Clark Howard

5 Things To Know About the PNC Cash Unlimited® Visa Signature® Credit Card

Are you looking for a good cash back credit card with no annual fee?

The PNC Cash Unlimited® Visa Signature® Credit Card is a new rewards credit card that may be worth considering.

This card promises unlimited 2% cash back on all purchases with no spending category requirements. That meets the rewards threshold that money expert Clark Howard recommends.

And it comes with some cool perks like cell phone protection and an introductory APR offer.

You're probably wondering: "Should I add this to my wallet?"

In this article, we’ll evaluate the important details you need to know before making the decision to apply.

PNC Cash Unlimited® Visa Signature® Credit Card: 5 Things To Know

Here are five things you should know about the PNC Cash Unlimited® Visa Signature® Credit Card before applying:

1. The Cash Back Rewards Meet Clark’s Threshold

First thing’s first. Let’s talk about your cash back rewards opportunity.

Money expert Clark Howard recommends having at least one cash back credit card that offers unlimited 2% cash back with no annual fee.

“I just follow a simple rule: Carry one no-annual-fee card that is a category card and carry one that is a 2% cash back card,” Clark says.
“That way you know that the 2% card is your default unless you’re spending in a category where you know you’ll get more with the category card.”

For example, Clark has a Citi Double Cash® Card in his wallet that earns 2% on all purchases. He's recommended that one to listeners for years.

This card from PNC also offers unlimited 2% back on all purchases. That puts it in good company with several no-annual-fee cards on the market.

2. What the Fine Print Says About Earning 2% Cash Back

Now that we’ve established that this card meets the cash back rewards threshold you should expect, let’s look for any “catches” to getting the rewards that you deserve.

Some of the popular 2% competitors DO have some catches. For example:

Good news! It appears that this PNC Bank offering is mostly free of any sort of stipulation like those listed above.

After a review of the card's terms and conditions, here's a quick rundown of what you can expect from this rewards program:

  • You must qualify for a credit line of at least $5,000 to be eligible for this card.
  • Cash back earned with this card is awarded in the form of points.
    • a statement credit for your credit card
    • a deposit to your eligible PNC Bank consumer checking or savings account
    • a deposit into an eligible PNC investment account
  • You can also redeem your points for gift cards or travel, but the valuation of the points may be impacted by your choice.
  • Points do not expire and there is no earnings cap, but your account does need to stay open and in good standing to enable redemption.

3. You Can Pack This One: There’s No Foreign Transaction Fee

While no one will mistake this card's benefits for those of a high-fee travel credit card, you can add it to the list of credit cards that waive foreign transaction fees when spending abroad.

You will be able to use this credit card for purchases outside the United States without paying a 3-5% foreign transaction fee.

That’s somewhat rare for a no-annual-fee credit card, so kudos to PNC Bank for this perk.

Bonus tip: Make sure you pay in the local currency when swiping your credit card abroad. This will help you avoid more unnecessary conversion fees.

4. You Can Get Cell Phone Protection Coverage

The PNC Cash Unlimited® Visa Signature® Credit Card has a Visa Signature benefits package. One of the top perks offered in PNC’s tier of Visa benefits is cell phone protection:

You can get reimbursed up to $800 if your cell phone is stolen or damaged.

In order to receive this protection, you’ll need to pay for your wireless phone bill with the credit card.

Team Clark has a list of other popular credit cards that carry some form of cell phone protection here.

Other Visa Signature benefits for the PNC card include:

  • Zero liability fraud protection
  • Purchase security for stolen or damaged goods
  • Visa concierge program access

You can read more about this card's Visa Signature benefits here.

5. It Comes With a Pair of 0% Intro APR Offers

There is no welcome bonus for this credit card, but it does offer an introductory 0% APR period for both new purchases and balance transfers.

"0% intro APR on purchases for the first 12 months following account opening. After that, the rate will be your standard purchase APR, currently 19.24% to 30.24%. The purchase APR varies with the market based on the prime rate."

"0% intro APR on qualifying balance transfers for the first 12 months following account opening, when the balance is transferred within the first 90 days following account opening. After that, the rate will be your standard purchase APR, currently 19.24% to 30.24%. The purchase APR varies with the market based on the prime rate."

Balance transfers are subject to a fee that is 3% of the amount of money transferred.

Neither of these introductory APR periods rank among the top on the market, so I don’t recommend signing up for this credit card solely for the usage of them.

Will you add the PNC Cash Unlimited® Visa Signature® Credit Card to your wallet? We’d love to hear what you think about it in the Clark.com community.

The post 5 Things To Know About the PNC Cash Unlimited® Visa Signature® Credit Card appeared first on Clark Howard.

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