2021 Review: BankAmericard® Credit Card &#8211; Great for Carrying a Balance

securely on the issuer's website

Highlights
Balance transfers
Fees

How to Transfer a Balance on a Credit Card

0% APR for purchases and balance transfers for 18 billing cycles made in the first 60 days. After the intro APR offer ends, 12.99%–22.99% Variable,
No balance transfer fee for the first 60 days; 3% fee (min $10) after that for all transfers
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

Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

Intro Balance Transfer APR0% for 18 billing cycles
Regular Balance Transfer APR12.99%–22.99% Variable
Balance Transfer Fee3%, $10 minimum

Fees

Penalty APRNone
Late FeeUp to $40
Returned Payment FeeUp to $29
Additional Cards Annual FeeN/A
Foreign Transaction Fee3%

The BankAmericard was the first personal credit card, issued back in 1958. While this card has the same name, the concept has come a long way since then. Now, it’s a great choice if you’re looking for a balance transfer or a way to avoid high interest rates on big purchases.

While it offers no rewards, it features long 0% interest periods for both balance transfers and purchases.

By transferring a balance from another card to this one, you can avoid paying interest charges as you pay it down. And by using this card for larger purchases like appliances or furniture (or just any purchase in general), you can pay them off while the balance accrues no interest for a set amount of time. Getting rid of debt can put you on track towards excellent credit.

Insider tip

If you’re a student, Bank of America offers the BankAmericard® Credit Card for Students. It’s pretty much the same card, but student cards are usually easier to be approved for.

Insider Advice: Getting the Most Out of Your Card

Use it to help finance some big purchases: Need a new TV? Home renovations on the horizon? If you’d struggle to pay for something all in one go, you can put it on the BankAmericard and pay for it over time at no extra cost.
Pay off credit card debt: If you’re carrying a balance on other credit cards and being charged interest, you can transfer those balances over to the BankAmericard and pay them down at 0% APR. You could save hundreds or thousands of dollars, depending on the balances involved. Just factor in the balance transfer fee to make sure it’s worth it.
Always make your minimum monthly payments, at least: Even if you use a 0% offer, be sure to pay at least the minimum due each month. If you miss a payment you could lose your 0% rate, besides getting late fees and potentially damaging your credit.
Pay off the balance by the time the 0% periods end: If you make some large purchases or perform a balance transfer, aim to pay off the card balance before the 0% rate ends. Divide your balance by the number of months you have left to pay; the answer should be your monthly payment (consider dividing by one fewer month, to make sure it’s paid off on time).

The Benefits

The primary focus of this card is to prevent you from paying needless interest on existing balances or new purchases. It doesn’t really offer much else, but some of its perks could prove useful in certain situations.

FICO Credit Score Monitoring: Use this card to monitor your FICO Score 8 over time, based on your TransUnion credit report.
$0 Fraud Liability guarantee: Protection against unauthorized charges; contact customer support immediately if you suspect fraud
Identity Theft Resolution: Services to help if you become a victim of identity theft
Contactless payment: No need to swipe or insert your card. Just hover over the card reader whenever you see the symbol.
Overdraft protection: Link your Bank of America account to the card to benefit from overdraft protection.

The Terms & Fees

Purchase APR	Balance Transfer APR	Cash Advance APR
0% for 18 billing cycles, then 12.99%–22.99% Variable	0% for 18 billing cycles, then 12.99%–22.99% Variable	15.99%–28.99% Variable

Annual Fee	Foreign Transaction Fee
$0	3%

Balance Transfer Fee	Cash Advance Fee
3%, $10 minimum	5%, $10 minimum

Penalty APR	Late Fee	Returned Payment Fee
None	Up to $40	Up to $29

The Bottom Line

The BankAmericard® Credit Card is a good offer if you’re looking to avoid paying interest for a while.

There isn’t a rewards program and it comes with few benefits, so unless you need to transfer a balance or make a large purchase, you won’t really get much out of this card. If you do need to take advantage of either promotion, it could be a good idea to pair it with a general rewards credit card so you can earn rewards while you save money from interest charges.

And if this isn’t the balance transfer credit card for you, there are plenty of others to choose from.

How Do I Apply for the BankAmericard?

To apply now for the BankAmericard, simply follow the link below. You’ll be directed to the credit card issuer’s site where you can fill out an application. You should typically hear back instantly unless Bank of America asks for additional information.

