When building business credit, it’s crucial to understand all of your options. Lately, many company owners, especially existing PNC business banking clients, are interested in learning more about PNC business credit cards. The bank offers five options, all with their own rewards systems and varying interest rates.
So, what makes PNC Bank’s credit offerings stand out? How do the cards stack up against one another? And, what else do you need to know before you apply? Find out here.
What is a PNC Business Credit Card?
A PNC business credit card is a line of revolving credit extended to a business by PNC Bank. The company is a portfolio lender which means they lend their own money and they do not sell their loans or lines of credit to third parties. So, a PNC credit card is arguably a good one to get.
PNC Business Credit Card Comparison
Find out which PNC business credit cards have a 0% introductory APR, cashback rewards, an annual fee, points, and other bonuses below.
|0% Intro APR||Cashback||Annual Fee||Points||Bonus|
|PNC Cash Rewards® Visa Signature® Business Credit Card||X||1.5%||$0||X||$200 for spending $3,000|
|PNC points® Visa® Business Credit Card||X||Optional||$0||5 points per $1 spent||Link personal PNC points card|
|PNC Travel Rewards Visa® Business Credit Card||X||X||$0||1 mile per $1 spent||Double miles on first $2,500 spent|
|PNC Visa® Business Credit Card||13 months||X||$0||X||X|
|PNC BusinessOptions® Visa Signature® Credit Card||X||Optional||Up to $500||Optional||$750 for spending $25,000|
Who is the PNC Cash Rewards Visa Signature Credit Card for?
The PNC Bank Cash Rewards card is one of the most popular options. No doubt, 1.5% cashback on spending is enticing for many business owners. Plus, if you spend $3,000 within the initial promotional period, you’ll receive an additional $200. So, if you’re in the market for a card that pays you to use it, this is the one.
Do PNC Cash Rewards Expire?
According to PNC’s cash rewards terms and conditions, your cash rewards will not expire as long as your account is open. However, as soon as you close your account, you forfeit any unused rewards.
Who is the PNC Points Visa Business Credit Card for?
The PNC Bank PNC Points card is similar to the cash rewards card, except you’ll earn five “points” on every dollar spent. Points are redeemable for cash, electronics, gift cards, merchandise, and travel. And, if you have a personal PNC points card, you can link the two for more rewards.
How Much are PNC Points Worth?
When weighing the points card as an option, you need to understand how points are redeemable. There are three sections in the PNC points rewards catalog:
- Gift Cards
- Apple Store & Other Merchandise
You can directly book flights, hotels, cars, and other travel rewards, purchase gift cards and merchandise from the catalog.
For an idea of what you can get for your points, a Nintendo Switch is redeemable for 123,053 points (or after $24,610.60 in spending). And, the same amount might get you a flight from Portland, Oregon to Denver Colorado.
Do PNC Points Expire?
Unfortunately, yes, PNC points do expire. You have 48 months (about four years) from the time points are posted to your account to use them. So, you’ll need to monitor your points account to see how many are available at a given time.
Who is the PNC Travel Rewards Visa Business Credit Card for?
The PNC Bank Travel Rewards card is perfect for travelers. You can earn one mile for every $1 spent and two miles on the first $2,500 in eligible purchases. Or, you can book your own travel and redeem your miles for a statement credit. If this sounds enticing, the travel rewards card might be right for you.
Do PNC Travel Rewards Expire?
According to PNC’s travel rewards terms and conditions, miles expire in December of the fourth calendar year after the miles were earned. So, like points, you have about four years to use miles.
Who is the PNC Visa Business Credit Card for?
The PNC Bank Business Credit Card is a good starter card for small and medium-sized businesses looking to build credit. The 0% introductory rate for the first 13 billing cycles provides an incentive for companies who are looking to increase their short term and long term working capital or are ready to separate their business and personal spending.
|Related Reading: Fund&Grow Facts: An Honest Business Funding Services Review Overview of a paid financial service that helps companies establish multiple 0% APR lines of credit to grow their business.|
Who is the PNC BusinessOptions Visa Signature Credit Card for?
The PNC Bank BusinessOptions Visa Signature card is a better card for higher spending ($50,000 or more annually). While there is a maximum annual fee after the first year, you can avoid it by using your card for $100,000 or more in purchases each year. Plus, you can earn $750 statement credit by spending $25,000 on your card in the first three months.
The best feature of the BusinessOptions card might be the fact that you can choose cash, points, or travel rewards.
This card also has revolving and pay-in-full options for the most flexibility.
|Still not sure which card is right for you?: Find the right PNC credit card for your business.|
Commonalities With PNC Credit Cards
While PNC business credit cards vary and one or another might be better suited to your situations, there are some commonalities that they all share.
What Credit Score is Needed for a PNC Credit Card?
After reviewing the cards above, you may have an ideal card in mind. But, if your credit score is low, you may not be able to qualify yet. According to several cardholders in the MyFICO forum, those with lower credit scores (below 700) will have a difficult time getting a PNC credit card.
So, if you don’t have established business credit, you might have better luck starting with net 30 vendors to boost your score before you graduate to revolving credit options like those offered through PNC.
Are On-Time Payments on PNC Business Credit Cards Reported to Personal Credit Bureaus?
While your personal credit score may impact your ability to qualify for a business credit card, your payments will be reported to Dun & Bradstreet. Your Paydex score, as well as your Experian Business and Equifax Business credit scores, will be affected by on-time payments.
How to Increase Your Credit Limit on a PNC Credit Card?
As with all credit cards, the best way to increase your limit is to pay as agreed and keep your income updated in your account. You can learn more about this and some valuable hacks with a Business Credit Workshop membership.
Your PNC business credit card limit is a reflection of your standing with PNC and your credit profile. For convenience, you can request a credit limit increase online from inside your account.
Other Business Financial Services From PNC Bank
When selecting a credit card to use for business purchases, it’s helpful to know what else the issuer can offer your business. PNC Bank has a full suite of financial services for companies like yours. Most notable are the business checking, lines of credit, and term loans.
- PNC Small Business Checking – Choose from four tiers of business checking options based on your needs and leverage additional solutions as needed.
- PNC Business Lines of Credit – Based on your location, PNC Bank’s services can vary, but the portfolio lender offers business lines of credit other than credit cards. The amount you receive will be based on your credit profile.
- PNC Business Term Loans – When you need a specific amount of funding to cover a business purchase like new equipment or real estate, PNC can help.
If you’re in the market for a business credit card, you don’t need to ask if you should get a card from PNC Bank. Rather, the right questions to ask yourself are:
- Will I qualify for a business credit card through PNC?
- Which card is right for me?
For cashback, choose the cash rewards Visa Signature card. To build points and redeem for gifts, select the points card. If you want to earn travel miles, apply for the travel rewards card. If you need a simple working capital boost, go for the PNC Visa business card.
And, if you need a full-featured card for high spend within your company, try to leverage the BusinessOptions Visa Signature card. And, if you’re interested in learning new ways to acquire more business credit and boost your business credit score, learn how to obtain business credit in 30 days.