5 Things to Know About the PNC Cash Rewards Credit Card

The $0-annual-fee PNC Cash Rewards Visa offers a generous welcome bonus, solid cash-back rewards in the most popular everyday spending categories, plus a balance transfer offer for those looking to get out of debt.

And despite PNC Bank's relatively limited footprint compared with larger issuers, the card is available in all states for those who qualify. You also don’t need to have a PNC Bank account to get it (although if you're not already a PNC customer, you'll need to apply in a physical PNC bank branch).

Overall, that makes it a worthy contender for your purchases, although other rewards credit cards may offer slightly more value depending on your goals and spending habits.

Here’s what to know about the PNC Cash Rewards Visa.

» MORE: What is PNC Bank, and are its credit cards right for you?

1. There's a solid welcome offer

As of this writing, the PNC Cash Rewards Visa was offering new applicants $200 after making $1,000 or more in purchases during the first three months of opening the account. That's a valuable bonus, equal to or better than many other no-annual-fee cash-back credit cards.

Introductory welcome bonuses constantly change, however, so review the card’s terms closely before applying.

» MORE: NerdWallet's best cash-back credit cards

2. It earns bonus rewards in 'the big 3' household categories

It's not easy to find a credit card that offers elevated rewards on gas, dining and grocery store purchases — and that makes the PNC Cash Rewards card potentially valuable. It earns 4% cash back on gas station purchases, 3% back at restaurants, and 2% back on grocery store purchases on the first $8,000 you spend annually in those categories (combined). All other purchases earn 1% back.

You can redeem those rewards for statement credit or as a deposit into an eligible PNC account, and they don’t expire as long as the account remains open and active. So if you're looking for a one-credit-card workhorse, the PNC Cash Rewards card could be your steed indeed.

Still, a combined spending cap across multiple categories does require some tracking, and it limits the amount of bonus rewards you can earn in a year. If you'd like something similar but simpler, consider the $0-annual-fee Capital One Savor Cash Rewards Credit Card (rates and fees). It earns 3% cash back at grocery stores (excluding superstores like Walmart and Target), as well as 3% back on dining, entertainment and popular streaming services. All other purchases earn 1% back, but there's no spending cap to watch out for in those 3% bonus categories. It also has a welcome offer for those who qualify: Earn a one-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening.

Alternately, the $0-annual-fee Wells Fargo Autograph® Card earns 3 points per $1 spent on restaurants, travel, gas stations, transit, popular streaming services and phone plans. All other purchases earn 1 point per $1 spent, but again, there's no spending cap for its bonus categories. This card, too, has a welcome offer: Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value.

» MORE: NerdWallet's best credit cards for restaurants

3. The balance transfer can accelerate paying off debt

As of this writing, new holders of the PNC Cash Rewards Visa could qualify for a 0% introductory APR for 15 months on balances transferred within the first 90 days from account opening. (After 15 months, a variable APR applies.) For balances transferred in the first 90 days following account opening, a 4% balance transfer fee applies. (After that, it rises to 5% of the amount transferred.)

That's a pretty solid offer, but you can find longer interest-free windows and lower balance transfer fees. The Citi Double Cash® Card, for one, features a 0% intro APR on balance transfers for 18 months, and then the ongoing APR of 18.24%-28.24% Variable APR. It has an introductory balance transfer fee: You'll pay either $5 or 3%, whichever is greater, of the amount of each transfer made within the first four months of opening the account. After that, it’s $5 or 5%, whichever is greater.

» MORE: See NerdWallet’s best balance transfer credit cards

4. There's a preapproval process

You can see whether you’re preapproved for the PNC Cash Rewards without any initial impact on your credit scores. (Once you accept the offer and officially apply, however, your credit scores can temporarily decrease, as is usual when a credit card issuer runs a hard inquiry.)

You need to be eligible for a minimum credit line of $500 to qualify. To determine eligibility, various factors are considered, such as credit history, income and any existing relationship with PNC Bank, according to the card’s website.

» MORE: Credit cards that offer preapproval or pre-qualification without a hard pull

5. Carrying a balance on the card will be expensive

As is typical for rewards credit cards, the APR tends to run high. As of this writing, the card charges anywhere from 19.24% to 29.24% on purchases, based on your creditworthiness. It’s not ideal to carry a balance on this credit card, and if you do, you'll almost certainly pay far more in interest than you can earn in rewards.