ShareThis Page
PNC will bring back credit cards to 2 million local clients |

PNC will bring back credit cards to 2 million local clients

Thomas Olson
| Tuesday, August 29, 2006 12:00 a.m

PNC Bank plans to roll out credit cards again after being out of the business for more than seven years, the bank said Monday.

The bank, however, will not issue the cards nationally, but only to its 2 million individual and small-business customers in Western Pennsylvania and seven other states, beginning Friday.

“If we went outside our (retail banking) footprint, it would be a terrible mistake because we’d lose focus on making banking easier and more convenient for our customers,” said Dan Tuccillo, PNC’s executive vice president of consumer products.

The move follows PNC’s announcement last week that, also on Friday, the bank would start refunding to customers the $1.50 or so ATM surcharges other banks levy for using their cash machines.

“We need to be top-of-wallet, regardless of whether it’s a debit card or credit card,” Tuccillo said.

The PNC Bank Select Rewards Visa Platinum card for individuals and PNC Bank Platinum Business Rewards MasterCard for small businesses will be offered with such features as zero annual interest for one year on purchases and balance transfers.

The bank will issue the credit cards and underwrite purchases made with them. But U.S. Bank, Minneapolis, the nation’s sixth-largest bank, will process those transactions and provide customer service.

PNC exited the volume-driven credit-card business in March 1999 when the bank sold its card accounts and receivables to MBNA Corp. Bank of America bought the MBNA portfolio last year.

Credit cards represent at least 30 percent of the transaction payments across the banking industry, Tuccillo said.

“That’s still a huge percentage of the volume out there.”

Additional Information:

Complete coverage

News | Sports
NFL Team-by-Team

var site=’PAGRE’var section=’BUSINESS’
    Top Business Stories

Categories: News
TribLIVE commenting policy

You are solely responsible for your comments and by using you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.