Last updated on February 23rd, 2023
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PNC BusinessOptions® Visa Signature® Credit Card
PNC BusinessOptions® Visa Signature® Credit Card
- 15.99% to 21.99% variable based on creditworthiness Regular Purchase APR
- 15.99% to 21.99% variable based on creditworthiness Balance Transfer APR
- 26.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The PNC BusinessOptions® Visa Signature® Credit Card is a powerful all-in-one card that offers flexibility based on how you wish to use it for your company.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Choose either a pay-in-full option or a revolving credit option to pay off your balance
- Choose between cash rebates, PNC points®, and travel rewards as your card's rewards program
- No foreign transaction fees
- No fees for additional employee cards, Add your company's logo to your card
- Regular Purchase APR: 15.99% to 21.99% variable based on creditworthiness
- Balance Transfer APR: 15.99% to 21.99% variable based on creditworthiness
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 26.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 4% of the amount of each cash advance, whichever is greater ($75 maximum)
- Penalty APR: 33.99% variable based on the Prime Rate
- Annual Fee: $0 to $500
- Late Payment Penalty Fee: Up to $49
- Return Payment Penalty Fee: $35
- Over Limit Penalty Fee: Up to $69
- You own or operate a small business
- You want 1.5% cash back on purchases through the revolving card account option
- You require a significant amount of spending to cover company expenses
- You want the flexibility to choose your line of credit type as well as the type of rewards program that will apply to your card
- You intend to have additional cards issued to employees
- You want a card with no foreign transaction fees
- You're looking for a centralized account management portal that gives you real-time control over how your card (and your employees’) is used
PNC BusinessOptions® Visa Signature® Credit Card Review
As its name implies, the PNC BusinessOptions® Visa Signature® Credit Card gives you plenty of choices. To start off, you can either choose between a traditional revolving credit line or a pay-in-full option reminiscent to that of a charge card.
The revolving credit option gives you a limit of up to $50,000, while the pay-in-full mode increases that number to a maximum of $250,000. If your business necessitates enterprise-level purchases, and your income allows you to pay those expenses in full every billing period, the pay-in-full option will suit you better. Otherwise, the revolving credit choice is what you’ll find in practically every other business credit card out there, and it still carries a generous spending limit.
Versatile Reward Options
Another unique feature in this card is the ability to choose a rewards program. Whereas some cards only earn miles for travel and others only accumulate cash back, the PNC BusinessOptions® Visa Signature® lets you select between cash back, miles, and PNC points®.
With cash back, you’ll earn up to 1.5% back from your shopping along with automatic rebates every quarter with no category restrictions. The PNC points® option accrues 5X points per $1 spent, and those points can be redeemed for merchandise, gift cards, travel booking, or statement credits.
In addition, if you request additional employee cards, you can amass your points in one pot or award a portion to specific individuals. Lastly, the travel rewards option earns 1X miles per $1 and is ideal if you constantly fly across cities or countries for business purposes. Plus, this last option does not charge fo reign transaction fees.
Online Business Tools
Regarding managing your account and its activity, PNC Bank provides a comprehensive suite of online tools to help you stay organized. You can activate or deactivate employee cards as well as set their spending limits in real time. Transaction history is available up to seven years back, and billing statements are stored for 13 months.
Plus, you can download transaction history to QuickBooks® or other similar applications. In addition, you can assign specific cost allocation fields to transactions so you can get a better insight of where your expenses are going overtime.
An Annual Fee Which Varies Significantly
Naturally, a credit card as multifaceted as this one will incur a cost to use. With the PNC BusinessOptions® Visa Signature®, however, that charge varies depending on the amount of spending you do annually. If your net purchases total less than $50,000, the card’s annual fee will be $500, which is no small figure.
However, as your spending increases, the annual fee decreases. If you spend more than $100,000 per year, the annual cost is reduced to $0. Note that in order to calculate your annual fee, PNC needs spending records from the previous 12 months, therefore you will not be charged during your first year as a cardholder.
Should You Apply for the PNC BusinessOptions® Visa Signature® Credit Card?
The PNC BusinessOptions® Visa Signature® Credit Card is an interesting proposition in that it provides companies with the choice of how much credit they really need. These varying credit limits, from $50,000 up to $250,000, come with very different annual fees. The former features no annual fee, while the latter charges a whopping $500 yearly charge. Either option, however, gives businesses the purchasing power they need and an enticing sign-up bonus of a $750 statement credit.