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PNC Visa – Good For Balance Transfers

The PNC Select Rewards Visa® Platinum credit card gives you plenty of reasons to use it and almost no reason not to.

Offered by PNC Bank headquartered in Pittsburgh, this card is loaded with value. There’s no annual fee like many banks have added recently. Some charge $39, $49 or more. And the 0.99% introductory APR on balance transfers is good through May 31, 2010.

pnc bank visa card

This allows you to pay down your balance, with less than 1% going toward interest.

Some cards offer 0% financing on transfers for six months while others give you “up to” 12 months, based on your credit history and score. But PNC’s 0.99% APR is valid for almost 11 months unless your account becomes delinquent or over the limit.

PNC has also held its transfer fee at 3% of the balance, or a $5 minimum. Some cards now charge 3.5% and even 4% per transfer.

The downside to this card is that it doesn’t offer 0.99% APR on purchases during the introductory period. But if you’re serious about paying off your transfer before the low rate expires, you probably won’t want to make additional purchases. They would be paid in full before money is applied to the transfer balance, which is how all credit cards operate.

Once your card is clean and clear of debt, you can’t overlook the low purchase APR, which is prime (3.25%) plus 3.99%. That’s 7.24% — lower than you’ll see on most cards. Based on your credit, it could be as high as prime plus 14.99% or 18.24%, depending on creditworthiness.

In addition, if you pay off your transferred balance on time every month, your credit score will improve as long as nothing else in your financial life changes.

This card has a rewards program that earns one point for every $1 net purchase made, and you can redeem your points at a 1,500 level. Rewards choices include cash, travel, merchandise and gift cards.

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