BBVA will stop issuing new credit cards in mid-June, according to a new report from Doctor of Credit. The news marks the latest step in the transition of BBVA properties into PNC, the bank that purchased BBVA for $11 billion late last year. Here is the latest news on when BBVA will stop taking new credit card applications:
BBVA to No Longer Accept New Applicants After Mid-June 2021
A new report from Doctor of Credit states that June 15, 2021, will be the final day to apply for a new BBVA credit card. According to a BBVA representative, the bank will not accept new applicants on (or after) June 16, 2021. The report also indicates that new BBVA credit card applications must be made either over the phone or in-branch for Alabama, Florida, Texas, Arizona, Colorado, California, and New Mexico.
PNC Converting All BBVA Accounts in October
PNC Bank, the seventh-largest consumer bank in the United States, agreed to purchase BBVA USA for $11 billion in November 2020. The purchase will see PNC take over the U.S. holdings of Spanish multinational Banco Bilbao Vizcaya Argentaria, with over $100 billion in total accounts and more than 600 branches in the seven states it services.
The switch from BBVA to PNC has already begun. Existing BBVA deposit account holders will see their accounts switch to PNC deposit accounts in October of 2021. All other BBVA products, including credit cards, are also expected to switch to PNC credit cards during the October 2021 transition.
The only exception to product changes is with BBVA mortgage applicants, who must complete (or close) their applications before September 2021. For more information on the BBVA/PNC product conversion process, please visit PNC’s dedicated FAQ page.
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