The PNC BusinessOptions Visa Signature Credit Card has an offer for $750 bonus cash when you spend $25,000 within the first three billing cycles. Although that seems like a very generous bonus, you’ll need to spend quite a bit to qualify. The Business Platinum Card from American Express has a bonus offer with comparable spending requirements. See our list for more business credit card offers.
As the name implies, BusinessOptions gives companies – you guessed it – plenty of options. First, choose whether you want to pay in full every month (charge card) or have revolving credit (traditional credit card). Next, pick a rewards program: cash back, points or miles.
The annual cost of the card depends on how much you use it. Geared towards heavy spenders, companies that charge more than $100,000 every year don’t have to pay an annual fee.
Intrigued? Keep reading for a deeper look into this very unique business rewards card.
*Check out PNC Bank bonuses for Checking & Savings accounts.
BusinessOptions Card $750 Bonus Cash Offer
Take advantage of the BusinessOptions card’s big introductory offer: a $750 statement credit. To qualify, charge at least $25,000 in purchases within the first three billing cycles after opening your account. That comes out to around $8,333 each billing cycle.
This sign-up bonus is available to new cardmembers who apply by December 31, 2019.
Here are some ideas on meeting the spending requirement.
BusinessOptions Card Choose Charge or Credit
BusinessOptions is available as a charge card or a credit card. As a charge card, you’re required to pay the monthly balance in full by the due date. If not, you run the risk of account closure. You might choose this option to avoid the temptation of overspending and carrying a balance.
As a traditional credit card, BusinessOptions will let you pay your balance over time. Any amount that hasn’t been settled by the statement due date will accrue interest. It’s the better option if you want to finance large purchases.
Your BusinessOptions spending limit is based on your income and creditworthiness. The credit card version can range up to $50,000, while charge card limits can go as high as $250,000.
BusinessOptions Card Choose Your Rewards
BusinessOptions lets you choose a rewards program out of three options: cash rebates, PNC points or travel rewards. Most other business cards only offer one rewards program with no capacity to customize.
Within the BusinessOptions card’s cash back program, there are two different structures: charge card or credit card. Charge cardmembers earn unlimited 1% cash back on all spending, while credit cardholders earn an unlimited 1.5% rate.
For both, rewards are automatically released as statement credit every quarter on your March, June, September and December statements.
While some prefer this easy and simple automatic redemption process, you might not want to wait every three months to receive your cash back. If that’s the case, consider a card like Ink Business Cash® Credit Card. It lets you redeem your rewards every month.
The BusinessOptions card’s points program offers an unlimited flat rate of 5 PNC points for every $1 spent on all purchases. These points can be used for cash back, travel, gift cards and merchandise.
But be forewarned, each PNC point is typically worth just $0.002 and can fluctuate depending on how you redeem them. For the best value, use them toward cash back and travel.
With the BusinessOptions card’s travel rewards program, you earn 1 PNC mile for every $1 spent. There are no caps or restrictions. You can use your accumulated miles for statement credits and PNC account deposits. The best use for your miles is toward statement credits for air travel, which will give each mile a $0.0126 value.
BusinessOptions Card Annual Fee
The BusinessOptions card’s annual fee ranges from $0 to $500 and varies according to your spending in the previous year. As such, the annual fee is waived for your first 12 months.
|Annual Spending||Annual Fee|
|$0 – $49,999.99||$500|
|$50,000 – $74,999.99||$250|
|$75,000 – $99,999.99||$125|
|More than $100,000||$0|
There’s no cost for additional employee cards, regardless of how many you need. In comparison, other business cards charge $50 to $100 a year for each employee cardholder.
BusinessOptions Card Availability
The BusinessOptions card is limited to within PNC’s network. That includes:
- District of Columbia
- New Jersey
- New York
- North Carolina
- South Carolina
- West Virginia
If your company operates elsewhere, you’ll need to consider other credit card options.
PNC BusinessOptions offers plenty of room for customization: its annual fee (to some degree) and type of credit and rewards. Whether or not that’s a good thing is complicated.
The varying annual fee is a great deal if you charge at least $100,000 in the previous year. Otherwise, low spenders will find that the card’s benefits won’t outweigh its cost.
As a charge card, BusinessOptions has a high $250,000 credit limit, but you need to make sure to pay your balance in full and on time. Your other card option has a much lower credit limit of $50,000.
And finally, none of the card’s rewards program offers a strikingly good deal. There are plenty of other cards on the market that give equal or better value with a simpler rewards structure at a low cost.
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