BankAmericard Credit Card

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One of the best balance transfer credit cards, with a powerful combo of 0% APR on transfers and no transfer fees.

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The BankAmericard Credit Card underwent a big makeover in May 2017, transforming this piece of plastic from drab to fab.

The revamped card now is a top choice among balance transfer credit cards. It carries an introductory 0% percent APR for 15 billing cycles on purchases and balance transfers made within 60 days. Make a transfer during that time and you’ll pay no balance transfer fee. That could save consumers hundreds of dollars over other balance transfer credit cards.

Review

The key to BankAmericard’s appeal is its one-two punch of a lengthy interest-free introductory period and the fee-free transfer from another card. The card now offers the same introductory balance transfer terms as Chase Slate, long considered a top choice among balance transfer cards.

Transferring high-interest debt without having to pay a fee — typically 3% to 5% — could help cut debt balances significantly. If you transfer a $10,000 balance to the BankAmericard, you have 15 billing cycles to pay it down — for free. But if you choose a card that charges a 3% balance transfer fee, you’re adding another $300 to your debt — even if that card gives you longer to pay off the balance at 0%.

If you don’t need to transfer a high-interest balance, there really is no compelling reason for you to apply for this credit card. It doesn’t have much in the way of rewards or perks. BankAmericard also charges a 3% foreign transaction fee, so it’s not a good choice for overseas spending.

Who should get this card

If you’re looking to pay down debt, this card is a good choice. Unlike many other balance transfer cards that have a capped amount, you can transfer a balance of up to the credit limit you’re approved for.

Advantages
  • It comes with an introductory 0% APR for 15 billing cycles on purchases and balance transfers made within 60 days of opening the account.
  • There's a $0 introductory balance transfer fee for balances transferred within 60 days of account opening.
  • After the intro period expires, if you qualify for the lower end of the variable APR range, it’s much better rate than the industry average.
  • If you're late with a payment, you'll be assessed a fee, but the card does not have a penalty APR.
Disadvantages
  • There are no sign-up bonuses or rewards program with this card.
  • There’s a 3% foreign transaction fee for every purchase made outside the U.S.

Fees and APR

  • This card charges no annual fee.
  • If you’re late with a payment, there is no penalty APR.
  • You’ll pay a 3% foreign transaction fee on all purchases made outside the United States.
  • The balance transfer fee is waved for the first 60 days after account opening, then 3%.
  • After the 0% introductory period on purchases and balance transfers expires, the standard APR is a variable 12.99% to 22.99%.

Extras and perks

This card gives you a free monthly FICO score.

How this card compares

Chase Slate®
  • $0 Introductory balance transfer fee for transfers made during the first 60 days of account opening
  • 0% Introductory APR for 15 months on purchases and balance transfers
  • Monthly FICO® Score and Credit Dashboard for free
  • No Penalty APR - Paying late won't raise your interest rate (APR). All other account pricing and terms apply
  • $0 Annual Fee
Credit Needed

Excellent

Regular APR

15.99% - 24.74% Variable

Annual Fee

$0

Purchase Intro APR

0% for 15 months

Balance Transfers Intro APR

0% for 15 months

There are other credit cards on the market offering longer terms like 18- and 21-month 0% APRs on balance transfers, but nearly all of them charge a 3% balance transfer fee. Where the Chase Slate stands out is the option to forgo a balance transfer fee if you make the transfer within the first 60 days of opening the account.

The BankAmericard is most similar to Chase Slate, although there are some notable differences. Chase Slate caps your balance transfer amount at $15,000 or your credit limit, whichever is lower. The BankAmericard doesn’t have a maximum transfer limit, but it can’t be greater than the credit limit you’re approved for. Depending on the size of the balance you’re looking to transfer, this could be a significant difference.

After the first 60 days, BankAmericard also charges a lower balance transfer fee of 3% to the Slate card’s 5%.

Citi® Diamond Preferred® Card
  • Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 13.99% - 23.99% based upon your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer
  • Citi® Price Rewind searches for lower prices online for 60 days for your registered purchases: you can get back up to $500 per item and $2,500 a year*
  • $0 liability on unauthorized purchases and Citi® Identity Theft Solutions
  • No annual fee*
  • Free access to FICO® Scores*
Credit Needed

Good

Regular APR

13.99% - 23.99%* (Variable)

Annual Fee

$0*

Purchase Intro APR

0%* for 21 months*

Balance Transfers Intro APR

0%* for 21 months*

Citi Diamond Preferred gives you 21 interest-free months to pay off purchases and balance transfers. That’s the longest 0% introductory period available today. After that, the variable APR will be 13.99% – 23.99% based on your creditworthiness.

Citi Simplicity® Card
  • The Only card with No Late Fees, No Penalty Rate, and No Annual Fee...Ever
  • 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 14.99% - 24.99% based on your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
  • The same great rate for all balances, after the introductory period
  • Save time when you call with fast, personal help, 24 hours a day - just say "representative"
  • Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month
Credit Needed

Excellent

Regular APR

14.99% - 24.99% (Variable)

Annual Fee

$0*

Purchase Intro APR

0%* for 21 months*

Balance Transfers Intro APR

0%* for 21 months*

The Citi Simplicity Card also offers a 21-month 0% intro APR on purchases and balance transfers. After that, the variable APR will be 14.99% – 24.99% based on your creditworthiness. You’ll also never pay late fees or get stuck with a penalty APR.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.