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Review: BankAmericard® Credit Card – April 2019

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BankAmericard® Credit Card

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

30-second take

  • 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.
Product NameBankAmericard® Credit Card
Card TypeVisa
Annual Fee$0
Purchase APR15.24% to 25.24% variable
Intro Purchase APR0% for the first 15 statement closing dates (then 15.24% to 25.24% variable)
Balance Transfer APR15.24% to 25.24% variable
Intro Balance Transfer APR 0% for the first 15 statement closing dates (then 15.24% to 25.24% variable)
Balance Transfer FeeNo balance transfer fees for the first 60 days (then $10 or 3%)
Cash Advance Rate18.24% to 27.24% variable
Foreign Transaction Fee3% of the transaction value
Cash Advance Fee$10 or 5% of the cash advance amount, whichever is greater
Interest Free PeriodUp to 25 days
Late Payment FeeUp to $39
Returned Payment FeeUp to $28
Additional Cardholder Fee$0
Minimum Age18 years of age

The basics

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 15.24% to 25.24% 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 15.24% 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 15.24% to 25.24% variable.

Consider other cards if …

  • Your credit history is so-so.

    If you have less-than-stellar credit, consider improving your score with a secured credit card. Look into the Discover it® Secured, an excellent product that allows balance transfers.

  • You want a market-leading intro APR.
    Look into the U.S. Bank Visa® Platinum Card, which offers 0% intro APR for 20 billing cycles on balance transfers and 0% intro APR for 20 billing cycles on purchases. After the promotional period ends for each, you’ll have an ongoing APR between 14.74% to 25.74% variable .
  • You want a longer intro APR on purchases and balance transfers.

    Consider the Citi Simplicity® Card, which offers a 0% intro APR on purchases and balance transfers for 12 months. After, you’ll receive an ongoing APR of 16.24% to 26.24% variable.

  • You want rewards.

    Cards with market-leading intro APRs often don’t offer rewards. If you’re looking for travel rewards, try products like the Chase Sapphire Preferred® Card or Bank of America® Travel Rewards credit card. For cash back, consider the Citi® Double Cash Card or Bank of America® Cash Rewards credit card.

  • You want rewards and a strong intro APR.

    Try the Discover it® Cash Back, which offers 0% intro APR on purchases and balance transfers for 14 months. After, you’ll receive an ongoing APR of 14.24% to 25.24% variable. On top of that, you can earn 5% cash back in quarterly rotating categories.

