PNC Bank Debuts 2% Cash Back Credit Card

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Written by Jae Bratton
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UPDATE July 2, 2024: This article was originally published on May 10, 2024, and has been updated to reflect the latest features of the card.

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 a sign-up bonus, cell phone insurance, 0% intro APR on balance transfers 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.

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

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A 2% flat-rate is best in class and puts the PNC Cash Unlimited in direct competition with standout cards like the Wells Fargo Active Cash® Card. Rewards earned with the 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 Cash Unlimited's sign-up bonus is better than most credit cards with no annual fee. New cardholders can get a $250 bonus after spending $1,000 within the first three months of account opening.

The card's cell phone insurance is another competitive feature compared to 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, the Wells Fargo Active Cash® Card pays out up to $600 per claim.

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