What Credit Scores Do I Need to Qualify for the BankAmericard?

The BankAmericard is designed for good credit — that typically means a FICO credit score of 670–739, or higher.

But this is just a rough guideline. You have a chance of being approved with lower credit scores, and a chance of denial with good or better credit.

Qualifications and Requirements

Must be 18 to apply
Personal information: SSN, email address, phone number
Financial information: Total annual income, source of income, monthly mortgage/rent payment

BankAmericard® Credit Card

Our rating:

securely on the issuer's website

Highlights
Balance transfers
Fees

How to Transfer a Balance on a Credit Card

0% APR for purchases and balance transfers for 18 billing cycles made in the first 60 days. After the intro APR offer ends, 12.99%–22.99% Variable,
No balance transfer fee for the first 60 days; 3% fee (min $10) after that for all transfers
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

Balance transfers

A balance transfer is a way to move debt from one card to another with the goal of saving money on interest.

Intro Balance Transfer APR0% for 18 billing cycles
Regular Balance Transfer APR12.99%–22.99% Variable
Balance Transfer Fee3%, $10 minimum

Fees

Penalty APRNone
Late FeeUp to $40
Returned Payment FeeUp to $29
Additional Cards Annual FeeN/A
Foreign Transaction Fee3%

Frequently Asked Questions

How do I log in to my BankAmericard account?

Just head over to Bank of America’s website and plug in your login information in the appropriate box. You’ll get to access your account and take advantage of your card features. From there, you can pay your bill and monitor your spending.

What rewards does the BankAmericard credit card earn?

The BankAmericard doesn’t offer any rewards. Instead, it’s a good card if you need to take advantage of a balance transfer or pay down a large purchase over time without worrying about interest charges.

What’s the BankAmericard’s credit limit?

Your credit limit will be determined by several factors. These include your credit scores, credit history, income, and more. If you’re not satisfied with your initial credit limit, however, you can request an increase.

Is there a BankAmericard EDD Card?

The BankAmericard isn’t currently offered as an EDD card. Instead, Bank of America features a different EDD debit card.

If you’ve experienced fraud related to a Bank of America EDD card, contact the bank. If you need additional tips, our guide about dealing with fraud and identity theft could be of some help.

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Alternatives to the BankAmericard Credit Card

U.S. Bank Visa® Platinum Card

Our rating:

securely on the issuer's website

Highlights
Why We Picked It
Key Features

0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 14.49% – 24.49%.
Great offer from U.S. Bank, a 2021 World’s Most Ethical Company® – Ethisphere Institute, February 2021.
No Annual Fee*
Flexibility to choose a payment due date that fits your schedule.
Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S.Bank Visa® Platinum Credit Card. Certain terms, conditions, and exclusions apply.

The U.S. Bank Visa® Platinum Card (Review) offers one of the longest 0% APR periods in the game.

You’ll have quite a bit longer than the BankAmericard to pay off any new expenses or old debts:

Purchase APR: 0% for 20 billing cycles on purchases, then 14.49% - 24.49%* Variable
Balance Transfer APR: 0% for 20 billing cycles on balance transfers*, then 14.49% - 24.49%* Variable

There aren’t any rewards with this card either, and the benefits are just as sparse, but you might find more value in them. The U.S. Bank card will likely come with a selection of Visa Platinum benefits, like cell phone insurance, which sound a bit more useful.

Because it’s a Visa Platinum, cardholders will likely get a selection of Visa Platinum benefits like shopping and travel protections, in addition to what’s listed below.

Monitor one of your credit scores: See your VantageScore 3.0 credit score based on your TransUnion credit report.
Cell phone protection: If your phone is damaged or stolen, you can file a claim to have it repaired or replaced. Call 1-866-894-8569 to file a claim. $600 per claim, two claims per year, for a total of $1,200.
Purchase APR: 0% for 20 billing cycles on purchases, then 14.49% - 24.49%* Variable
Balance Transfer APR: 0% for 20 billing cycles on balance transfers*, then 14.49% - 24.49%* Variable
Balance transfer fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
Annual fee: $0*

Wells Fargo Platinum card

Our rating:

How To Apply

Why We Picked It
Key Features

The Wells Fargo Platinum card (Learn More) (Review) is another card that forgoes rewards and instead features a long 0% intro APR offer for balance transfers and purchases.