Compare balance transfer cards

Updated April 18th, 2019
Name Product Intro Balance Transfer APR Balance Transfer Fee Recommended Minimum Credit Score
0% for the first 15 months (then 17.24% to 25.99% variable)
$5 or 3% of the transaction, whichever is greater
670
Earn 3% cash back on all purchases in your first year up to $20,000 spent. After that earn unlimited 1.5% cash back on all purchases.
0% for the first 15 months (then 15.24% to 26.24% 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
0% for the first 15 months (then 15.24% to 26.24% variable)
$5 or 3% of the transaction, whichever is greater
680
Earn a $150 statement credit after you spend $1,000 or more in purchases with your new card within the first 3 months of card membership. Rates & Fees
0% for the first 12 months (then 15.24% to 26.24% variable)
$5 or 3% of the transaction, whichever is greater
680
Earn $200 bonus cash back after you spend $1,000 on purchases in the first 3 months. Rates & Fees
0% for the first 15 months (then 17.24% to 25.99% variable)
$5 or 3% of the transaction, whichever is greater
670
0% intro APR for 15 months from account opening on purchases and balance transfers.
0% for the first 15 months (then 14.24% variable)
See issuer terms
670
Enjoy a 0% intro APR on balance transfers for the first 15 months, then a low ongoing APR of 14.24% variable.
0% for the first 12 months (then 15.24%, 19.24% or 25.24% variable)
$10 or 4% of the transaction, whichever is greater
670
Earn unlimited 1.5% cash rewards on purchases. See Rates and Fees.
0% for the first 15 months (then 14.24%, 20.24% or 25.24% variable)
$10 or 4% of the transaction, whichever is greater
670
An 15 months 0% intro APR period on both purchases and balance transfers, plus zero foreign transaction fees, makes this is a strong well-rounded card. See Rates and Fees
1.99% 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.
0% for the first 15 billing cycles (then 17.24% variable)
$5 or 3% of the transaction, whichever is greater
700
Enjoy unique excursions, privileged access to exclusive events and insider opportunities.
0% for the first 15 billing cycles (then 17.24% 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.
0% for the first 15 billing cycles (then 17.24% 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.
0% for the first 12 billing cycles (then 16.24% to 25.74% 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.
0% for the first 12 months (then 12.99% to 17.99% variable)
3%
670
Earn 25,000 bonus points when you spend $2,500 in the first 90 days from account opening.
0% for the first 12 months (then 11.99% to 17.99% variable)
3%
670
2% cash back for all PenFed Honors Advantage members and 1.5% cash back on all purchases made with your card.
0% for the first 12 months (then 9.24% to 17.99% variable)
3%
670
Low APR on all purchases including cash advances.
4.99% for the first 12 months (then 11.99% to 17.99% variable)
None
670
Earn a $100 bonus after spending $1,500 on purchases in the first 90 days from account opening.
0% for the first 12 months (then 11.99% to 17.99% variable)
3%
670
Earn 5x points on gas at the pump and 3x points on groceries. Earn 1x points on all other purchases.
0% for the first 12 months (then 15.15% to 25.15% variable)
$5 or 3% of the transaction, whichever is greater
580
Earn $150 in statement credit after you spend $1,200 on purchases within the first 90 days from account opening.
0% for the first 12 months (then 15.99% to 25.99% variable)
$10 or 2% of the transaction, whichever is greater
670
20,000 bonus LifeMiles after first card use
0% for the first 12 months (then 15.99% to 25.99% variable)
$10 or 2% of the transaction, whichever is greater
670
40,000 bonus LifeMiles after first card use
9.95% 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.
0% for the first 12 months (then 15.24% to 25.24% variable)
$5 or 3% of the transaction, whichever is greater
670
Earn 15,000 Membership Rewards points after you spend $1,000 on purchases in the first 3 months of opening your account.
0% for the first 15 months (then 17.24% to 25.99% variable)
No balance transfer fees for the first 60 days (then $5 or 5%)
670
Enjoy a 60 days introductory balance transfer offer, save on interest, and get your free monthly credit score.
0% for the first 15 statement closing dates (then 15.24% to 25.24% variable)
No balance transfer fees for the first 60 days (then $10 or 3%)
670
Enjoy a 0% intro balance transfer APR for the first 15 statement closing dates, then variable.

N/A

3%
670
This card offers the same low rate for purchases, cash advances and balance transfers.
0% for the first 12 statement closing dates (then 16.24% to 26.24% variable)
$10 or 3% of the transaction, whichever is greater
720
Earn more cash back for the things you buy most.
7.9% for the first 90 days (then 12.15% to 17.99% variable)
None
670
Enjoy perks and save money while gaining points with every purchase.
10.99% for the first 6 months (then 25.24% variable)
3%
580
2% cashback at restaurants or gas stations on up to $1,000 in combined purchases each quarter. Plus 1% cash back on all other credit card purchases.

N/A

$5 or 5% of the transaction, whichever is greater
300
Establish credit history - with responsible use you may be upgraded to an unsecured credit card.

N/A

$10 or 3% of the transaction, whichever is greater
300
Helps establish, strengthen and even rebuild your credit.

N/A

$5 or 3% of the transaction, whichever is greater
300
Get worldwide purchasing power and flexibility as you work to build or re-establish your credit history.
Aspire Platinum Mastercard®
Aspire Platinum Mastercard®
0% for the first 6 billing cycles (then 8.9% to 18% variable)
$5 or 2% of the transaction, whichever is greater
580
Enjoy a 0% introductory APR on purchases and balance transfers for the first 6 months.

Compare up to 4 providers

How does a balance transfer work with this card?

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

  1. Go to the Bank of America website and click Apply now.
  2. Complete the application with details like your name, address, annual income and Social Security number.
  3. 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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