All information about the BankAmericard® credit card has been collected independently by CardCritics™
BankAmericard® credit card Review
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Written by
Andrew Lisa
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Edited by
Emily Gadd
The BankAmericard® credit card is one of the best options on the market for transferring high-interest balances or financing major purchases over time. However, the card lacks any substantial benefits or ongoing rewards after the introductory APR period expires.
Purchase and Balance Transfer APR
0% Intro APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends a 15.24% to 25.24% Variable APR on purchases and balance transfers will apply.
Recommended Credit Score
Excellent/Good
670 – 850*
Balance Transfer Fee
A fee of 3% for 60 days from account opening, then 4% applies to all balance transfers.
Intro Bonus
N/A
Annual Fee
$0
Rewards
N/A
CardCritics™ Opinion
The Bank of America BankAmericard® credit card doesn’t pretend to be anything other than what it is — one of the best balance-transfer cards on the market. It allows cardholders to pause finance charges on purchases and put high-interest balances on the back burner for a year and a half — but the bulk of its value ends there. When the promotional APR period ends, the card offers little more than the open credit your limit provides.
Our Critical Analysis:
BankAmericard® credit card
- A lengthy intro APR period on purchases and balance transfers
- No annual fee
- No penalty APR
- Decent standard ongoing APR
- Competitive balance transfer fee
PROS
- No ongoing rewards
- Minimal perks and features
CONS
The Bank of America BankAmericard® credit card is a no-frills low APR and balance transfer card that can give accountholders a year and a half of breathing room to wrangle unmanageable high-interest balances. That, however, is its only true selling point. It pays none of the miles, points or cash-back rewards that are commonplace among competitor cards.
Generous Intro APR
The BankAmericard credit card offers an introductory 0% APR period of 18 months, one of the longest on the market. The offer applies both to purchases and balance transfers made within the first 60 days of opening the account.
After that, the APR shifts to a 15.49% – 25.49% Variable APR. An introductory rate that spans 18 full billing cycles is excellent — but it’s not the best you can find. For example, the Wells Fargo Reflect® Card offers a 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers, then a 17.24%, 23.74%, or 28.99% Variable APR but charges a higher balance transfer fee.
Alternatively, cards like Citi Double Cash® Card (an advertising partner) offer the same introductory period on balance transfers and also offers cash back rewards, giving it much more long-term value as a daily-use card. The intro APR period on purchases is shorter though.
Lower Intro Transfer Fee
The BankAmericard credit card offers a 3% introductory balance transfer fee for the first 60 days after opening the account. After that, the fee for all future balance transfers is 4%. Many cards charge 5% so this is a compelling perk to consider.
No Penalty APR
The card does not hit accountholders with a penalty APR, so paying late won’t automatically raise your interest rate. You might, however, still have to pay a late fee.
Security Features and Benefits
The card does not pay rewards or deliver any noteworthy benefits, but it does come with some basic features, including:
- Account alerts
- Fraud protection
- FICO score updates
Bank of America also lets you link the card to Bank of America bank accounts as a backup for overdraft protection.
Is It the Right Card For You?
The BankAmericard credit card may be the right fit for you if any of the following apply:
- You don’t want to pay an annual fee.
- You want to transfer high-interest balances to help pay down your balance.
- You don’t need a balance transfer card that pays rewards when the intro period ends.
- You have good to excellent credit.
Card Details From Bank of America
- 0% Intro APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 15.24% – 25.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%. Balance transfers may not be used to pay any account provided by Bank of America.
- No annual fee.
- No penalty APR. Paying late won’t automatically raise your interest rate (APR). Other account pricing and terms apply.
- Access your FICO® Score for free within Online Banking or your Mobile Banking app.
- Contactless Cards – The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Frequently Asked Questions
The BankAmericard® credit card is a top-shelf balance transfer card and little else — but is it the right choice for you? These answers to some frequently asked questions can help you decide.
Is a BankAmericard® credit card hard to get?
The BankAmericard credit card requires good to excellent credit. Typically a FICO credit score of 670 or above meets this criteria. However, having a credit score of 670 or above does not guarantee approval since other factors are taken into consideration.
What is the credit limit for the BankAmericard® credit card?
As with all cards, the BankAmericard credit card credit limit will vary according to each applicant’s credit history and profile. However, many cardholders report initial credit limits of between $1,000 and $15,000.
What is the annual fee for a BankAmericard® credit card?
The Bank of America BankAmericard credit card has a $0 annual fee.
What is the BankAmericard® credit card interest rate?
There’s a 0% Intro APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends a 15.24% to 25.24% Variable APR on purchases and balance transfers will apply.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*CardCritics™ references a FICO® 8 score, which is one of many different types of credit scores. A financial institution may use a different score when evaluating your application.
