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BankAmericard® Credit Card

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The BankAmericard® Credit Card is a top choice, offering a way to move over existing debt and pay it off over the next year. While it lacks perks, this card's intro APR offer is a great way to pay off credit card debt interest-free.

A Good Balance Transfer Option

Using an intro APR offer to transfer credit card debt is a great way to pay off that debt interest free. The BankAmericard® Credit Card is a top choice for this, offering a way to move over existing debt and pay it off over the next year and a half.

Typically balance transfer cards don’t feature a list of perks you find with a travel rewards card. The BankAmericard® Credit Card is no different, with few redeeming qualities other than helping you save money and pay off debt. Check out our summary of the BankAmericard® Credit Card below to learn more about its benefits, its drawbacks and whether it’s worth a spot in your wallet.

Pros

  • Offers one of the longest 0% intro periods on balance transfers
  • No annual fee
  • No penalty APR

Cons

  • Doesn't offer any other perks

Balance Transfer Offer

As mentioned above, balance transfers during the first 60 days from card opening earn 0% APR for 21 billing cycles. Once the introductory period expires, a 16.24% - 26.24% Variable APR will be applied. Balance transfers are great for people with existing high-interest credit card debt they want to pay off while avoiding interest charges. For example, if you had $3,000 in charges on another credit card, you could transfer it to your new BankAmericard® Credit Card and pay off the balance over the next 21 months without having to pay interest. Interest charges are quite costly and make paying off debt more difficult.

Another cost you need to factor in is the balance transfer fee. The BankAmericard® Credit Card charges a balance transfer fee of 3% of the balance transferred over. If you transferred a $3,000 balance over to the BankAmericard card, you would end up paying $90 in balance transfer fees. Look at your existing card balances and interest charges to determine whether it's a better value to transfer over your debt and pay the fees or stay put.

With the BankAmericard® Credit Card, you can transfer balances through online access or the Bank of America mobile app. You’ll need to know your other credit card’s current balance and interest rate. You should also continue to make payments on the other card balance until it shows up on your BankAmericard® Credit Card account. Balance transfers typically take two weeks or longer to process. Also, note that you can’t use your BankAmericard card to transfer over balances from other Bank of America accounts.

Always read the fine print when performing a balance transfer. With most balance transfer cards, interest accrues on the transferred balance. If you fail to pay the entire balance off before the end of the introductory period, you'll be charged interest on the whole transfer balance, not just the remaining balance. Keep in mind that your credit limit may affect how much you can transfer over from another credit card.

Recommended Balance Transfer Credit Cards

Credit Card Intro APR APR Rewards Rate Learn More
Citi Diamond Preferred

Citi® Diamond Preferred® Card

0% for 21 months on balance transfers and 12 months on purchases More Info

0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 17.74% - 28.49%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.

17.74% - 28.49% (Variable) N/A
Citi Double Cash

Citi Double Cash® Card

0% for 18 months on Balance Transfers More Info

Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.74% - 28.74%, based on your creditworthiness.

18.74% - 28.74% (Variable) 2%Cashback More Info

Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25.

Wells Fargo Reflect® Card

0% intro APR for 21 months More Info

0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.74%, 24.24%, or 29.49% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min: $5.

17.74%, 24.24%, or 29.49% (Variable) N/A

Wells Fargo Active Cash® Card

0% intro APR for 12 months More Info

0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.74%, 24.74%, or 29.74% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.

19.74%, 24.74%, or 29.74% (Variable) 2%Cashback More Info

Earn unlimited 2% cash rewards on purchases.

Intro APR Offer

As mentioned, the BankAmericard® Credit Card comes with a long-term intro APR offer on both purchases and balance transfers. Cardholders have access to the introductory 0% APR for 21 billing cycles on purchases and balance transfers made in the first 60 days.

After the introductory period ends, a 16.24% - 26.24% Variable APR (based on creditworthiness) applies to purchases and balance transfers. Your creditworthiness determines your assigned regular APR.

Penalty APR

Another nice feature of the BankAmericard® Credit Card is that it doesn’t charge a penalty APR if you are late with a payment. Many card issuers automatically increase your interest rate if you’re late on your monthly payment by a certain number of days. There is no automatic rate increase with the BankAmericard® Credit Card.

Annual Fee

Fees, like an annual fee, can cut into the value offered by rewards credit cards. As mentioned, the BankAmericard® Credit Card offers no rewards and few benefits, but it also charges no annual fee. The card is specifically designed for individuals who want to transfer over existing credit card debt and pay it off over time.

Credit Score

Credit scores are one of the most important factors in determining the creditworthiness of a credit card applicant. Like most card issuers, Bank of America doesn’t display its credit requirements publicly. We recommend you have at least a good to excellent credit score when you apply. A good to excellent credit score is a FICO® Score between 670 and 850.

Always check your credit before you apply for a new credit card. If your score isn’t good enough to qualify, consider building up your credit score before you apply. Your credit score also helps determine the card’s interest rate.

Card Benefits

The BankAmericard® Credit Card isn’t considered a rewards credit card and offers few benefits, most of which are standard with most credit cards these days.

