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 a low balance transfer fee.

Advertiser Disclosure: This post contains references to products from one or more of our advertising partners.

Editor’s note: Some of the offers below may have expired. Bank of America rates updated July 31, 2018.

The BankAmericard credit card carries an introductory 0% APR for 15 billing cycles on purchases and balance transfers made within 60 days. After that, the variable APR of 14.74% to 24.74% will apply. Make a transfer during that time and you’ll pay a 3% balance transfer fee (min $10). While not as great as the previous $0 BT offer, consumers could still save hundreds of dollars over other balance transfer credit cards which can carry up to a 5% BT fee.

Review

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

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.
  • 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.
  • There is a balance transfer fee of 3% of the amount transferred or $10, whichever is greater.

Fees and APR

  • This card charges no annual fee.
  • There’s an 0% Introductory APR for 15 billing cycles for purchases and balance transfers made in first 60 days. After that, a variable APR of 14.74% to 24.74% will apply.
  • 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 3% of the amount of each transaction or $10 (whichever is greater)

Extras and perks

This card gives you a free monthly FICO score.

How this card compares

Chase Slate®
  • $0 Intro balance transfer fee for the first 60 days your account is open. After that, the fee for future transactions is 5% of the amount transferred with a minimum of $5.
  • 0% Intro APR for 15 months on purchases and balance transfers. After that, 16.49% - 25.24% variable APR.
  • See monthly updates to your FICO® Score and the reasons behind your score for free
  • No Penalty APR - Paying late won't raise your interest rate (APR). All other account pricing and terms apply
  • $0 Annual Fee

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our 0% apr category page.

Credit Needed

Excellent/Good

Regular APR

0% Intro APR for the first 15 billing cycles that your Account is open. After that, 16.24% to 24.99%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.

Annual Fee

No Annual Fee.

Balance Transfers Intro APR

0% Intro APR for the first 15 billing cycles that your Account is open. After that, 16.24% to 24.99%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.

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.

BankAmericard also charges a balance transfer fee of $10 or 3% of the amount of each transfer, whichever is greater. While the Slate card charges $5 or 5% of the amount of each transfer or whichever is greater.

Citi® Diamond Preferred® Card
  • 0% Intro APR on balance transfers for 21 months from date of first transfer. All transfers must be completed in first 4 months. After that the variable APR will be 14.74% - 24.74%, based on your creditworthiness
  • 0% Intro APR on purchases for 12 months from date of account opening. After that the variable APR will be 14.74% - 24.74%, based on your creditworthiness
  • If you transfer a balance with this offer, after your 0% Intro purchase APR expires, both new purchases and unpaid purchase balances will automatically accrue interest until all balances, including your transferred balance, are paid in full
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
  • $0 liability on unauthorized purchases and Citi® Identity Theft Solutions
  • No annual fee
  • Free access to FICO® Scores
Credit Needed

Excellent, Good

Regular APR

14.74% - 24.74%* (Variable)

Annual Fee

$0*

Purchase Intro APR

0%* for 12 months on Purchases*

Balance Transfers Intro APR

0%* for 21 months on Balance Transfers*

Citi Diamond Preferred gives you 21 interest-free months to pay off balance transfers. That’s the longest 0% introductory period available today.

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 18 months. After that, the variable APR will be 15.74% - 25.74% based on your creditworthiness
  • There is a balance transfer fee of either $5 or 5% 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, Good

Regular APR

15.74% - 25.74%* (Variable)

Annual Fee

$0*

Purchase Intro APR

0%* for 18 months on Purchases*

Balance Transfers Intro APR

0%* for 18 months on Balance Transfers*

If you have a great deal of credit card debt, you have a choice to make when it comes to balance transfer credit cards: Pick the one that on the surface offers the cheapest way to get out of debt, or pick the one that gives you a long 0% APR introductory period.

The Citi Simplicity Card falls into this second group.

 

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.