PNC Bank Debuts 2% Cash Back Credit Card

Jae Bratton
By Jae Bratton 
Edited by Kenley Young

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The newest addition to PNC Bank’s credit card portfolio may already be the best of the bunch.

Launched on May 7, 2024, the PNC Cash Unlimited Visa Signature Credit Card has no annual fee and earns an unlimited 2% cash back on all eligible purchases. Other highlights include cell phone insurance, a 0% intro APR, and no foreign transaction fees. That combination of perks in a $0-annual-fee card makes the PNC Cash Unlimited card one of the best credit cards that earn 2% on all purchases.

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Note that you must be a member of PNC Bank to apply for any PNC Bank-issued card.

Rewards earned with the PNC Cash Unlimited card never expire and may be redeemed for:

  • Direct deposit into an eligible PNC Bank consumer checking or savings account or a PNC investment account.  

  • Statement credit to the PNC Cash Unlimited card account.

  • Gift cards.

  • Travel booked through PNC’s Travel Catalog. 

There’s no minimum redemption amount required to redeem for a direct deposit or statement credit, but cardholders must have at least 5,000 points to book travel. One point is worth 1 cent, the industry standard, when redeemed for direct deposit, statement credit and travel. Point values vary for gift card redemptions.

The cell phone insurance offered by the PNC Cash Unlimited is highly competitive with other cards in its class. As long as you use your PNC card to pay your cell phone bill, you can receive up to $800 worth of coverage per claim. (Two claims are allowed every 12 months.) For comparison, another 2% rewards credit card, the Wells Fargo Active Cash® Card, pays out up to $600 per claim.

If the PNC Cash Unlimited card has a weakness, it’s the lack of a sign-up bonus in which new cardholders can get a huge chunk of rewards by spending a certain amount within a specified time frame. However, new cardholders do get an introductory 0% APR for 12 months on purchases and on balance transfers made within 90 days of account opening. For those looking for a break on interest charges, that feature can be a true money saver.

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