BankAmericard Credit Card Review [2021]: The No-Fee Balance Transfer Card You Need

Balance transfer cards provide an opportunity to get out of debt, but is BankAmericard the right option for you?
Last updated Jun 3, 2021 | By Kevin Payne

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Earning rewards for credit card spending is great, but that’s not the only reason to get a new card. A decent balance transfer card can help improve your finances by providing an opportunity to pay off existing debt. With credit card debt on the rise, a card like the BankAmericard could be a valuable tool to get your finances back in order. Let’s take a closer look at this no-fee balance transfer card from Bank of America.

Pay No Annual Fee & No Interest for a Long Time!

BankAmericard Credit Card

BankAmericard Credit Card

BankAmericard Credit Card

Annual Fee

$0

Benefits and Drawbacks

Benefits

  • 0% introductory APR on purchases and balance transfers
  • FICO Credit score monitoring
  • No annual fee

Drawbacks

  • Does not earn rewards
Card Details
  • Long 0% APR period on purchases and balance transfers
  • Intro purchase 0% offer: 0% for 18 billing cycles then 12.99% to 22.99% (variable)
  • Intro balance transfer 0% offer: 0% on balance transfers requested within 60 days of account opening for 18 billing cycles then 12.99% to 22.99% (variable)

Who should get the BankAmericard?

BankAmericard is an excellent tool for people to use to pay off existing credit card debt. If you have lingering credit card debt with high interest charges from other cards, the BankAmericard can help you squash that debt without pesky charges.

With a 0% introductory APR for 18 billing cycles, new cardholders can transfer balances over and pay them off over time. Plus, there are no balance transfer fees charges on transfers made in the first 60 days from account opening. This card’s long intro period and $0 annual fee make it one of the better balance transfer cards out there.

The introductory period applies to purchases too. Anyone looking to make a large purchase can do so and pay it off over time without accruing any interest. Just make sure to pay off any purchases or balance transfers before the introductory period ends, which is when APR jumps up considerably.

Beyond its balance transfer perks, this BankAmericard card doesn’t offer much as a long-term credit card to own. It doesn’t earn rewards and it offers few travel perks besides free admission at select U.S. museums. If you are looking for a credit card to use for longer than the introductory APR period, other credit cards may be better options. Many no-fee credit cards offer similar intro APR offers while still earning valuable rewards. Although the primary goal of a balance transfer card isn’t to earn rewards, being able to do so could be a secondary goal.

Card basics

Card type Balance transfer
Card issuer Bank of America
Annual fee $0
Intro bonus Long 0% APR period on purchases and balance transfers
Recommended credit score Excellent, Good
Intro APR 0% APR on purchases for 18 billing cycles
Foreign transaction fee 3%

BankAmericard benefits and perks

  • Intro APR: Enjoy a 0% introductory APR for 18 billing cycles with the BankAmericard.
  • No annual fee: The BankAmericard has a $0 annual fee, which is perfect for someone looking to pay down debt, not add to it.
  • Access to FICO score: When you’re trying to pay down debt and build credit, it’s important to know where you stand. BankAmericard gives cardholders access to their FICO credit score for free online or through the Bank of America mobile app.
  • No-penalty APR: Sometimes credit cards will charge penalty APR if you fall behind on your payments. Typically this is higher than the APR on regular purchases. There is no penalty APR with the BankAmericard. 
  • Security: Stay safe with the BankAmericard. It offers fraud protection, including alerts to any suspicious spending patterns. Cardholders always receive a $0 liability guarantee for fraudulent transactions.

Drawbacks to the BankAmericard

  • No rewards: Cardholders do not earn points, miles, or cash back with the BankAmericard.
  • Credit score: In order to get approved for the BankAmericard, you need a good to excellent credit score. If your credit score is in the fair range, a different card would be a better option.

BankAmericard FAQs

What is the highest credit limit for Bank of America?

Unfortunately, credit limits aren’t published by Bank of America and depend on your creditworthiness. Getting a credit limit increase is relatively simple with Bank of America. Sign in to your online account and select the Information & Services tab. The info you see there will tell you whether you are eligible for a credit line increase. You can also call Bank of America’s customer service number located on the back of your card.

What credit score is needed for BankAmericard?

You need a good to excellent credit score rating to qualify for this card. Good credit scores fall within the range of 700-749. Your credit score is one of the deciding factors Bank of America will use to determine if you’re eligible for the BankAmericard.

Do balance transfers affect your credit score?

Anything that involves your credit could affect your credit score, at least temporarily. If you open a new card account to transfer a balance, there will be a hard credit inquiry, which can lower your score. Other factors that could make your score go up or down after a balance transfer include:

  • Credit utilization
  • Credit card account age
  • New card payments

Is BankAmericard a good credit card?

BankAmericard is a good credit card if you have existing credit card debt you want to pay off without worrying about interest fees and other charges. Once the 0% introductory APR period ends, there are few reasons to continue using the BankAmericard for spending. It offers no rewards and has limited perks. Other Bank of America credit cards may offer more benefits in the long run.

Other cards to consider

Another no-fee credit card to consider is the Amex EveryDay® Credit Card. It offers a 0% introductory APR for the first 15 months on purchases then 13.99% to 23.99% (variable) (See rates and fees). New cardmembers also earn 10,000 Membership Rewards points when they spend $1,000 in the first 3 months.

With the Amex EveryDay, you can earn 2X points per dollar (on the first $6,000 spent at U.S. supermarkets each year, after that 1X), and 1X on everything else. There is a $0 (See rates and fees) annual fee for the Amex EveryDay Credit Card. You can even earn 20% more points by using your card for purchases 20 or more times during a billing period.

Chase Freedom Flex is another option to consider if you’re looking for a good balance transfer card. It comes with a 0% introductory APR for 15 months on purchases. There’s a $0 annual fee and you can earn $200 cash back after spending $500 on purchases in the first 3 months, plus earn 5% cash back on grocery store purchases (not including target or walmart; up to $12,000 in the first year).  

Chase Freedom Flex cardholders earn 5% on Lyft rides (through March, 2022); 5% on rotating quarterly categories (on up to $1,500 spent) and travel purchased through the Chase Ultimate Rewards portal; 3% at restaurants (including takeout and delivery) and drugstores; and 1% on all other purchases.

Pay No Annual Fee & No Interest for a Long Time!

BankAmericard Credit Card

BankAmericard Credit Card

BankAmericard Credit Card

Special Offer

Long 0% APR period on purchases and balance transfers

See how these cards compare:

Amex EveryDay® Credit Card
Amex EveryDay® Credit Card
  • 2X points at U.S. supermarkets
  • 20% point bonus when you use your card 20 times in a billing cycle
  • No annual fee. Terms apply.
Chase Freedom Flex
Chase Freedom Flex
  • $200 sign-up bonus
  • Up to 5% cash back on spending
  • 5% cash back on grocery store purchases (up to $12k your first year)
  • Lyft and DoorDash perks

Author Details

Kevin Payne Kevin Payne is a freelance writer specializing in student loans, credit cards, personal finance, and travel. He is a regular contributor to Club Thrifty, Millennial Money, and Student Loan Planner. As the budget and family travel expert behind FamilyMoneyAdventure.com, Kevin recently turned his writing side hustle into his full-time career. He lives in Cleveland, Ohio, with his wife and four kids.