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Review: BankAmericard® Credit Card

Kevin Joey Chen

Last updated: 7 November 2019

A stellar balance transfer card — one that offers a strong intro APR and a rare promotion on balance transfer fees.

Get this card if you want to transfer debt from other sources and save on interest.

Pick something else if you want to earn rewards.

Apply with a good to excellent credit range of 670 to 850.

Annual fee

Intro Purchase APR

for the first 15 statement closing dates (then 14.74% to 24.74% variable)

Intro Balance Transfer

for the first 15 statement closing dates (then 14.74% to 24.74% variable)

14.74% to 24.74%

Balance Transfer APR (variable)

Product Name	BankAmericard® Credit Card
Card type	Visa
Annual fee	$0
Purchase APR	0% intro for the first 15 statement closing dates (then 14.74% to 24.74% variable)
Balance transfer APR	0% intro for the first 15 statement closing dates (then 14.74% to 24.74% variable)
Balance transfer fee	No balance transfer fees for the first 60 days (then $10 or 3%)
Cash advance rate	17.74% to 26.74% variable
Cash advance fee	$10 or 5% of the cash advance amount, whichever is greater
Foreign transaction fee	3% of the transaction value
Interest free period	Up to 25 days
Late payment fee	Up to $39
Returned payment fee	Up to $28
Additional cardholder fee	$0

Minimum age	18 years of age

Expert review

Review by

Kevin Joey Chen

kevin.chen@findercrew.com

Kevin Joey Chen is a credit cards, banking and investments writer who has written nearly 500 Finder articles. He's passionate about helping you get your finances in order and expertly navigate the cutting-edge financial tools available -- including credit cards, apps and budgeting software.

Expert review

The BankAmericard® Credit Card doesn’t come with many bells and whistles. However, it offers three great perks: a$0 annual fee, a strong intro APR and a rare promotion on balance transfer fees.

If you’re looking for a balance transfer card, the BankAmericard® Credit Card could be the right pick. It offers 0% intro APR on purchases and balance transfers for the 15 statement closing dates, reverting to 14.74% to 24.74% variable after.

Fifteen months for a promotional APR is eclipsed by few other cards. Use the BankAmericard® Credit Card if you want to make a big purchase now and pay it off over time — or simply pause your current interest with a balance transfer.

You’ll find many balance transfer cards, but not many of them waive transfer fees. With the BankAmericard® Credit Card, you’ll pay no balance transfer fees for the first 60 days your account is open. After, you’ll pay 3% or $10 of each transaction. It’s a big differentiator that puts the card head and shoulders above competitors.

How good is the BankAmericard® Credit Card‘s balance transfer fee promotion?

Your typical credit card comes with a fee for each balance transfer — usually 3% for each transaction. That means on a $10,000 balance transfer, you might pay $300 in fees.

Not so with the BankAmericard® Credit Card. If you transfer the same $10,000 within the first 60 days your account is open, you’ll pay $0 in fees.

That’s one of the reasons the BankAmericard® Credit Card is such a strong choice: You can transfer your debt for nothing, as long as you do so within the time limit. Very few cards offer this promotion, making the BankAmericard® Credit Card that much more special.

The perks

Annual fee: $0.

The card comes with a $0 annual fee, so it’s easy to keep long term. Keeping cards open can also help your credit score by increasing your average account age.
Low intro APR.

This card comes with a 0% intro APR on purchases and balance transfers for the 15 statement closing dates. After that, you could qualify for a relatively low ongoing APR, depending on your creditworthiness — as low as 14.74% variable.
Balance transfer fee promotion.

Transfer balances to the BankAmericard® Credit Card within the first 60 days your account is open, and pay no transfer fees.

This is half of the one–two punch that makes the card so special. Intro APRs can sound great, until you realize how much you have to pay in balance transfer fees. Few cards waive those fees, making the BankAmericard® Credit Card a stellar pick if you want a zero-cost transfer.

You’ll also like …

No penalty APR.

If you miss a payment, you won’t be charged a penalty APR. Some banks raise your APR as high as 29.99% variable if you pay late.
Free FICO score.

