Our Verdict
The main appeal of the BankAmericard® credit card is its low introductory APR offer: Get a 0% intro APR for 18 billing cycles for purchases and for any balance transfers made in the first 60 days from account opening, 16.24% - 26.24% variable APR thereafter. A 3% balance transfer fee applies for the first 60 days, then 4% and that’s about it. There are no rewards or other meaningful perks with this card. The card advertises no penalty APR, but doesn’t change the fact that once the intro APR period ends, there’s little reason to keep this card.
Pros
- No penalty APR
- No annual fee
Cons
- No rewards program
- Foreign transaction fee
- Fee on balance transfers
Highlights
- 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 16.24% – 26.24% 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%.
- 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.
Introduction
BankAmericard from Bank of America doesn’t offer much beyond its intro APR offers. The card does skip a penalty APR, but making late payments and incurring fees should still be avoided.
The card comes with Bank of America’s standard benefits of paperless statements, FICO score access, account alerts, online and mobile banking and zero liability protection. Other than those, there are no additional benefits or incentives.
Ultimately, there aren’t many scenarios in which this card would be something to recommend other than for temporary use for its intro APR offer. But you can find other cards with a similar intro APR offer that come with rewards or other benefits.
Quick Facts
- Introductory APR for purchases and eligible balance transfers
- No annual fee
- No penalty APR
- No rewards
Introductory Rates
The BankAmericard offers a 0% intro APR for 18 billing cycles for purchases and for any balance transfers made in the first 60 days from account opening, 16.24% - 26.24% variable APR thereafter. A 3% balance transfer fee applies for the first 60 days, then 4%.
Other BankAmericard Credit Card Benefits
- Paperless statements. Save the planet and skip the snail mail paper usage.
- Digital wallet and contactless chip technologies. Hi-tech convenience for the modern spender.
- Online and mobile banking. Manage accounts from an app or on the web.
- Overdraft protection. Protect overdraw on Bank of America bank accounts for a fee.
- $0 liability guarantee. Cardholder is not responsible for unauthorized charges.
- FICO Score access. Access to cardholder’s credit score for free.
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 60 days from account opening, then 4%
- Foreign purchase transaction fee: 3%
How the BankAmericard Credit Card Stacks Up
BankAmericard® credit card vs. Chase Freedom Flex℠
The Chase Freedom Flex comes with an intro APR offer too: 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24% applies. Balance transfer fee of up to 5% (min. $5) of the amount of each transfer applies.
It also earns 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases. Plus, the card comes with a welcome offer: $200 bonus after spending $500 on purchases in the first 3 months from account opening. It’s easy to see that the Chase Freedom Flex comes out ahead of the BankAmericard for long-term use.
BankAmericard® credit card vs. U.S. Bank Visa® Platinum Card*
The U.S. Bank Visa® Platinum Card* comes with the following intro APR periods: 0% intro APR on purchases and balance transfers for 21 billing cycles, followed by a variable APR of 18.74% - 29.74%. A balance transfer of 5% of the amount of each transfer or $5 minimum, whichever is greater, applies.
Neither card has an annual fee and both cards have balance transfer fees. While the intro APR offer on the U.S. Bank Visa Platinum Card is similar to the one offered by the BankAmericard, the Platinum is still a solid choice for balance transfers or financing a big purchase.
The U.S. Bank Platinum does not have much in the way of benefits, but it does offer cell phone protection and identity theft monitoring through ID Navigator Powered by NortonLifeLock.
BankAmericard® credit card vs. Bank of America® Customized Cash Rewards credit card
Bank of America also issues the Bank of America® Customized Cash Rewards credit card, which offers 0% introductory APR for 15 billing cycles for purchases and balance transfers, 19.24% - 29.24% variable APR applies thereafter. Intro rate applies for any balance transfers made in the first 60 days; balance transfer fee of 3% applies to each transfer during this period, then 4%. The Customized Cash Rewards card also comes with a welcome offer of $200 online cash rewards bonus after spending $1,000 in purchases in the first 90 days of account opening.
The main difference between the Bank of America® Customized Cash Rewards credit card and the BankAmericard is that the Customized Cash Rewards card earns 3% cash back in the eligible category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases. Like any cash-back card, this structure is more beneficial than BankAmericard’s lack of rewards.
Compare the BankAmericard® credit card With Other Cards
Is the BankAmericard credit card For You?
The BankAmericard does one thing and does it extremely well—provide a lengthy intro APR period on purchases and balance transfers. There’s not much reason to use this card after the intro period ends, but if you need a long window of no-interest breathing room, this card is well worth consideration.
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: U.S. Bank Visa® Platinum Card. The card details on this page have not been reviewed or provided by the card issuer.
