Our Verdict
While the BankAmericard® credit card for Students* doesn’t earn rewards, it’s a strong option for students who are looking for an opportunity to save on interest and build their credit at the same time. Those who qualify for the card can benefit from its long intro APR offer on purchases and balance transfers, giving them more time to pay off a large purchase or whittle away at existing debt. However, this card, unlike most cards aimed at students, is only available to those with already-strong credit, so it’s not a fit for those seeking their first credit card.
Pros
- No annual fee
- Introductory APR period is rare for student cards
- Offers a path for students to build credit
Cons
- No rewards program
- Balance transfer fee
- Foreign transaction fee
Highlights
- No annual fee
- No penalty APR
- Access your FICO® Score for free within online banking or the mobile banking app
- Contactless card
Introduction
The BankAmericard® credit card for Students* is designed for students seeking another credit card—one to help them pay down balances they’d like to transfer from another card or to gain some extra time to pay off a big purchase. The card offers a 0% intro APR on purchases and balance transfers for 18 billing cycles, followed by a regular variable APR of 16.24% - 26.24%. Balance transfers must be completed within 60 days of account opening. A 3% fee applies to all balance transfers for the first 60 days your account is open, then 4%.
The card doesn’t earn rewards, which means it doesn’t have much staying power past the introductory APR period. Still, it’s rare to find a 0% intro APR offer on a student card and even more rare to find a balance transfer offer on one. That makes this card a top option for students who’ve already established some credit and are looking to save on interest with an intro APR offer.
The BankAmericard® credit card for Students* offers the standard array of Bank of America benefits: FICO Score monitoring, $0 fraud liability, paperless statements, digital wallets and online and mobile banking. For students, the convenience of these options is a plus, but any card worth considering will offer similar perks. What’s more important is if you have the need to finance a large purchase or transfer a balance and whether this card can make that possible for you.
Featured Partner Offers
Quick Facts
- $0 annual fee
- Introductory APR period: 0% intro APR on purchases and balance transfers for 18 billing cycles, followed by a regular variable APR of 16.24% - 26.24%. Balance transfers must be completed within 60 days of account opening. A 3% fee applies to all balance transfers for the first 60 days your account is open, then 4%
- Optional overdraft protection
- FICO Score monitoring for free
Introductory Rates
This card offers a 0% intro APR on purchases and balance transfers for 18 billing cycles, followed by a regular variable APR of 16.24% - 26.24%. Balance transfers must be completed within 60 days of account opening. A 3% fee applies to all balance transfers for the first 60 days your account is open, then 4%.
Other Card Benefits
- FICO Score. Receive monthly free access to a FICO Score.
- $0 liability guarantee. Cardholders aren’t responsible for unauthorized purchases.
- Mobile and online banking. Take care of your banking on the go via a computer or mobile device.
- Paperless statements. Increase account security while reducing paper consumption.
- Digital wallet and contactless chips. Go hands-free with digital and contactless options.
Fine Print
Interest Rates
- Regular APR: 16.24% - 26.24% Variable APR on purchases and balance transfers
- Purchase intro APR: 0% Intro APR for 18 billing cycles for purchases
- Balance transfer intro APR: 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days
Fees
- Annual fee: $0
- Balance transfer fee: 3% for the first 60 days your account is open, 4% thereafter
- Foreign purchase transaction fee: 3% of the amount of each transaction
How the BankAmericard Credit Card for Students Stacks Up
BankAmericard® credit card for Students* vs. Bank of America® Customized Cash Rewards credit card for Students
The BankAmericard® credit card for Students* and the Bank of America® Customized Cash Rewards credit card for Students can be confusing to those not yet familiar with the branding specifics of Bank of America’s cards. Though offered by the same bank, these have different attributes and only the Bank of America® Customized Cash Rewards credit card for Students earns rewards. With the Customized Cash Rewards Card for Students, cardholders earn 3% cash back in the category of choice and an automatic 2% at grocery stores and wholesale clubs. Bonus earning is limited to the first $2,500 in the 3% and 2% categories combined each quarter. Earn an unlimited 1% on all other purchases. New cardholders can also earn a $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening. This card also requires strong credit and between that and the complicated rewards systems, it’s best for those with some credit card experience under their belt.
BankAmericard® credit card for Students* vs. Bank of America® Travel Rewards credit card for Students
For students who study abroad or who often spend time in between classes traveling, the Bank of America® Travel Rewards credit card for Students may be a better choice. It focuses on earning points to redeem on travel. The card earns 1.5 points per dollar on all purchases everywhere, every time with no expiration on points as long as your account remains open. It also charges no foreign transaction fees.
BankAmericard® credit card for Students* vs. Discover it® Student Cash Back
The Discover it® Student Cash Back has a different rewards structure, earning 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations and more, up to the quarterly maximum once activated. Plus, automatically earn unlimited 1% cash back on all other purchases. New cardholders can earn Unlimited Cashback Match™ - Discover will match all the cash back you’ve earned at the end of your first year. There's no minimum spending or maximum rewards. The welcome offer makes this card a standout compared to other rewards cards for students.
Is the BankAmericard Credit Card for Students for You?
The BankAmericard® credit card for Students* might work for students who are looking to pay down a balance transfer or finance large purchases. It’s one of the best student cards available today for introductory APR offers. For rewards, though, you’ll need to look elsewhere.
Find the Best Student Credit Cards of 2024
Methodology
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:
- Annual fees
- Welcome bonus offers
- Ongoing earning rates
- Value of individual points or miles
- Included travel or merchant credits
- Additional cardholder benefits
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.
Read more: How Forbes Advisor Rates Credit Cards
*The information for the following card(s) has been collected independently by Forbes Advisor: BankAmericard® credit card for Students. The card details on this page have not been reviewed or provided by the card issuer.