Monitor your FICO score online or through Bank of America’s app.
Overdraft protection.

Link an eligible Bank of America checking account with your credit card to protect yourself from overdrafts.
Security and safeguards.

This chip-enabled card comes with $0 liability for fraud, ShopSafe online shopping protection and email and text alerts.

What to watch out for

Foreign transaction fees.

When you use this card outside the United States, you’ll pay 3% of each transaction in fees.
End of intro APR.

After the 15 statement closing dates, your 0% intro APR expires. Your outstanding balances will start accumulating interest at an APR of 14.74% to 24.74% variable.

Compare balance transfer cards

Updated November 19th, 2019

Name	Balance transfer APR	Balance transfer fee	Recommended minimum credit score
Blue Cash Everyday® Card from American Express	0% intro for the first 15 months (then 14.49% to 25.49% variable)	$5 or 3% of the transaction, whichever is greater	680	Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & fees	Apply now View details	Compare	loading Fetching your data...
American Express Cash Magnet® Card	0% intro for the first 15 months (then 14.49% to 25.49% variable)	$5 or 3% of the transaction, whichever is greater	680	Unlimited 1.5% cash back. Rates & fees	Apply now View details	Compare	loading Fetching your data...
Capital One® Quicksilver® Cash Rewards Credit Card	0% intro for the first 15 months (then 15.74%, 21.74% or 25.74% variable)	3%	670	Earn unlimited 1.5% cash back on every purchase, every day.	See offer View details	Compare	loading Fetching your data...
Capital One® SavorOne® Cash Rewards Credit Card	0% intro for the first 15 months (then 15.74%, 21.74% or 25.74% variable)	3%	670	Earn $150 after spending $500 in the first 3 months.	See offer View details	Compare	loading Fetching your data...
Blue Cash Preferred® Card from American Express	0% intro for the first 12 months (then 14.49% to 25.49% variable)	$5 or 3% of the transaction, whichever is greater	670	6% cash back at US supermarkets. Rates & fees	Apply now View details	Compare	loading Fetching your data...
CardMatch™ from creditcards.com	See issuer's website		300	Can't decide on a card? Get personalized credit card offers with CardMatch™.	See offer View details	Compare	loading Fetching your data...
U.S. Bank Cash+™ Visa Signature® Card	0% intro for the first 12 billing cycles (then 15.49% to 24.99% variable)	$5 or 3% of the transaction, whichever is greater	670	When you spend $500 on your card within the first 90 days, you’ll receive a $150 cash back bonus. Rates & Fees	Apply now View details	Compare	loading Fetching your data...
Chase Freedom Unlimited®	0% intro for the first 15 months (then 16.74% to 25.49% variable)	$5 or 5% of the transaction, whichever is greater	670	Earn a $150 signup bonus after spending $500 in the first 3 months from account opening.	See offer View details	Compare	loading Fetching your data...
Chase Freedom®	0% intro for the first 15 months (then 16.74% to 25.49% variable)	Intro fee of $5 or 3% of the transaction, whichever is greater for the first 60 days (then $5 or 5%)	670	Earn $150 cash back after spending $500 in the first 3 months from account opening.	See offer View details	Compare	loading Fetching your data...
TD Cash Credit Card	0% intro for the first 12 billing cycles (then 14.74%, 19.74% or 24.74% variable)	$5 or 3% of the transaction, whichever is greater	680	Earn $200 cash back when you spend $500 within 90 days after account opening.	Apply now View details	Compare	loading Fetching your data...
Amalgamated Bank of Chicago Platinum Rewards Mastercard®	0% intro for the first 12 months (then 14.65% to 24.65% variable)	$5 or 3% of the transaction, whichever is greater	670	Earn $150 in statement credit after you spend $1,200 on purchases within the first 90 days from account opening.	Apply now View details	Compare	loading Fetching your data...
Luxury Card Mastercard® Titanium Card™	0% intro for the first 15 billing cycles (then 16.49% variable)	$5 or 3% of the transaction, whichever is greater	700	Enjoy unique excursions, privileged access to exclusive events and insider opportunities.	Apply now View details	Compare	loading Fetching your data...
Luxury Card Mastercard® Black Card™	0% intro for the first 15 billing cycles (then 16.49% variable)	$5 or 3% of the transaction, whichever is greater	670	Receive an annual $100 air travel credit toward flight-related purchases including airline tickets, baggage fees, upgrades and more.	Apply now View details	Compare	loading Fetching your data...
Luxury Card Mastercard® Gold Card™	0% intro for the first 15 billing cycles (then 16.49% variable)	$5 or 3% of the transaction, whichever is greater	740	Earn 2% point value when redeemed for airfare or cash back through the Luxury rewards program.	Apply now View details	Compare	loading Fetching your data...
Charity Charge World Mastercard® Credit Card	1.99% intro for the first 6 monthly billing cycles (then 16.24% to 22.24% variable)	$10 or 5% of the transaction, whichever is greater	670	1% cash back to the nonprofits, K-12 schools, colleges and religious organizations of your choice.	Apply now View details	Compare	loading Fetching your data...
UNITY Visa® Secured Credit Card	9.95% intro for the first 6 months (then 17.99% fixed)	$10 or 3% of the transaction, whichever is greater	300	Borrow up to $10,000 and get your credit score back on track.	Apply now View details	Compare	loading Fetching your data...
Capital One® Secured Mastercard®	26.99% variable	None	300	Get access to a higher credit line after making your first 5 monthly payments on time.	See offer View details	Compare	loading Fetching your data...

