PNC CashBuilder Visa Credit Card: Flat 1.75% Cash Back Possible

Today PNC announced a new line of checking accounts and credit cards with cash back and rewards that increase based on the customer’s banking relationship. The new credit cards include the PNC CashBuilder Visa, PNC Points Visa and PNC Flex Visa.

For cashback fans, the PNC CashBuilder Visa is of particular interest. It earns a flat 1.25% cash back on all net purchases and a 1.75% rebate during the first billing cycle.

After the intro period is over, however, there are ways to boost the 1.25% rebate. You can either earn more based on either your spending in a billing cycle or the extent of your banking relationship with PNC.

If you spend between $2,000 and $4,000 in a billing cycle, you’ll earn a 1.5% rebate in your next billing cycle. If you spend over $4,000 in a billing cycle, your purchases in the next billing cycle will earn rewards of 1.75%.

Alternatively, you can boost your earnings with qualifying performance deposit accounts with PNC. If you have a “Qualifying Performance Deposit Account” on the last day of a billing cycle, you’ll earn 1.5% cash back on your purchases in the next billing cycle. A “Qualifying Select Deposit Account” will earn 1.75% on the purchases in your next billing cycle.

PNC defines these accounts like this:

A Qualifying Performance Deposit Account is a PNC Bank Performance Checking Account or the Spend and/or Reserve components of PNC Bank Virtual Wallet Performance in which you maintain (1) an average monthly balance of $1,500 or more in any one such deposit account or (2) a total average monthly balance of $10,000 or more in such deposit account and any linked consumer checking, savings, money market, line of credit, auto or home equity installment loan, mortgage loan or investment accounts for which you are a signer (other than as an agent). If the CashBuilder Account is in the name of more than one individual, all such individuals must be owners of the PNC Bank Performance Checking Account.

A Qualifying Performance Select Deposit Account is a PNC Bank Performance Select Checking Account in which you maintain (1) an average monthly balance of $5,000 or more in such deposit account or (2) a total average monthly balance of $25,000 or more in such deposit account and any linked consumer checking, savings, money market, or investment accounts for which you are a signer (other than as an agent). If the CashBuilder Account is in the name of more than one individual, all such individuals must be owners of the PNC Bank Performance Select Checking Account.

As a special introductory offer, these minimum balance requirements are being waived for new cardmembers who open an account by May 31, 2011. As long as you have a PNC Performance Select checking account, you’ll earn 1.75% cash back for the 2nd through 4th billing cycles. If you have a PNC Performance checking account, you’ll earn 1.5% cash back during this period.

Your cash back rewards can be redeemed once you’ve earned at least $50 and can be credited to your checking, savings or CashBuilder account. The card does not carry an annual fee.

Obviously there are strings attached, but if you already have an extensive banking relationship with PNC, 1.75% is an excellent untiered cash back rebate for a Visa, as it exceeds even the 1.5% offered by Fidelity’s Visa product.

For more information, or to apply for the credit card, see this link.

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