New card incentivizes good financial practice via a suite of competitive features
PNC Bank announced the launch of its latest credit card, PNC Spend Wise Visa, designed to reward clients’ responsible and healthy financial habits. This unique credit card is built to encourage responsible financial management through its associated purchase APR reduction program for eligible cardholders who meet timely payment and spend requirements.
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“Through extensive research and direct client feedback, we identified a gap in the market: while many credit cards incentivize spending, few actively promote and recognize responsible debt management,” said Nate Bacon, head of Credit Cards at PNC Bank. “PNC Spend Wise addresses this void, as it’s built on the principle that financial responsibility should be rewarded just as much as spending. It’s a fresh take on credit cards.”
Key features and benefits include:
- Purchase APR Reduction Program: Cardholders can earn a 2-percentage point reduction to their purchase APR when they pay on time and have at least $3,000 in net purchases post to their account over 12 billing cycles1;
- $25 in annual digital subscription credits: PNC Spend Wise provides up to $25 in annual subscription service credits for Spotify, Netflix and/or Disney+;
- Comprehensive purchase safeguards:
- Price Protection2: Cardholders can be reimbursed the difference in price up to $1,000 for an eligible item they purchased with their covered PNC Spend Wise credit card if the same item is advertised for less within 60 days of purchase;
- Porch Piracy Protection2: Cardholders can be reimbursed up to $10,000 per claim if an eligible item they purchased with their covered PNC Spend Wise credit card is stolen within 90 days of purchase;
- Cellular Telephone Protection2: Cardholders can be reimbursed up to $800 if their cell phone is damaged or stolen;
- Zero liability fraud protection: Cardholders are not responsible for unauthorized purchases if their card or card number is lost or stolen;
- Low introductory APR offer: The card offers our lowest introductory APRs on purchases and balance transfers;
- No annual fee3: Cardholders get access to all these benefits with no annual fee.
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“PNC Spend Wise reflects PNC’s commitment to designing products that meet our clients’ needs and help them to build healthier financial habits, while maximizing their financial rewards,” said Jeff Hofmann, head of Retail Lending at PNC Bank. “Our clients prioritize benefits and savings and PNC Spend Wise has been designed to give them both by turning wise money habits into tangible rewards.”
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Last year, PNC introduced PNC Cash Unlimited Visa Signature, a credit card that provides 2% cash back on all eligible purchases. The success and positive response to the PNC Cash Unlimited credit card confirmed that clients value straightforward, meaningful rewards. PNC Spend Wise builds upon this philosophy by offering a simple and consistent way to reward responsible financial habits.
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Source: PR newswire
