Bank of America
BankAmericard® Credit Card
Key Features
| Annual Fee | $0.00 |
| Sign-up Bonus | No signup bonus |
| Rewards Rate | No rewards program |
| Intro APR | Introductory 0% APR for your first 21 billing cycles for purchases, and for any balance transfers made within 60 days of opening your account. |
| Regular APR | 15.24% - 26.24% variable |
| Other Fees | Balance Transfer Fee 5% of each transaction |
About this card
The BankAmericard® Credit Card is a highly specialized tool designed almost exclusively for debt consolidation and financing large purchases interest-free. Its primary strength, and indeed its most compelling feature, is the exceptionally long 0% introductory APR period of 21 billing cycles for both purchases and balance transfers. This, combined with no annual fee and no penalty APR, makes it an excellent choice for its specific niche, allowing cardholders to save significantly on interest. The fee structure is generally favorable, with no annual or foreign transaction fees, though the 5% balance transfer fee is on the higher side. However, the card has substantial drawbacks that prevent it from achieving a higher overall rating. Critically, it offers absolutely no rewards program or sign-up bonus, meaning its long-term value as a general-purpose spending card is non-existent. Furthermore, the regular variable APR can be quite high (up to 26.24%) after the introductory period, making it expensive if balances are carried. While its reputation is strong within its intended use, its lack of versatility and long-term benefits outside of debt management limits its overall appeal. Considering its outstanding utility for its specific purpose offset by a complete lack of rewards and high post-intro APR, an overall rating of 3.2 is appropriate, classifying it as a 'Good' card for a very specific financial strategy.
Pros & Cons
What's great
- No annual fee
- Intro APR period
- No penalty APR for late payments
Things to consider
- No rewards
- No sign-up bonus
- High regular APR
- High balance transfer fee
What this card offers
Other features
- No penalty APR. Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply.
- Access to credit education on topics like using credit cards responsibly, budgeting and more
- We block potential fraud if abnormal patterns are detected and let you know if we suspect fraudulent activity. Plus, you always get a $0 Liability Guarantee for fraudulent transactions.
- Balance Connect® for overdraft protection An optional service to help prevent declined purchases, returned checks or other overdrafts when you link your eligible Bank of America® checking account to your credit card. No transfer fees. Other fees may apply.
- Opt for paperless credit card statements and increase account security while reducing paper consumption.
- Discover more ways to pay by adding your Bank of America® credit card to your mobile device then shop in-store or in-app using Apple Pay®, Android Pay or Samsung Pay.
- Access to our award-winning Online and Mobile Banking. Bank on the go from almost anywhere quickly and securely. Pay your credit card bill online, transfer funds, check available credit and more.
- Stay on top of your balances and due dates. Choose from several types of customer email or text alerts and let your phone tell you when payments are due and paid.
Additional Notes
This online only offer may not be available if you leave this page, if you visit a Bank of America financial center or call the bank. You can take advantage of this offer when you apply now. Note: minimum payments are applied to lower-interest balances first. Additional payments are applied to higher-interest balances first.