BankAmericard Credit Card Review

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Good for Balance Transfers BankAmericard® credit card
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BankAmericard® credit card
Editor’s Score: (3.9/5)
Learn more externa link icon At our partner’s secure site.
Good for Balance Transfers BankAmericard® credit card
Editor’s Score: (3.9/5)
  • Introductory balance transfer rate:
    0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A 3% fee (min. $10) applies.
  • Annual fee:
    $0
  • Regular APR:
    13.24% – 23.24% Variable APR on purchases and balance transfers
  • Recommended credit score:
    670-850 (Good to Excellent)

NextAdvisor’s Take

Pros
  • Lengthy 0% APR offer for purchases and balance transfers
  • No annual fee
  • $100 statement credit bonus
Cons
  • No ongoing rewards or benefits
  • 3% balance transfer fee (minimum $10)
  • 3% foreign transaction fees
The Bottom Line
The BankAmericard credit card* is a simple 0% interest card best suited for anyone looking to consolidate high-interest credit card debt from other cards or pay off an upcoming purchase over time. It doesn’t offer any rewards, but you can pay down your debt interest-free with one of the longest 0% introductory offers on the market.

Additional Card Details

  • $100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of account opening
  • Introductory 0% APR on purchases for 18 billing cycles, as well as on balance transfers made within 60 days of account opening (13.24%-23.24% variable APR thereafter)
  • 3% balance transfer fee (minimum $10)
  • FICO Score for free, updated monthly

Bank Americard Full Review

Card Type

The BankAmericard credit card is a 0% interest card with one of the longest introductory offers on the market for both new purchases and balance transfers. 

Annual Fee

The BankAmericard credit card has no annual fee.

Welcome Offer

You can earn a $100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of account opening. Welcome bonuses for 0% APR cards aren’t common, so this may be a big benefit if you’re looking to boost your card’s first-year value.

Rewards

The BankAmericard credit card doesn’t have any rewards structure outside of the 18-month introductory APR on purchases and balance transfers made within 60 days of account opening. 

Fees 

After the introductory period, your balances will take on a variable 13.24%-23.24% APR. If you choose to transfer a balance, you’ll pay a 3% balance transfer fee (minimum $10).

There’s no penalty APR, but if you pay late, you may be charged a fee up to $40. This card is also a poor choice for traveling abroad, since there’s a 3% foreign transaction fee on international purchases.

How to Use the BankAmericard Credit Card

To make the most of the BankAmericard Credit Card, determine how much debt you’d like to transfer, and move the balance to this card as soon as possible. The introductory APR offer only applies to balance transfers made within 60 days of opening your account.

How much you’ll save depends on how much debt you have, but consider this example: 

Imagine you have $4,000 in credit card debt on a card charging 21% APR. If you’re currently able to pay $225 per month, it would take 22 months to become debt-free, and you would fork over $834 in interest over that time. 

If you transfer that same debt balance to the BankAmericard Credit Card, you would automatically owe a 3% balance transfer fee ($120) and start your debt repayment process off owing $4,120. However, you could pay the same $225 per month and become entirely debt-free after 18 billing cycles (instead of 22) with $0 in interest payments. 

If you’re using this card’s intro period for new purchases, it’s also smart to make your large purchase soon after account opening, so you can take advantage of the full 18-month intro period to pay down the balance. Determine how much you need to pay each month to eliminate the purchase within the intro period, so you don’t start accruing interest later on.

While you are paying down a new or transferred balance, avoid using your BankAmericard on your regular spending. Unless you’re sure you can pay it off — in addition to the monthly payments required to eliminate your debt by the end of the intro period — adding to your debt balance could lead to more high-interest debt once the regular APR kicks in. 

Also take advantage of this card’s FICO score for free. Track and monitor your credit score as you pay down debt to see the progress you’re making and adjust your plan as needed.

BankAmericard Credit Card Compared to Other Cards

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BankAmericard® credit card

BankAmericard® credit card

Editor’s Score: (3.9/5)
  • Introductory balance transfer rate:
    0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A 3% fee (min. $10) applies.
  • Annual fee:
    $0
  • Regular APR:
    13.24% – 23.24% Variable APR on purchases and balance transfers
  • Recommended credit:
    670-850 (Good to Excellent)
  • Learn more externa link icon At our partner’s secure site
Learn More externa link icon
Citi Simplicity® Card

Citi Simplicity® Card

Editor’s Score: (4.0/5)
  • Introductory balance transfer rate:
    0% for 21 months on Balance Transfers
  • Annual fee:
    $0
  • Regular APR:
    15.49% – 25.49% (Variable)
  • Recommended credit:
    670-850 (Good to Excellent)
  • Learn more externa link icon At our partner’s secure site

Is the BankAmericard Credit Card Right for You?

BankAmericard can make a great option for anyone looking to kickstart their debt payoff, or for anyone looking to pay down a large purchase without interest over the next year. 

You’ll get 0% APR on purchases and on balance transfers made within 60 days of account opening for 18 billing cycles, 13.24% – 23.24% variable APR thereafter. That gives you up to a year and a half of pay down high interest debt you originally accrued on other cards. Just keep in mind that a 3% balance transfer fee (minimum $10) will apply.

This isn’t the longest intro period on the market, nor does BankAmericard have the lowest balance transfer fee. But 18 billing cycles is a generous repayment window and still among the best introductory offers currently available.

BankAmericard’s lack of rewards could be a potential downside if you’re looking for a 0% interest card you can use even after your debt is paid, but it’s not uncommon among balance transfer cards. Plus, a card that doesn’t reward your spending can be helpful while you’re in debt repayment mode. When you don’t have the chance to earn rewards on purchases you make, you can focus on debt repayment instead.

Pro Tip

If you’re considering the BankAmericard Credit Card because you want to consolidate debt, make sure to have a plan in place to pay off your balances before the 0% introductory APR offer ends. If you carry a balance beyond the introductory offer period, you’ll be charged interest at the regular variable rate, and can easily end up back where you started.

Frequently Asked Questions

What credit score is needed for the BankAmericard Credit Card?

You will need very good or excellent credit (a score of 670 or higher) for the best chances of approval for the BankAmericard Credit Card.

Is the BankAmericard Credit Card a good credit card?

The BankAmericard Credit Card is a good option for consolidating and paying down high-interest debt. The introductory 0% interest period on both balance transfers (made within 60 days of account opening) and new purchases lasts for 18 billing cycles, and there’s no annual fee.

Who should get the BankAmericard Credit Card?

Anyone who has high-interest debt to pay off should consider this card. The same is true for consumers who have some large purchases to make and could benefit from this card’s 0% introductory offer.

*All information about the BankAmericard credit card, AAdvantage® Aviator® Red World Elite Mastercard® and Citi Simplicity Card has been collected independently by NextAdvisor and has not been reviewed by the issuer.