Liability Coverage

You are protected against fraudulent charges if your BankAmericard® Credit Card is lost or stolen.

Mobile Access

Cardholders can access their credit card account from anywhere in the world through Bank of America’s highly rated mobile app. The app is available for iPhone and Android.

Alerts

Another nice feature is that cardholders can set up text and email alerts through Bank of America.

Free Credit Score

Your BankAmericard® Credit Card also comes with free access to your FICO® credit score. You can access your free score via online access or the Bank of America mobile app.

Contactless Card

The BankAmericard® Credit Card is a chip-enabled card, but it also is a contactless card for added convenience.

Overdraft Protection

If you’re a BofA banking customer, you can protect your deposit accounts with overdraft protection through your BankAmericard® Credit Card. Then, if you overdraft on your deposit account, Bank of America automatically transfers over funds from your credit card account to cover the expenses. The transfer is treated as a cash advance and may be subject to additional fees.

Recommended Rewards Credit Cards

Credit Card Rewards Rate Annual Fee Intro Bonus Learn More

Chase Sapphire Preferred®

1x- 5xPoints More Info

Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.

$95 60,000Chase Ultimate Rewards Points More Info

Get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That’s worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year. Dollar Equivalent: $1,380 (60,000 Chase Ultimate Rewards Points * 0.023 base)

Chase Freedom Unlimited®

1.5% - 5%Cashback More Info

Enjoy 5% cash back on travel purchased through Chase TravelSM, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases

$0 1.5%Extra Cash Back More Info

Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That’s 6.5% on travel purchased through Chase TravelSM, 4.5% on dining and drugstores, and 3% on all other purchases.

Wells Fargo Autograph℠ Card

1x - 3xPoints More Info

Earn unlimited 3X points on the things that really add up - like restaurants, travel, gas stations, transit, popular streaming services, and phone plans. Plus, earn 1X points on other purchases.

$0 20,000Points More Info

Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value. Dollar Equivalent: $200 (20,000 Points * 0.01 base)

Citi Strata Premier℠ Card

1X-10XPoints More Info

10x on Hotels, Car Rentals, and Attractions booked through CitiTravel.com 3x -- Earn 3 Points per $1 spent on Air Travel and Other Hotel Purchases 3x -- Earn 3 Points per $1 spent on Restaurants 3x -- Earn 3 Points per $1 spent on Supermarkets 3x -- Earn 3 Points per $1 spent on Gas and EV Charging Stations 1x -- Earn 1 Point per $1 spent on All Other Purchases

$95 70,000Citi ThankYou® Points More Info

Earn 70,000 bonus ThankYou® Points after spending $4,000 in the first 3 months of account opening, redeemable for $700 in gift cards or travel rewards at thankyou.com. Dollar Equivalent: $1,260 (70,000 Citi ThankYou® Points * 0.018 base)

Rewards

The BankAmericard® Credit Card doesn’t earn any travel or cash back rewards on spending. If you're looking for rewards to sweeten the pot, you may be better off choosing a different card.

Fees

As mentioned earlier, the BankAmericard® Credit Card carries no annual fee. Unfortunately, it does charge another significant fee, especially if you are a frequent traveler — a foreign transaction fee. Foreign transaction fees are charged on purchases made outside of the country. The BankAmericard charges a 3% foreign transaction fee on all purchases made outside of the U.S or in a foreign currency. If you travel internationally, you’ll want to bring a different rewards credit card that doesn’t charge costly foreign transaction fees.

Below are some other fees you could see when using your BankAmericard® Credit Card:

  • Annual fee: No
  • Balance transfer fee: Yes
  • Foreign transaction fee: Yes
  • Cash advance fees: Yes
  • Late payment fees: Yes

Always read the terms and conditions for any credit card you are thinking about applying for so you're familiar with its fees.

Drawbacks

The BankAmericard® Credit Card is a decent balance transfer credit card, but it doesn’t offer many benefits beyond its intro APR offer.

Here are some of the drawbacks to consider before deciding if the BankAmericard® Credit Card is right for you.

  • No rewards: The BankAmericard® Credit Card doesn’t earn rewards for using the card for spending. It's not part of any Bank of America rewards program.
  • No travel perks: On top of no rewards, there are also zero travel benefits with the BankAmericard® Credit Card.
  • Foreign transaction fee: All international purchases made with your BankAmericard® Credit Card are subject to a 3% foreign transaction fee.

Bottom Line

If you have existing credit card debt and want to avoid costly interest charges, the BankAmericard® Credit Card is an excellent option. Other cards exist that offer introductory periods too, but the period on this card is pretty long, which might be a selling point. 

Before you apply, always read the fine print, paying attention to things like balance transfer fees and interest rates. Do the math to figure out if a balance transfer card makes sense for your situation.

Pay No Interest for a Limited Time

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Kevin Payne

Kevin Payne is a personal finance, credit card, and travel writer. He is the family travel and budget expert behind FamilyMoneyAdventure.com. Kevin lives in Cleveland, Ohio, with his wife and four kids. His work has appeared on several websites, including FinanceBuzz, Credit Karma, Millennial Money, Club Thrifty, Student Loan Planner and Slickdeals.