Yes, you have the opportunity to lower your purchase APR on your PNC Spend Wise credit card with our Purchase APR Reduction program.

You can earn a 2 percentage point reduction to your standard purchase APR if you meet the following requirements over a 12 billing cycle review period: (1) post at least $3,000 in net purchases (2) make at least your minimum payment due by each due date over the course of the review period.

We calculate each variable APR by adding a margin (interest percentage) to the value of an index. The index we use is the “Prime Rate” of interest appearing in the “Money Rates” section of The Wall Street Journal published on the 20th day of the month preceding the first day of each billing cycle or, if The Wall Street Journal is not published on such date, the next day on which such Prime Rate is published. This means that your standard purchase APR for a given billing cycle is calculated by adding your standard purchase margin to the Prime Rate then in effect. Any change to the prime rate will result in a corresponding change to your standard Purchase APR.

Yes. If you qualify for a purchase APR reduction, then your standard purchase APR will always reduce two percentage points lower than it would have been had you not qualified for the reduction (except when you’ve already reached the maximum reduction available). That said, occasionally when you qualify for a purchase APR Reduction at a time that coincides with a change to the Prime Rate, your standard purchase APR may not reduce by exactly 2 percentage points compared to the previous billing cycle. For the first billing cycle of the new review period, you may see a reduction to your purchase APR that is greater or less than 2 percentage points compared to the last billing cycle of the previous review period. While your margin will always reduce by 2 percentage points when you qualify for the Purchase APR Reduction, the change to the prime rate will affect the total reduction to your standard Purchase APR. See the “Diana” customer example on this page for an illustration.

No. Some transactions like cash advances and balance transfers do not count towards your $3,000 net purchases requirement. See the definition of "net purchases" within the Key Terms section on this page and your account agreement for additional information.

No. Your PNC Spend Wise credit card may come with an introductory APR for purchases or balance transfers. You also may be offered a promotional APR for certain categories of transactions after you open your account. The Purchase APR Reduction Program will not affect these promotional rates. Additionally, a reduction to your Purchase APR as a result of qualifying for the Purchase APR Reduction will not result in a reduction to any introductory or promotional APRs. 

You are not eligible for a Purchase APR Reduction if you fail to make at least the minimum payment due on time for any billing cycle during the review period or if you fail to post at least $3,000 in net purchases during the review period. Additionally, once your standard purchase margin is reduced to 8.74%, you will have achieved the lowest possible Purchase APR on your Spend Wise credit card and will therefore no longer be eligible for a Purchase APR Reduction. Furthermore, your account will not be eligible for a Purchase APR Reduction for a particular review period if your account was placed in a hardship program or other similar special program during the applicable review period.