BankAmericard® credit card

Robin Saks Frankel  in  Balance Transfer Advertising Disclosure
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Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Apply Now On Bank of America's secure website
Annual Fee:
$0
Purchase Intro APR:
0% Introductory APR on purchases for 18 billing cycles
Balance Transfer Intro APR:
0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days
Regular APR:
15.24% - 25.24% Variable APR on purchases and balance transfers
Terms and Restrictions Apply

Bankrate Rating

Commonly used for: 0% Introductory APR, Balance Transfer.

Score Breakdown

Bankrate Rating

Rewards
Annual Fee
Variable APR

The BankAmericard credit card carries a 0% Introductory APR for 18 billing cycles for purchases and for any balance transfers made in the first 60 days, then 15.24% – 25.24% Variable APR. 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 balance transfer 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 a slightly longer introductory balance transfer term than the Chase Slate; however, both cards may be considered 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 a 0% introductory APR for 18 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 a 0% Introductory APR for 18 billing cycles for purchases and for any balance transfers made in the first 60 days. After that, a variable APR of 15.24%-25.24% 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.