Reviews BankAmericard credit card review

BankAmericard credit card review

Published: September 20, 2017
See Full Card Details
Advertiser Disclosure
Ratings Policy
Balance Transfer Rating:
3.8 rating
3.8 rating
3.8 / 5
Introductory Offer: 4.3
Net Value: 3.3
Features: 1.0

In a nutshell:

With a relatively low interest rate, a 0 percent fee on balances transferred in the first 60 days of card ownership and a lengthy interest-free balance transfer period, the BankAmericard credit card is a good choice for cardholders with hefty balances. 

Learn more about this card

0% Introductory Period
15 billing cycles

Transfer Fee
$0 for first 60 days of account of opening, 3% after

Introductory Purchase APR
15 billing cycles

Regular APR
12.99-22.99%

Annual Fee
$0

Other Notable Features: No penalty APR, mobile banking, text banking, private online shopping, overdraft protection, account alerts

If you have a sizeable amount of credit card debt and need some time to pay it down, the no-frills BankAmericard credit card could be just what you need to get rid of your debt for good. The BankAmericard gets high marks from us for its lengthy introductory balance transfer period and affordable APR. 

More time to clear your balance
The BankAmericard credit card gives cardholders up to 15 billing cycles to pay down qualified transferred balances without paying interest. To qualify, you have to transfer the balance within 60 days of opening the account. The length of the interest-free period is substantially longer than many balance transfer credit cards. Many cards offer only a 12-month introductory period or shorter. If your balance is especially large, those extra months can help you tamp down or even eliminate interest charges.

No fee balance transfer offer
The BankAmericard is one of few cards that allow you to transfer a balance without charging you a balance transfer fee. The card offers a 0 percent fee for balances transferred within the first 60 days from account opening (after that, the card charges a 3 percent fee, or a minimum of $10, for balance transfers). This is a good deal, which for a large balance could save you more than a hundred dollars.

Low standard APR
Compared to most balance transfer cards, the interest rate on the BankAmericard is fairly low. Cardholders with the best credit scores can qualify for an APR as low as 12.99 percent. Meanwhile, the maximum rate tops out at 22.99 percent, which is significantly lower than most other balance transfer cards. Also, cardholders are not charged a penalty rate for making a late payment, though those who pay late more than once within six billing cycles may be charged a hefty $38 late fee.

No rewards
The BankAmericard credit card is a plain-vanilla, low-rate credit card for cardholders focused on paying off their balances. This card won’t reward you for spending, so you’ll get more value if you use another card for new purchases.

Reasons to sign up for it:

  • You have a hefty balance and need up to 15 billing periods to pay it off.
  • You want a low regular interest rate.
  • You care more about paying down a credit card balance than earning rewards on your spending.

How to use it:

  • Pay down your card aggressively before the introductory period expires.
  • Don’t use your card for general purchases until you’ve paid off your transferred balance.
  • If you have multiple cards or loan balances, consider consolidating all your debt onto the BankAmericard so that you save money on interest and don’t have to keep track of too many balances.

Our reviews and best card recommendations are based on an objective rating process and are not driven by advertising dollars. However, we do receive compensation when you click on links to products from our partners. Learn more about our advertising policy

All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.

See Full Card Details