BankAmericard®️ Credit Card Review [2022]: The No-Annual-Fee Balance Transfer Card You Need

Balance transfer cards provide an opportunity to get out of debt, but is the BankAmericard the right option for you?
Last updated June 30, 2022 | By Kevin Payne | Edited By Yahia Barakah

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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®️ Credit Card could be a valuable tool to get your finances back in order. Let’s take a closer look at this no-annual-fee balance transfer card from Bank of America.

Pay No Annual Fee

Annual Fee


Benefits and Drawbacks


  • FICO Credit score monitoring
  • No annual fee


  • Does not earn rewards
Card Details
  • $100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of account opening.
  • No annual fee.
  • No penalty APR. Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply.
  • Access your FICO® Score for free within Online Banking or your Mobile Banking app.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

In this BankAmericard®️ Credit Card review

Who should get the BankAmericard Credit Card?

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 rate charges from other cards, the BankAmericard can help you squash that debt without pesky charges.

With an introductory APR of See Terms that lasts for 18 billing cycles for any qualifying balance transfers made in the first 60 days (then See Terms APR), new cardholders can transfer balances over and pay them off over time. This card’s long intro APR 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 new purchase can do so and pay it off over time without accruing any interest. Just make sure to pay off any large purchases or balance transfers before the introductory period ends, which is when your APR would increase and shift to a variable APR.

Beyond its balance transfer perks, this BankAmericard credit 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 the best credit card to use for longer than the introductory APR period, other credit cards may be better options. Some of the best 0% APR 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 a rewards bonus, being able to do so could be a secondary goal.

Card basics

Card type Balance transfer
Credit card issuer Bank of America
Annual fee $0
Intro bonus Earn a $100 statement credit online bonus after spending $1,000 in the first 90 days of account opening
Recommended credit score Excellent, Good
Intro APR

See Terms APR on purchases for 18 billing cycles (then See Terms)

See Terms APR for 18 billing cycles for any qualifying balance transfers made in the first 60 days (then See Terms)

Foreign transaction fee 3%

BankAmericard benefits and perks

  • Intro APR: Enjoy a See Terms introductory APR on purchases for 18 billing cycles (then See Terms). You also get a See Terms APR for 18 billing cycles for any qualifying balance transfers made in the first 60 days (then See Terms).
  • 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 through the Bank of America online banking portal or the lender's mobile banking app.
  • No-penalty APR: Sometimes credit cards will charge penalty APR if you have late payments. Typically this is higher than the regular APR on 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 fraud liability guarantee for fraudulent transactions.

Drawbacks to the BankAmericard

  • No rewards: This card has no rewards program so cardholders do not earn points, miles, or cash back with the BankAmericard at gas stations, grocery stores, or any other place.
  • 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 the financial institution may 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 introductory APR period ends, there are few reasons to continue using the BankAmericard for spending. This credit card 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-annual-fee credit card to consider is the Amex EveryDay® Credit Card. This American Express card offers a 0% introductory APR for the first 15 months on purchases (then 13.74% to 24.74% (variable)). New cardmembers also earn 10,000 Membership Rewards points when they spend $2,000 in the first 6 months.

The Amex EveryDay is a cash rewards credit card. 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 annual fee for the Amex EveryDay Credit Card. You can even improve your rewards rate by earning 20% more points by using your card for purchases 20 or more times during a billing period.

Read our full Amex EveryDay® Credit Card review.

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 (then 15.74% to 24.49% (variable)) 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.  

Chase Freedom Flex cardholders earn 5% on Lyft rides; 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.

Read our full Chase Freedom Flex℠ review.

Pay No Annual Fee

Special Offer

Earn a $100 statement credit online bonus after spending $1,000 in the first 90 days of account opening

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
  • Perks from Lyft, HelloFresh, and more

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, Kevin recently turned his writing side hustle into his full-time career. He lives in Cleveland, Ohio, with his wife and four kids.