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Apply online for BankAmericard® credit card

BankAmericard® review: A best 0% APR credit card winner

Excellent/Good

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What Bank of America says about this card

Apply online for BankAmericard® credit card
  • 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 14.49% - 24.49% Variable APR will apply. A 3% fee (min $10) applies to all balance 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

By Jennifer Doss CardRatings Editor  Updated Dec 19, 2019

BANKAMERICARD® BALANCE TRANSFER

The BankAmericard® credit card is a no-frills card which allows cardholders to focus on the basics of card membership: how to use a credit card and make timely payments each month.

The most attractive perk of the BankAmericard® is its lengthy intro 0% APR period for purchases and balance transfers. At 18 billing cycles for purchases, and for any balance transfers made in the first 60 days, this is one of the longest offers out there, landing the BankAmericard® a spot on our editor's choice best credit cards of 2020 list. After the introductory period, 14.49% - 24.49% Variable APR on purchases and balance transfers and balance transfers will apply. (Note: each balance transfer carries a fee. Either $10 or 3% of the amount of each transaction, whichever is greater. )

Other BankAmericard® best features include:

  • No annual fee.
  • No penalty APR. Paying late won't automatically raise your interest rate. Other account pricing and terms apply.
  • Access your FICO® score for free within the Bank of America online banking app, or your mobile banking app.

CardRatings Editor's Analysis: Pros & Cons

  • Save with introductory 0% interest on purchases and on balance transfers made within the first 60 days for the first 18 billing cycles (then, 14.49% - 24.49% Variable APR on purchases and balance transfers and balance transfers).
  • With its text-banking feature, this no-annual-fee card is perfect for someone who wants to stay in control of their credit-card usage.
  • Rest assured with fraud liability protection.
  • This no-frills card does not offer rewards for cardholders, but that isn't unusual for a balance transfer-focused card.

POTENTIAL DOWNSIDE: NO BANKAMERICARD® CASH REWARDS

Perhaps the biggest drawback of the BankAmericard® credit card is its lack of rewards. There is no signup bonus nor any ongoing rewards to take advantage of. Once the introductory APR has run out, this card doesn't offer anything in the way of rewards earning. If you don't NEED the introductory balance transfer or purchase offer, you'd probably be better off with a card that offers you some rewards-earning opportunities.

Cardholders will be pleased to know though that Bank of America has been repeatedly recognized for its fraud prevention, detection and resolution by consumer advocacy groups. Plus, this card offers a $0 liability guarantee, so in the event someone steals your credit card, or uses your account information to make unauthorized purchases, you won’t be on the hook. Text banking also makes managing finances easier, especially if you’re new to using a credit card. Send a text message to Bank of America and you’ll get an immediate reply with details on account balances, recent transactions and a searchable transaction history. This is a great way to keep your spending in check.

These are great perks, but also are not super unique, so again, if you're not looking to transfer a large balance or for some extra time to pay off purchases and debts, you might want to consider a rewards-earning credit card. We compare a few notable options below.

HOW THE BANKAMERICARD® COMPARES TO OTHER CREDIT CARDS

BankAmericard® vs. Bank of America® Cash Rewards

Another solid option in the Bank of America family, but one that offers rewards (both a welcome bonus as well as ongoing rewards), is the Bank of America® Cash Rewards credit card. This card offers a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening, plus 3% cash back in the category of your choice. Yes— in the category of your choice! (Between these six categories: gas, online shopping, dining, travel, drug stores or home improvement/furnishings.) Beyond that, you'll earn 2% back at grocery stores and wholesale clubs up to $2,500 in combined choice category/grocery store/wholesale club spending each quarter, then 1%. You'll also earn unlimited 1% on all other purchases falling outside of the bonus categories. You can update your choice category for future purchases once each calendar month using the mobile banking app or online banking, or do nothing and it stays the same. Plus, if you're a Preferred Rewards client with the bank (based on your three-month average daily balance across qualifying accounts), you can earn 25%-75% more cash back on every purchase depending on your tier.

