BankAmericard® Credit Card: review

The main appeal of the BankAmericard® credit card is its low introductory APR offer: Get 0% introductory APR for 18 billing cycles for purchases and for any balance transfers made in the first 60 days.

If your top priority is to save money while financing a big-ticket expense or paying down credit card debt, the BankAmericard® credit card is an excellent choice.

Pros & Cons

Pros

• 0% intro APR offer on purchases and balance transfers
• No annual fee
• No penalty APR if you miss a payment
• Compatible with Apple Pay, Google Pay and Samsung Pay
• Free access to your monthly FICO® credit score from TransUnion
• New cardholder bonus offer

Cons

• No rewards program
• Ongoing APR for purchases and balance transfers after the promotion can be high
• Requires good/excellent credit

Rates, fees & offers

• Annual fee: $0
• Bonus offer: $100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of account opening.
• Intro APR: 0% intro APR for 18 billing cycles on purchases and on any balance transfers made within 60 days of account opening
• Ongoing APR
  APR: 12.99% – 22.99% Variable APR
  Penalty APR: None
  Cash Advance APR: 24.99%, Variable
• Balance transfer fee: Either $10 or 3% of the amount of each transaction, whichever is greater
• Foreign transaction fee: 3%

Review

Pay off debt for little additional cost

The BankAmericard® credit card offers a long 0% period, giving you more than a year’s worth of relief from interest if you’ve got high-interest debt weighing you down or a big purchase you need to make. The annual fee is $0, and the transfer fee is a reasonable 3% (with a $10 minimum).

No penalty APR

With the BankAmericard® credit card, your interest rate won’t go through the roof after a late payment, as the card doesn’t charge a penalty APR. You’ll still have to pay a steep late fee if you miss a payment, though. And if you’re more than 30 days late, your credit could take a hit. But the lack of penalty APR can give you some peace of mind, and potentially save you some money.

Sign-up bonus

Typically, cards that offer super-lengthy 0% intro APR periods (more than 15 months or so) do not also offer bonuses — their value is tied almost entirely to what they can save you, not what they can earn you. But with the BankAmericard® credit card, you’ll get a $100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of account opening.

It’s worth keeping in mind, though, that adding new transactions to a transferred balance can defeat the purpose of opening a balance-transfer card in the first place. Make sure you’re organized enough to keep track of (and pay off) those new purchases in addition to the transferred balance you’re working on.

How to request this card

Applying for a credit card is very simple and you can do it through the app or website. But you need:

• Social Security Number
• Gross income
• Employer name (if applicable)
• Rent/mortgage amount

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