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BankAmericard benefits guide

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If your goal is to chip away at, or completely pay off, credit card debt, then the BankAmericard® credit card should grab your attention. Not only does it offer a 0 percent introductory APR on purchases for the first 18 billing cycles (13.74 percent – 23.74 percent variable APR after), it offers the same competitive intro offer for balance transfers made within the first 60 days, too.

The card’s $0 annual fee and welcome offer only enhance the BankAmericard benefits offered. Although it lacks a lucrative cash back program or fun travel rewards, the BankAmericard offers straightforward money-saving benefits that make it a valuable option for short-term debt payoff goals.

BankAmericard benefits

There may be fewer benefits associated with this card, but the potential impact each one has on your finances could be huge. Here are the BankAmericard benefits to focus on:

0% intro APR for 18 billing cycles

The standout feature of the BankAmericard is its 0 percent intro APR offer for both balance transfers and purchases for 18 billing cycles. However, balance transfers must be completed made within the first 60 days. While there is a 3 percent balance transfer fee (minimum $10), having 18 billing cycles with zero interest could help you achieve your debt payoff goals even sooner. (13.74 percent – 23.74 percent variable APR after)

The key is to initiate the balance transfer within 60 days of account opening, otherwise you lose this valuable benefit. Calculating the cost of the 3 percent balance transfer fee (minimum $10) is also critical so you can compare it to how much you will save by paying zero-interest over 18 billing cycles.

While 18 billing cycles is not the longest intro offer for balance transfers that you’ll find on the market, the BankAmericard provides you more time to pay off purchases without added interest versus other cards like the Citi® Diamond Preferred® Card, which offers an intro APR on balance transfers for 21 months and on purchases for 12 months followed by a variable APR of 14.49 percent to 24.49 percent.

Ongoing, lower variable APR

The 0 percent introductory APR for both purchases and balance transfers for 18 billing cycles is enticing, but the ongoing variable APR deserves a second look, too. The regular variable APR is 13.74 percent – 23.74 percent and is competitive compared to other credit cards, even when the desirable introductory APR offer ends.

No penalty APR

If you have ever been late on a credit card payment (or read through the terms and conditions), you will likely see that a card will revert to a higher APR if you are late with a 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.

The BankAmericard doesn’t include a penalty APR for one late payment, which is hard to find among popular balance transfer credit cards. However, there is up to a $40 late fee for late payments. Still, you won’t have to worry about undoing the biggest advantage this card has to offer.

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 one of the best zero-interest credit cards can definitely save a lot on interest fees while paying off debt, but it should always be weighed against the cost of the credit card.

Welcome offer

You’ll not often see an attractive balance transfer card with a welcome offer, but this is another perk of the BankAmericard. The welcome offer includes a $100 statement credit after spending $1,000 on purchases within the first 90 days of account opening. However, make sure you’re not further adding to your debt while trying to pay down your overall balance.

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 cards, grants you free general admission to over 225 cultural institutions across the U.S. on one designated weekend per month.


Although the BankAmericard does not offer a rewards program, it does offer eligibility for BankAmerideals. This program allows you to earn anywhere from 5 percent to 15 percent cash back for purchases through select retailers participating in the program. You must activate a deal to participate, but doing so could earn you a lot of cash back.

Standard card benefits

The major BankAmericard benefits are the intro APR offer, welcome offer and $0 annual fee, but there are a couple of other benefits worth mentioning. For example, the BankAmericard also includes basic overdraft protection, $0 fraud liability, digital wallet integration and free FICO score access.

How to maximize the BankAmericard

If you want to make the most of the BankAmericard benefits, be sure to focus on the following time-sensitive offers, such as:

  • 0 percent introductory APR on purchases for the first 18 billing cycles
  • 0 percent introductory APR on balance transfers for the first 18 billing cycles if the balance transfer is completed within the first 60 days of account opening
  • (13.74 percent – 23.74 percent variable APR after)
  • $100 statement credit if you spend $1,000 within the first 90 days

Additionally, depending on how much you need to use a credit card, it may be wise to pair the BankAmericard with a card offering cash back or travel rewards, since these are not offered with the BankAmericard.

The bottom line

The BankAmericard’s introductory APR for purchases and balance transfers for 18 billing cycles is a generous, lengthy offer. Add in the $0 annual fee and a welcome offer of $100 (if you spend $1,000 within the first 90 days) and the BankAmericard becomes a serious contender as a balance transfer card or large purchase card.

If you have accumulated debt with another credit card and are paying interest, it would be worth it to transfer it to a card with a 0 percent intro offer, like the BankAmericard, so you can be more aggressive with your debt payoff. Just be sure to make any balance transfers within the first 60 days of account opening, otherwise you will not be able to take advantage of the most valuable aspect of this card.


The information regarding the BankAmericard® credit card was last updated on June 3, 2022 

Written by
Erin Bendig
Erin pairs personal experience with research and is passionate about sharing credit card information and personal finance advice with others.
Edited by
Associate Editor