Key takeaways

  • At 18 billing cycles, BankAmericard offers an ample intro 0% APR period on purchases and balance transfers (after the intro period a variable 16.24 percent to 26.24 percent applies), 3% intro balance transfer fee for 60 days from account opening, then 4%
  • BankAmericard doesn’t charge an annual fee, but still offers plenty in the way of “fine print” benefits
  • This is not a rewards card, it’s primary benefit is the lengthy intro APR offer

If your goal is to pay off credit card debt, the no-annual-fee BankAmericard® credit card* has likely grabbed your attention. This balance transfer card offers one of the longest intro zero-interest balance transfer periods on the market, along with an equally-as-long offer on new purchases (variable 16.24 percent to 26.24 percent APR applies after the intro periods).

Although it lacks ongoing rewards and a welcome bonus, the BankAmericard offers straightforward, money-saving benefits that make it a valuable option for debt payoff.

BankAmericard benefits

There may be fewer benefits associated with the BankAmericard, but the potential impact each one has on your finances could be significant. Focus on these benefits:

0% intro APR for 18 billing cycles

The standout feature of the BankAmericard is its 0 percent intro APR offer on both balance transfers and purchases for 18 billing cycles, followed by a variable APR between 16.24 percent to 26.24 percent. Note that balance transfers must be made within the first 60 days of account opening and that an intro 3 percent balance transfer fee applies, then 4 percent.

Having 18 billing cycles with zero interest could help you achieve your debt payoff goals even sooner. The key is to initiate the balance transfer within 60 days of account opening; otherwise, you won’t be able to take advantage of this valuable benefit. Be sure to calculate the cost of the intro 3 percent balance transfer fee in advance, too.

The BankAmericard’s 0 percent intro offer on balance transfers is slightly shorter than those offered by the Citi® Diamond Preferred® Card* and Citi Simplicity® Card* (21 months in both cases), yet these Citi cards offer much shorter 0 percent intro APRs on purchases at only 12 months, as well as slightly higher ongoing variable APRs (18.24 percent to 28.99 percent for Diamond Preferred and 19.24 percent to 29.99 percent for Simplicity).

Lower ongoing variable APR

The card’s 0 percent introductory APR on both purchases and balance transfers is enticing, but the ongoing variable APR deserves a second look, too. After your introductory period ends, your balances will be subject to a variable APR between 16.24 percent to 26.24 percent. This variable APR range is on the lower end compared to other balance transfer cards, which can provide you peace of mind should you end up taking longer than 18 billing cycles to pay off your debt.

No penalty APR

Many credit cards can impose a penalty APR after a missed payment. While this is meant to encourage cardholders to make their payments on time, a simple mistake with one late payment can end up costing you a lot in interest.

Thankfully, the BankAmericard doesn’t charge a penalty APR, which is a sought-after perk among popular balance transfer credit cards. However, there is a late fee of up to $40 for late payments. If this sort of fee is important to you, consider reading our guide to the best credit cards with no late fees.

No annual fee

The BankAmericard does not charge an annual fee. This further adds to the card’s appeal when you need to pay off debt. Using a balance transfer card can save you a lot when it comes to interest, but you should always weigh that savings against the cost of holding the card.

$0 fraud liability

Should your card or card number be used to make fraudulent transactions, you can rest easy knowing you’re covered by Bank of America’s $0 fraud liability perk. Simply report the transaction(s) in a timely manner.

Free FICO score access

As a BankAmericard cardholder, you have free access to your FICO credit score, allowing you to stay on top of any changes in your score and view any factors that are affecting it. To check your score, log in to your account online or via the mobile app.

Museums on Us

BankAmericard cardholders are eligible for Bank of America’s Museums on Us program. This lesser-known benefit, available with all Bank of America credit and debit cards, grants you free general admission to more than 225 cultural institutions across the U.S. on the first full weekend of each month.


Although the BankAmericard does not offer a rewards program, it does offer access to BankAmeriDeals. This program allows you to earn cash back or a percentage of cash back for qualifying purchases made with retailers that participate in the program. You must activate a deal before you make a purchase, but doing so could earn you cash back.

How to maximize the BankAmericard

Make the most of the BankAmericard’s benefits by focusing on its time-sensitive offers, such as the 0 percent intro APR on purchases and balance transfers for 18 billing cycles (16.24 percent to 26.24 percent variable after that). Most importantly, if you’re interested in completing a balance transfer, be sure to do so within the first 60 days of account opening so that you don’t lose access to the intro offer.

While the card does provide a 0 percent intro APR period on new purchases, it’s wise to keep your spending to a minimum if you plan on paying off existing credit card debt. The worst thing you can do is rack up additional charges during your payoff window and end up in more debt than you started with.

Lastly, take advantage of the card’s free access to your FICO credit score. If you hope to eventually raise your score enough to qualify for a more premium rewards credit card down the line, keeping an eye on your debt progress is one important step.

The bottom line

The BankAmericard’s 0 percent introductory APR on purchases and balance transfers is one of the longest offers available among balance transfer cards — and this can certainly make the card worth it for anyone who needs an ample amount of time to pay off debt. But before you make the decision to apply, read through our list of the best balance transfer credit cards to ensure you choose the perfect option for your debt payoff needs, rewards goals and more.

*The information about the BankAmericard® credit card, Citi® Diamond Preferred® Card and Citi Simplicity® Card has been collected independently by The card details have not been reviewed or approved by the card issuer.

The information about the Bank of America products was updated on February 9, 2024