The PNC Financial Services Group, Inc.
) recently launched two new credit cards with special travel
benefits. The particular credit cards - PNC Premier Traveler
& PNC Premier Traveler Reserve - were made available in the
market from Aug 19.
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PNC Premier Traveler comes with an annual fee of $95 and entitles
customers to a mile for every dollar spent, one discounted
companion airline ticket every year, and bonus miles. PNC Premier
Traveler Reserve comes with an annual fee of $395 and rewards its
holders with two miles per dollar spent, two discounted companion
airline tickets every year, $200 in airline incidentals
reimbursement each year, and an anniversary bonus of 15,000 miles
with $50,000 in annual qualifying purchases.
Further, these Visa Signature credit cards offer additional
benefits like zero international transaction fees, concierge
support for various travel issues and monthly bonuses. PNC
Financial's recent launches will enhance its card services and
cater to a wider variety of client requirements.
Notably, after the Durbin Amendment rationalized the debit card
interchange fees, issuing credit cards has become a lucrative
option for banks such as PNC Financial to boost their interest
and non-interest income. In the recent past,
Bank of America Corporation
) also launched credits cards with various exclusive benefits,
making them an attractive choice for customers.
Although the new credit cards will help in increasing PNC
Financial's market share, it has to face stiff competition in the
constantly expanding travel credit card market.
Currently, PNC Financial carries a Zacks Rank #2 (Buy). Other
banks worth considering include
) with a Zacks Rank #1 (Strong Buy) and
) with a Zacks Rank #2.