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Thursday, June 24, 2021
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Bank of America BankAmericard Credit Card Review

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Benefits

The BankAmericard credit card also has no penalty APR, which can kick in on other credit cards if you’re late on payments for a certain amount of time. You’ll also get access to your FICO credit score for free and pay no annual fee. You can create virtual card numbers when shopping online to keep your primary card number secure.

APR

The BankAmericard credit card offers an introductory 0% APR promotion on purchases and any balance transfers made within the first 60 days of opening an account. The promotional period is 18 billing cycles. After that, there is a 12.99% – 22.99% Variable APR on purchases and balance transfers. According to U.S. News research, the upper limit is slightly above the average for a 0% APR credit card.

If you plan to use the card to finance a big purchase or pay down high-interest debt from another card, try to pay the full balance before the promotional period ends to avoid interest charges on the remaining amount.

Annual Fee

The card doesn’t charge an annual fee, making it a little easier to maximize the value you get from its introductory APR promotion. Remember, though, that it’ll be tough to get tangible benefits from the card after the promotional period ends.

Also, keep in mind that the card has a balance transfer fee of 3% of the transfer amount or $10, whichever is greater.

Should You Get the BankAmericard credit card

  • Need an introductory APR promotion
  • Aren’t concerned with earning rewards
  • Want to avoid an annual fee
  • Seek extra security when shopping online

Questions About the BankAmericard credit card

Q: What Is the BankAmericard credit card?
A: The BankAmericard credit card is no-frills card with no annual fee.

Q: Is the BankAmericard credit card a Good Credit Card?
A: Cardholders who want to pay down balances or finance large purchases with no annual fee may find BankAmericard credit card valuable. But consumers seeking credit card rewards will be disappointed, as the BankAmericard credit card doesn’t have a rewards program.

Q: What Credit Score Is Needed for the BankAmericard credit card?
A: You’ll need a minimum 670 FICO credit score to qualify for the BankAmericard credit card, as it requires good to excellent credit.

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