Compare up to 4 providers

How does a balance transfer work with this card?

Request a balance transfer when you open your credit card, or request one later.
You’ll need the account number of your existing balance. You’ll also need personal information like your income, employment details and Social Security number.
For the first 60 days after you open your card account, you’ll pay no balance transfer fees. After that time, you’ll pay 3% or $10 of each transfer, whichever is greater.

What should I know before I apply?

To apply for the BankAmericard® Credit Card, you must be at least 18 years old (or at least 21, if you’re a permanent resident of Puerto Rico).

Information you’ll need

Your name, residential status and residential address
Your Social Security number and date of birth
Your email address and phone number
Financial information like your annual income, source of income and employment information

What credit score do I need?

You’ll have a better chance of approval for the BankAmericard® Credit Card if you apply with a credit score of 670 or higher.

What do customers say about the BankAmericard® Credit Card?

Cardholders generally like the BankAmericard® Credit Card‘s intro APR, though some think the card isn’t very useful after that rate expires.

Bank of America itself earns a Trustpilot score of 5.5 out of 10 at the time of this writing. Most negative reviews cite unhelpful customer support. Positive reviews often point to the bank’s easy-to-use website.

Bank of America also earns a B+ rating from the Better Business Bureau.

How to apply for the BankAmericard® Credit Card

Go to the Bank of America website and click Apply now.
Complete the application with details like your name, address, annual income and Social Security number.
Review and submit your application.

How long will it take to be approved?

Because conditional approval is automated on the Bank of America website, you’ll often get a decision within minutes. In some cases, you’ll need to wait a few business days to a few weeks to receive a response.

I got the card. Now what?

Keep on top of spending. Use Bank of America’s online banking to monitor your spending, view statements and make payments.
Avoid unnecessary interest. After your intro APR expires, you’ll start paying interest toward all outstanding balances. If you take out a cash advance, you’ll pay interest from the day of your transaction.
Avoid fees. While you aren’t charged a penalty APR, late and returned payments come with fees of up to $39.
Customer service. Call Bank of America Customer Support at 800-432-1000 or email using an online secure form. Connect on social media using Twitter or Facebook @BankofAmerica.

Bottom line

The simple BankAmericard® Credit Card may work best if you want an option to pay down existing debts. It’s a great choice for balance transfers, as it combines a no-transfer-fee offer with an intro APR.

Frequently asked questions

Images: BankofAmerica.com

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Review: BankAmericard® Credit Card