Like the BankAmericard, its primary function is to help you avoid interest charges. If you need a bit more time to either pay down an existing balance or a large purchase, this card can help.

You’ll likely get better benefits with this card than the BankAmericard too. It has better protections and can still keep an eye on one of your credit scores.

Cell phone protection: Get insured for up to $600 in damages or for theft when you pay your monthly phone bill with the card; subject to a $25 deductible.
Travel protections: Rental car insurance, travel accident insurance, access to roadside dispatch, and travel and emergency assistance services
Purchase APR: 0% intro APR for 18 months from account opening, then 16.49%-24.49% Variable
Balance Transfer APR: 0% intro APR for 18 months on qualifying balance transfers, then 16.49%-24.49% Variable
Balance transfer fee: 3% intro for 120 days from account opening, then up to 5%; min: $5
Annual fee: $0

Citi Simplicity^® Card

Our rating:

securely on the issuer's website

Highlights
Why We Picked It
Key Features

No Late Fees, No Penalty Rate, and No Annual Fee… Ever
0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 14.74% – 24.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater.
The standard variable APR for Citi Flex Plan is 14.74% – 24.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion.
Stay protected with Citi® Quick Lock and $0 liability on unauthorized charges

The Citi Simplicity^® Card (Review) features fewer fees than most credit cards and a long 0% introductory APR.

The Simplicity boasts no late payment fee, penalty rate, or annual fee. So if you miss a payment, you won’t be immediately penalized like you would with other cards (but even if you don’t get a fee, late and missed payments can still severely damage your credit!).

You’ll also plenty of time to pay off a balance from a balance transfer, or from a large purchase, before either begins to accrue interest.

Free FICO credit score: Check your FICO Bankcard Score 8, based on your Equifax credit report.
Citi Easy Deals: Find discounts and special offers at nearby merchants; the more you spend with the card, the better the offers.
Citi Identity Theft Solutions: Citi can help prevent your identity from being stolen, and will help you recover if it does happen to you.
Purchase APR: 0% for 12 months, then 14.74% - 24.74% (Variable)
Balance Transfer APR: 0% for 21 months, then 14.74% - 24.74% (Variable)
Balance transfer fee: 5%, $5 minimum
Annual fee: $0

Citi is a Credit Card Insider advertiser.

Citi^® Double Cash Card - 18 month BT offer

Our rating:

securely on the issuer's website

Highlights
Why We Picked It
Rewards
Key Features

Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
To earn cash back, pay at least the minimum due on time.
Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% – 23.99%, based on your creditworthiness.
Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
The standard variable APR for Citi Flex Plan is 13.99% – 23.99% based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion

The Citi^® Double Cash Card – 18 month BT offer (Review) has an introductory APR for balance transfers, and earns rewards for everything you buy.

This credit card offers 1% cash back when you first make a purchase, and the other 1% once you pay it off (you must pay at least the minimum due to earn rewards).

This card isn’t a bad choice to pair with the BankAmericard, particularly if you plan on using the BankAmericard for a balance transfer. You can pay that balance down and use the Double Cash to earn rewards for your new purchases. The benefits aren’t much to speak of, but the balance transfer offer and the rewards for no annual fee are incentive enough to consider this card.

Spending Rewards
2% cash back for every purchase (must pay at least the minimum due on time): 1% back when you make a purchase 1% back when you pay for that purchase

Free FICO credit score: Keep tabs on your FICO Bankcard Score 8, based on your Equifax credit report.
Personal concierge service: Call 1-800-508-8930 to speak with your own personal assistant, for help with all kinds of non-emergency tasks.
Citi Private Pass: Get preferred access and presale tickets to select events and experiences, including music, sports, dining, and theater.
Quick customer service: Call customer support and say “representative” to be connected with a human rep more quickly than usual.
Balance Transfer APR: 0% for 18 months on Balance Transfers, then 13.99% – 23.99% (Variable).
Balance transfer fee: Intro fee 3% of each transfer ($5 min) completed within the first 4 months of account opening. After that, 5% of each transfer ($5 min).
Annual fee: $0

Citi is a Credit Card Insider advertiser.

BankAmericard® Credit Card

Our rating:

securely on the issuer's website

Highlights
Balance transfers
Fees