Cancellation of National City Secured Cards due to Acquisition by PNC

[seattlecredit]

Has anyone heard if PNC will be canceling secured cards issued by National City? (PNC is acquiring National City)

 

I had this happen before with my secured WAMU card. When Chase bought WAMU, they cancelled all secured cards and sent a check to everyone for their deposits.

 

I am concerned that the same will happen with PNC. Any insights?

 

Thanks.

[encoder]

It (obv) hasn't happened yet so I feel pretty good about it. PNC bought Nat'l City before Chase bought Wamu I believe, so that's a good sign.

 

Anything could happen, though. I do wonder how big PNC's CC biz is... Chases' is huge... if PNC's isn't any bigger than National City's i wonder if they'll not try to "assimilate" it.

[toopooor]

It (obv) hasn't happened yet so I feel pretty good about it. PNC bought Nat'l City before Chase bought Wamu I believe, so that's a good sign.

 

Anything could happen, though. I do wonder how big PNC's CC biz is... Chases' is huge... if PNC's isn't any bigger than National City's i wonder if they'll not try to "assimilate" it.

they are just beginning to merge services - NCB investment accounts recently merged into PNC (I think the opt out was early oct). Checking accounts are still NCB. Heck, the signs on most banks still say NCB. (I think the headquarters in downtown cleveland does say PNC - but the branches i use do not.)

 

My guess is that CC will be changed later and they may be waiting to see how they do as the economy improves before making the decision to close. If they secured cards are profitable, they should keep them.

[higher180]

I hope PNC keeps a lot of NC's credit products as well as offers new ones

[IndyPoolPlayer]

Here, the signs still read Nat City, but on the posters and glossy brochures there is a "We're Part of PNC" underneath the Nat City logo.

[w12345]

It is true: NC has clipped their secured CC product. I found out a couple months ago when visiting a branch on an unrelated matter. As it is procedure, I imagine, the rep. asked which NC product/s I had... and I told her: NC secured; NC Lifespring.

 

In a surprise move, she asked (rudely) : "why do you need a secured card?" "We don't even offer secured CCs anymore!"

 

Again, this was 2months ago. @ least.

They'll "officially" announce it soon...

[hjm331]

It is true: NC has clipped their secured CC product. I found out a couple months ago when visiting a branch on an unrelated matter. As it is procedure, I imagine, the rep. asked which NC product/s I had... and I told her: NC secured; NC Lifespring.

 

In a surprise move, she asked (rudely) : "why do you need a secured card?" "We don't even offer secured CCs anymore!"

 

Again, this was 2months ago. @ least.

They'll "officially" announce it soon...

 

Their decision to stop accepting new applications for the secured card does not necessarily mean that they will close the secured accounts.

[choirlady]

OH I hope not, becuase I'm saving up to open a secured card with National City!

 

Has anyone heard if PNC will be canceling secured cards issued by National City? (PNC is acquiring National City)

 

I had this happen before with my secured WAMU card. When Chase bought WAMU, they cancelled all secured cards and sent a check to everyone for their deposits.

 

I am concerned that the same will happen with PNC. Any insights?

 

Thanks.

[w12345]

It is true: NC has clipped their secured CC product. I found out a couple months ago when visiting a branch on an unrelated matter. As it is procedure, I imagine, the rep. asked which NC product/s I had... and I told her: NC secured; NC Lifespring.

 

In a surprise move, she asked (rudely) : "why do you need a secured card?" "We don't even offer secured CCs anymore!"

 

Again, this was 2months ago. @ least.

They'll "officially" announce it soon...

 

Their decision to stop accepting new applications for the secured card does not necessarily mean that they will close the secured accounts.

I couldn't say if they've even gone that far...

According to her, they're "not offering secured CCs anymore..." ...whatever that means.

And, being that I'm easily @ 95%+ util. on my secured CC, I, for one, sincerely doubt that they'd send me my deposit back anytime soon.

[GEORGE]

It is true: NC has clipped their secured CC product. I found out a couple months ago when visiting a branch on an unrelated matter. As it is procedure, I imagine, the rep. asked which NC product/s I had... and I told her: NC secured; NC Lifespring.

 

In a surprise move, she asked (rudely) : "why do you need a secured card?" "We don't even offer secured CCs anymore!"

 

Again, this was 2months ago. @ least.

They'll "officially" announce it soon...

"WHY ARE YOU ASKING???"

[higher180]

NC 's secured card never upgraded and they are not BK friendly so I'm not at all hurt that hey are discontinuing the card.

[seattlecredit]

One reason why I would hate to lose my National City secured card is because when they report it to CRAs, there is NO notation "Secured." Many other secured cards put a comment "Secured." This has no impact on your FICO score but may play a role if your credit file goes through a manual review.

 

Also, with this card, my current utilization for all of my revolving debt is at 15%. If I lose it, my utilization will jump to something like 40%.

 

Any other inside info on whether PNC/National City will cancel their secured cards?

