BankAmericard® credit card Review
If you are looking for a simple credit card that can help you build your credit history or reduce debt with the help of a balance transfer, the BankAmericard® credit card is a good choice.
While this credit card doesn’t come with any particular perks, it can be useful if your goal is to get out of debt and boost your credit score. It’s a simple, straightforward credit card with a great balance transfer offer and provides you with the convenience of having a credit card with no annual fee. Additionally, those with good credit can enjoy a low interest rate.
The BankAmericard® credit card
New cardholders can now earn a $100 statement credit online bonus after they spend $1,000 or more in purchases in the first 90 days of account opening. There is no rewards program with the BankAmericard® credit card. There is a 0% APR balance transfer rate for the 18 billing cycles, so if you have high-rate debt you want to consolidate, this credit card can be helpful.
- $100 statement credit online bonus after spending $1,000 or more in purchases in the first 90 days of account opening.
- $0 Liability Guarantee, so you’re not responsible for fraudulent charges on your account.
- Monthly FICO® Score for free.
- Balance transfer fee: $10 or 3% of each balance transfered, whichever is greater.
- Annual fee: $0.
- APR: 0% for 18 billing cycles for balance transfers made in the first 60 days, 12.99% - 22.99%, variable, after that.
The main benefit to the BankAmericard® credit card is the 0% introductory APR for 18 billing cycles for balance transfers. This is one of the longer introductory offers available. If you hope to reduce your debt, you can use the balance transfer offer to super-charge paying down your balance. You will pay off debt faster when a portion of your payment isn’t going toward interest. As long as you have a plan to pay off the debt within 18 billing cycles, this card can be a good choice.
Another benefit to this card is the 12.99% - 22.99% interest rate. This is a major credit card with the potential for a relatively low interest rate for those that qualify. If you know you might carry a balance for a couple of months, the potential low rate can be beneficial.
The BankAmericard® credit card can also help you build your credit history. As you use the card and pay it down, you will see an improvement in your credit score. Using this card responsibly, and working on other good habits, can help you boost your score into a higher range.
It’s nice that the BankAmericard® credit card offers the convenience of paying with plastic, and the Mastercard logo means that it will be accepted in many places all over the world.
The biggest drawback with the BankAmericard® credit card is the fact that there is no rewards program. While there is a statement credit online bonus for new cardholders, this card is not designed for someone who wants to earn points and is interested in a lot of perks.
The BankAmericard® credit card is a very straightforward offering. You won’t get any bells and whistles with this credit card. If you want help reducing your debt, and you want a long balance transfer intro period, this credit card can be a good choice. If you’re looking for a rewards program and special perks, you will need to apply for a different credit card. Consider your goals, and then decide whether or not to apply for this credit card.
First published , last updated
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.