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Verdict: The PNC Everyday Rewards Visa Credit Card has a lot going for it: It has a generous and flexible cash-back program, low purchase interest rate, introductory offer of 0 percent interest and no annual fee. But if you charge a lot every month, you might find yourself losing out on some potential cash-back rewards checks. That’s because this card puts monthly limits on the amount of cash-back bonuses it will pay you no matter how much you charge.

Overview: Like many rewards cards, the PNC Everyday Rewards Visa uses a multi-tiered rewards system, meaning that you’ll earn more cash back for certain purchases and less for others. The card also comes with an introductory interest rate of 0 percent for nine billing cycles.

How This Card Works: Every time you earn at least $100 in cash-back points, you’ll receive a check for that amount with your next statement. You’ll need to read the fine print with this card, though; it has a different cash-back rate for the many different types of items you’ll charge to your card.

Travel and Shopping Benefits: Every time you charge gas on your PNC Everyday Rewards card, you’ll receive a cash-back bonus of 4 percent of each purchase. But you are limited: The card will only award this bonus on the first $250 you charge for gas purchases every month. For cinema or movie-rental charges, you’ll receive a cash-back bonus of 3 percent. Again, though, there is a limit: You will only receive this bonus for the first $150 you spend each month.

Grocery, restaurant and fast-food charges, or at least the first $750 of them each month, bring a cash-back bonus of 2 percent. All other purchases are eligible for a cash-back bonus of up to $1. There are no monthly limits on these charges. However, there is fine print: You’ll only receive a cash-back bonus of one-quarter percent for the first $10,000 in other charges that you make in a year. After reaching that threshold, you’ll then receive your 1 percent cash-back bonus.

Fees: After the card’s introductory interest-rate offer expires, you’ll be left with a purchase interest rate of 11.99 percent to 19.99 percent, depending on your credit score. There is no annual fee with this card. Other fees are standard: Cash advances cost $10 or 4 percent of the advance amount, whichever is higher. Late and returned-payment fees both can run up to $35.

Pros

• Generous and multi-tiered rewards program.
• No annual fee.
• Low interest rate depending on credit score.

Cons

• Monthly limits on how much of a cash-back bonus you can earn.
• Penalty interest rate is a sky-high 28.99 percent.
• Late and returned-payment fees of up to $35.

About This CreditShout Author Dan Rafter has contributed to such publications as the Washington Post, Chicago Tribune and BusinessWeek Online. He’s also a frequent blogger on credit and financial issues.

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