2021 Review: BankAmericard® Credit Card – Great for Carrying a Balance
Credit Card Insider is an independent, advertising supported website. Credit Card Insider receives compensation from some credit card issuers as advertisers. Advertiser relationships do not affect card ratings or our Editor’s Best Card Picks. Credit Card Insider has not reviewed all available credit card offers in the marketplace. Content is not provided or commissioned by any credit card issuers. Reasonable efforts are made to maintain accurate information, though all credit card information is presented without warranty. When you click on any ‘Apply Now’ button, the most up-to-date terms and conditions, rates, and fee information will be presented by the issuer. Credit Card Insider has partnered with CardRatings for our coverage of credit card products. Credit Card Insider and CardRatings may receive a commission from card issuers. A list of these issuers can be found on our Editorial Guidelines.
The BankAmericard offers 0% introductory APRs for both purchases and balance transfers, giving you plenty of time to pay off big expenses or credit card debt. There are no rewards and few benefits, so if you don’t need to pay off a balance it might not be the card for you.
Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.
Our Rating: 5 Out of 5 Stars
We give the BankAmericard® Credit Card 5 out of 5 Stars. It’s an uncomplicated, no-frills card that can save you money with its introductory interest rates.
Why We Like It
- Long intro rate for purchases: 0% for 18 billing cycles, then 12.99%–22.99% Variable
- Long intro rate for balance transfers: 0% for 18 billing cycles, then 12.99%–22.99% Variable
- No annual fee
- Simple and easy to use
Why It Could Be Better
- No rewards
- Few benefits
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.
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 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|
|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
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.
Alternatives to the BankAmericard Credit Card
Citi is a Credit Card Insider advertiser.
Evan graduated from SUNY Oswego with a degree in journalism and creative writing. In his professional writing career, he strives for precision and comprehension in his work. He’s written news articles, blog posts, and copy, working across a slew of different mediums. With in-depth research and great care for accuracy and detail, he now works to bring you the most up-to-date credit information.
Do you have a correction, tip, or suggestion for a new post? Contact us here.
The responses below are not provided or commissioned by bank advertisers. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. It is not the bank advertisers' responsibility to ensure all posts are accurate and/or questions are answered.