The Bank of America® Cash Rewards credit card also offers an intro 0% APR period. At 15 billing cycles for purchases, and for any balance transfers made in the first 60 days, this offer isn't quite as strong as the BankAmericard® offer, but it's close. After the intro period, a 15.49% - 25.49% Variable APR on purchases and balance transfers and balance transfers will apply. (Note: each balance transfer carries a fee. Either $10 or 3% of the amount of each transaction, whichever is greater.)

The Bank of America® Cash Rewards credit card also has no annual fee, so if your decision comes down to these two options, the biggest thing you'll have to consider is what's more important? Three extra months of 0% APR, or ongoing rewards?

BankAmericard® vs. Citi Simplicity® Card

Citi is a CardRatings advertiser.

For a very similar no-frills balance transfer credit card, the Citi Simplicity® Card - No Late Fees Ever is worth considering. Like the BankAmericard®, the Simplicity® card has no annual fee so there are no out of pocket costs for holding either of these cards. Both the BankAmericard® and Citi Simplicity® cards are straightforward non rewards-earning credit cards. Where the Simplicity® card sets itself apart is that there are no late fees charged so you won’t be charged a penalty fee if you pay a bill late.

Both cards have generous intro 0% APR offers on purchases and balance transfers. The Simplicity® card has a slight advantage here on balance transfers, with the introductory 0% APR period lasting a whopping 21-months (from the date of first transfer - all transfers must be completed within the first four months), though the period for purchases is a bit shorter than BankAmericard®, at 12 months (then 16.24% - 26.24% (Variable) APR).

BankAmericard® vs. Chase Freedom®

If you need to consolidate some existing credit card debt as you work to pay it off, an introductory balance transfer offer can be a benefit to consider in a new card. Both the Chase Freedom® and BankAmericard®, in addition to sharing $0 annual fees, have great 0% intro APR offers on not just balance transfers, but new purchases as well. New cardholders are offered a 0% intro APR on purchases and balance transfers for 15 months with the Freedom® card, then a 16.49% - 25.24% Variable APR. The BankAmericard® has the advantage here offering an introductory 0% interest on purchases and on balance transfers made within the first 60 days for the first 18 billing cycles.

The Freedom® card from Chase offers a number of benefits that the BankAmericard® cannot match, though, including uncapped cash-back rewards earning potential and a generous new cardholder bonus. With the Freedom® card you can earn 5% cash back on up to $1,500 in combined purchases in rotating bonus categories each quarter you activate as well as unlimited 1% cash back on all other purchases. Chase Freedom® is also offering new cardholders a $150 cash-back bonus for spending $500 within the first three months of account opening.

Top Features

Balance Transfer Intro Balance Transfer Fee Regular APR
APR: 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days
Period: 18 billing cycles
Either $10 or 3% of the amount of each transaction, whichever is greater. 14.49% - 24.49% Variable APR on purchases and balance transfers

IS BANKAMERICARD® A GOOD CREDIT CARD?

The BankAmericard® credit card is designed for people who need a quick balance transfer and time to pay off that balance interest-free rather than those who want to amass rewards. It's a great option if you're trying to avoid paying interest but had an unexpected expense that you need to make or have already made and now need to transfer. You'll get just the basics with this card, but that may be all you need.

BankAmericard® credit card compared to other balance transfer cards

Card Name
Balance Transfer Intro APR
Balance Transfer Fee
Regular APR
Ratings/Apply
APR: 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days
Period: 18 billing cycles
Either $10 or 3% of the amount of each transaction, whichever is greater.
14.49% - 24.49% Variable APR on purchases and balance transfers
APR: 0%
Period: 21 months
5% of each balance transfer; $5 minimum.
16.24% - 26.24% (Variable) 
APR: 0%
Period: 18 months
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
13.49% - 24.49% Variable 

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