The article addresses the issue of recycling of poly(ethylene terephtalate) (PET) by melt blending with polycarbonate (PC). PET/PC blends containing various amounts of the immiscible polymers were prepared in a twin-screw extruder. Selected compositions were also prepared in the presence of an Sn-based catalyst to assess the influence of transesterification during melt mixing. The degree of miscibility in the blends was studied using differential scanning calorimetry, scanning electron microscopy, and mechanical testing. PET/PC blends exhibit enhanced tensile properties in comparison to neat components for compositions of PET higher than 50% and these properties are improved by the addition of a transesterification catalyst. The PET/PC blend containing 20 wt% of PC, prepared with stannous octoate, shows the smallest size of the dispersed phase because of transesterification reactions that generate copolymer molecules at the interface between the immiscible polymers. The melting temperature of PET is decreased with the increase of the PC content in blends extruded in the presence of the catalyst. Also, the temperatures of the cold crystallization of PET are higher than those of similar blends without added catalyst. Both features give rise to better molding properties because of a shortening of the cooling time in the range of 50-90 wt% of PET.