 

Also, any other prime cards (secured) that one would recommend? I already have US Bank secured card, and I was declined for BofA secured card two years ago and I don't feel like applying again. I am trying to stay away from subprime banks (e.g. Orchard). I have too many checking accounts already to join a CU. I know Citi has a good one but I have heard people get declined if they have unpaid COs. My FICO scores are not bad (mid 600s) but I am still fighting several COs.

[w12345]

It is true: NC has clipped their secured CC product. I found out a couple months ago when visiting a branch on an unrelated matter. As it is procedure, I imagine, the rep. asked which NC product/s I had... and I told her: NC secured; NC Lifespring.

 

In a surprise move, she asked (rudely) : "why do you need a secured card?" "We don't even offer secured CCs anymore!"

 

Again, this was 2months ago. @ least.

They'll "officially" announce it soon...

"WHY ARE YOU ASKING???"

 

 

+1

 

Seriously w1234, what's her problem? What a mouse.

 

I totally agree...

Her WTH's wrong with you (me) facial expression didn't make it any better, either.

Edited October 30, 2009 by w12345

[seattlecredit]

ttt

 

So is it looking more and more like PNC/National City will soon renig on their secured cards? Any other information?

 

It's been a perfect card for boosting scores and making credit file look stronger in the event of a manual credit review (it does not report as Secured).... Would hate to lose it...

 

Thanks!

[encoder]

ttt

 

So is it looking more and more like PNC/National City will soon renig on their secured cards? Any other information?

 

It's been a perfect card for boosting scores and making credit file look stronger in the event of a manual credit review (it does not report as Secured).... Would hate to lose it...

 

Thanks!

 

Hold on... the OP was asking a question, not making a statement. And the only "corroboration" here is that Chase apparently did so w/ WaMu secured cards, and somebody else mentioned that a personal banker was rude and also said that they weren't accepting applications for new secured cards. As far as I know, there's been no confirmation that they aren't accepting apps anymore, and certainly no confirmation that they are going to close existing cards.

 

On a side note, I have been planning on increasing my security deposit by $500 so I'll give them a call today or monday to do so and I'll post here with any info I can squeeze out of them

 

Shane

[encoder]

Here's an update:

 

I just called National City Card Services to get the address I Should send my add'l security deposit to.

 

She gave me the address ( I'll include it below for the benefit of those using the search feature later down the line). I also said "I know you probably won't be able to answer this, but I've heard rumors that PNC is going to discontinue the Secured product"

 

She said "let me check my sheet" and after a moment she said "It looks like PNC has a secured card themselves, and if your account changes at all it'll just change to a card that says PNC instead of National City"

 

The address for mailing additional security is:

 

National City Card Services

Credit Underwriting

PO BOX 182019

Columbus, OH 43272

[choirlady]

^^Thanks for the info! I hope this PNC is a good bank, because I really liked National City, been with them for over 10 years and they've been an excellent bank!!

[LiqueXX]

NC is still taking apps for the secured CC.

 

I just sent mine in a couple of weeks ago, got it back because they couldn't verfiy my address, resent the info with a copy of a utility bill. I talked to a rep on the phone and I went into a branch to drop the app off the first time, no one said anything about the secured card being unavailable.

[w12345]

NC/PNC may've put the kibosh on the idea of a blanketed/national product cancellation...

It could be a geographical initiative.

 

Getting mixed data... from the horse's mouth.

Go figure.

[boobie]

Here's an update:

 

I just called National City Card Services to get the address I Should send my add'l security deposit to.

 

She gave me the address ( I'll include it below for the benefit of those using the search feature later down the line). I also said "I know you probably won't be able to answer this, but I've heard rumors that PNC is going to discontinue the Secured product"

 

She said "let me check my sheet" and after a moment she said "It looks like PNC has a secured card themselves, and if your account changes at all it'll just change to a card that says PNC instead of National City"

 

The address for mailing additional security is:

 

National City Card Services

Credit Underwriting

PO BOX 182019

Columbus, OH 43272

 

 

PNC has a secured card??!! I've never heard of that...they are SO conservative. I'd love one though, been banking with them for over 10 years...

[ruafraidofme]

makes me a little happy that I might be able to keep my card.

[Tornado]

Does anyone know if they accept applications from California? I remember awhile ago they started get strict about their "service area".

[ruafraidofme]

Just logged into my national city secured account. It is now showing a credit limit of 0. I do not have the card with me at the moment. Does anyone else see this?

[encoder]

Just logged into my national city secured account. It is now showing a credit limit of 0. I do not have the card with me at the moment. Does anyone else see this?

 

Aw man, you scared me!

 

I just checked mine, it's fine. And I just mailed an additional $750 off 2 days ago.

 

I'd not have done so had I detected any hesitation with the CSR I spoke to. She just seemed informed. The whole "hold on, let me check my sheet" gave me a good feeling. Maybe it's unfounded. I guess all we can do is see.

[ruafraidofme]

Called the bank. They said my card expired and was not renewed. I will receive a letter in 7-10 days. Also mu security deposit will be refunded in the next 60 days.