 0% BT on it which means I'll stop using it as you lose the interest free grace period on new purchases. But 4% cashback for gas was no big loss; not a big spend for me with short commute and car that gets 35mpg.

Re: BBVA credit card conversion to PNC products

ChargedUp — Fri, 04 Jun 2021 18:08:33 GMT

Something interesting... every 7-eleven store I've been to has coded as a gas station with PNC whether it sells fuel or not.

4% on Slurpees makes the kids happy 😁

Re: BBVA credit card conversion to PNC products

TheBoondocks — Sat, 05 Jun 2021 03:10:56 GMT

Hopefully, we could see more of the conversion process. But, I think they're going to convert the bbva to pnc cash rewards

Re: BBVA credit card conversion to PNC products

ChargedUp — Sat, 05 Jun 2021 03:37:22 GMT

@TheBoondocks wrote:
Hopefully, we could see more of the conversion process. But, I think they're going to convert the bbva to pnc cash rewards

Everything at this point is speculation. It's wholly possible that PNC could add new card products to their own line in the midst of converting BBVA cards over. I do agree with @Anonymous that PNC's current card offerings could use a refreshing for the most part. I personally grabbed the Cash Rewards card for 4% gas (in a process I started before Elan's Max Cash happened.) and to add a new lender to my lineup.

PNC is big enough that they ~~could~~ should be able to come up with something similar to our current Elan/USB flavor of the month which I'd call an improvement on the current Clearpoint product. Possibly a 2% everything uncapped card as well, but those are popping up more and more places (like the FNBO Evergreen we've all been reading about on here lately.). Personally I'd rather a 5% rotator like Freedom and Discover that brought some new categories/merchants to the table over a 2% card.

If PNC does do a 2% card, they should do it with NO FTF and market it to those with an eBay MC on their reports.

Re: BBVA credit card conversion to PNC products

FieryDance — Fri, 11 Jun 2021 00:15:00 GMT

Curious to see what my Select card gets converted to. I am hoping for a non AF card and the conversion happens before my next AF is posted at the end of the year. The scheduled timeline is very tight for my purpose though. Lol

Ideally PNC keeps or launches its own equivalent of "ClearPoints".

Re: BBVA credit card conversion to PNC products

Anonymous — Tue, 15 Jun 2021 12:20:37 GMT

This makes me so sad. I love my clear points card for utilities. I will need to figure out a replacement.

Re: BBVA credit card conversion to PNC products

gdale6 — Tue, 15 Jun 2021 15:31:20 GMT

Speculation on what might happen with the clearpoints card isnt going to do anyone any good. For PNC to take a BBVA product and force convert it would be a move that would hurt not help them. Most banks retain whatever rewards structure there is when another is bought out. It would be foolish for PNC to move to fast in evaluating BBVAs card portfolio.

Re: BBVA credit card conversion to PNC products

cr101 — Tue, 15 Jun 2021 16:54:08 GMT

@gdale6 wrote:
Speculation on what might happen with the clearpoints card isnt going to do anyone any good. For PNC to take a BBVA product and force convert it would be a move that would hurt not help them. Most banks retain whatever rewards structure there is when another is bought out. It would be foolish for PNC to move to fast in evaluating BBVAs card portfolio.

I'm prepared to be converted, based on the info on their site (below). The beating around the bush made it clear to me that they know that they're going to convert us, but they don't want to say it yet.