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BankAmericard Credit Card Review: Pros, Cons & Compare!

Published On January 8, 2024

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We have analyzed many balance transfer and low-interest cards with our years of experience in the economy and finance sector. BankAmericard was launched by Bank of America as the first consumer credit card in 1958.

It was also the first card to offer revolving credit. BankAericard became Visa in 1976, now it is a global corporation. Today in this article we are going to discuss in detail BankAmericard review.

Overview of BankAmericard

The BankAmericard credit card is a good choice to combine all your credit card debts. It will offer special low-interest rates when you first get the card, which is a great option for transferring balances or making new purchases. This card is especially useful if you need extra time to pay off your debts without accumulating more interest. 

However, you need to know that once your APR period ends, BankAmericard won’t be beneficial for you. If you are able to repay your debt in a short time, you may need to consider a cash-back card with a shorter low-interest period for better long-term value

CategoryBankAmericard Credit Card
Expert AssessmentDeemed unimpressive
0% APR Offer0% intro APR on purchases 
0% intro APR on balance transfers for 18 billing cycles
3 percent balance transfer fee applies
Variable APR ranging from 16.24 percent to 26.24 percent
Expert AssessmentConsidered good
Rates and FeesNo annual fee
3 percent balance transfer fee
3 percent foreign transaction fee
No penalty APR
Expert AssessmentEvaluated as good
Other Cardholder PerksBankAmeriDeals
Free monthly FICO® Score
Museums on Us®
Expert AssessmentRegarded as unimpressive

Why do You Need BankAmericard?

Maximum Time to pay off your debt:

The BankAmericard stands out for those wanting ample time to repay debts. This will offer you an extended intro APR period for both purchases and balance transfers.

The ongoing interest will be more forgiving compared to other cards available in the market.

Intro APR offer

BankAmericard provides a significant timeframe to manage your debt without accruing additional interest. This extended offer is beneficial for you for financing purchases or implementing a strategic debt pay-off plan.

Also, note that the intro APR offer for balance transfer has been reduced compared to few other cards which are now offering longer duration. 

Interest Rate Advantage

In this current economy of rising credit card interest rates, BankAmericard offers a below-average ongoing variable APR, which provides relief for cardholders.

Despite no rewards, it will serve as an excellent option for those who are seeking a low-interest credit card beyond the intro period.

Consideration of Rewards and risks

While some of the low-interest cards may have higher ongoing APRs, they often provide you with rewards and cash back.

BankAmericard’s simplicity becomes advantageous for the user, especially when the accumulated rewards may lead to overspending which increases credit card debt.

No-frills saving with low-interest rates

If you want a simple and uncomplicated way to save, BankAmericard provides you with its low interest rates, which can be an ideal choice for you. To make the most out of the intro APR benefits, we advise you to pay off the balance before the introductory period ends.

You can use tools like Bankrate’s balance transfer calculator to determine your monthly payments for effective debt management.

Is the Wells Fargo Reflect Card familiar to you? It’s revolutionary for cost management. The benefits are incredible!

Do you Need a Different Balance Transfer Card?

Yes, some may consider a different balance transfer card other than Bank Americard. The BankAmericard is the best option for those who prioritize debt payment during the intro APR period.

However, its value will diminish post-intro period, which offers a small amount of incentives for balance transfers and new purchases. The card provides no rewards, welcome offers, points, or miles rewards, which may make it unsuitable for those who want benefits beyond a low-interest period. BankAmericard doesn’t aim to be a reward-focused card. So it is not an ideal choice for rewards enthusiasts.

After the intro APR ends, the BankAmericard may not be very useful for balance transfer and it will lack incentives for new purchases. Although closing the card after paying off debt may seem attractive, but keeping it open can positively impact your credit profile.

If you travel abroad, then the BankAericard is not a good choice due to its 3% foreign transaction fee. You can consider travel or reward cards without foreign transaction fees for foreign use, but they may also come with slightly higher APRs.

The BankAericard will offer minimal perks, with the Museums on Us program which provides you free museum admission during the first weekend of every month. You will get other deals such as BankAmerideals and a free monthly FICO score.

Compare BankAmericard to Other Cards

BankAmericard is a good option for paying your debt off and financing your big purchase. But note that it is not the only option for you. You have to decide on your card depending on what you need. Let us compare some other options with BankAmericard.

Credit CardAnnual FeeIntro OfferRewards RateRecommended Credit ScoreBankrate Score
BankAmericard® Credit Card$0N/AN/AGood to Excellent (670 – 850)4.4 stars out of 5
Citi Simplicity® Card$0N/AN/AGood to Excellent (670 – 850)4.5 stars out of 5
Discover it® Balance Transfer$0Cashback Match™1% – 5%Good to Excellent (670 – 850)4.6 stars out of 5

BankAmericard vs. Citi Simplicity Card:

Both of these credit cards have no annual fee, no rewards, and no sign-up bonus. They’re pretty similar there.

Now, let’s talk about interest rates. The BankAmericard® gives you 0% interest for the first 18 billing cycles for purchases and balance transfers made in the first 60 days. After that, it’s somewhere between 16.24% to 26.24% interest.

On the other hand, the Citi Simplicity® Card gives you 0% interest for 21 months on balance transfers and 12 months on purchases. After that, it’s between 19.24% to 29.99%.

Which One’s Better?

  • If you want it for making purchases, both are good.
  • If you’re transferring a balance, the Citi Simplicity® Card is a bit better because it gives you more time with 0% interest and a longer window to make the transfer.

Now, about the fees:

The BankAmericard® credit card usually has a 3% fee for balance transfers, but sometimes they offer a $0 fee for the first 60 days. Citi Simplicity® usually has a 3% fee for transfers within the first 4 months, then it goes up to 5%.

So, if you can snag that $0 transfer fee with BankAmericard®, great! But even without it, it might still be cheaper for larger transfers.

Lastly, late payments. With the BankAmericard®, they won’t raise your interest rate if you’re late, but they hit you with a hefty late fee. Citi Simplicity® doesn’t charge late fees, and there’s no penalty interest rate for paying late.

Which One Should You Get?

  • If you’re forgetful, Citi Simplicity® might save you money on late fees.
  • If you’re after a 0% intro period for purchases, either card works.
  • If you’re transferring a balance, consider the fees and how quickly you can pay it off. If you can do it in less than 18 billing cycles, go for the BankAmericard®

BankAmericard vs. Discover it Balance Transfer:

BankAmericard has a longer intro APR period for purchases. Discover it will offer you a great rewards structure with Cashback Match and a rotating cash back calendar. BankAmericard is better for those who need finance for new purchases, while Discover provides greater long-term value with rewards.

  • If you are focused on Debt Management: BankAmericard is a better
  • For Long-term value and rewards: Discover it Balance Transfer is preferred.

Is the U.S. Bank Visa Platinum Card familiar to you? It provides excellent benefits like reduced APR and cash back.

Pros and Cons of BankAmericard

– Both purchases and transfers covered by intro APR– Long-term value affected by absence of rewards and late fee waivers
– Ongoing APR lower than many competitor cards– Not ideal for international purchases due to foreign transaction fee
– No penalty APR– Limited extra benefits beyond standard Bank of America perks

Is this BankAmericard worth it?

The BankAmericard credit card is a good option if you are looking for a decently long intro APR period to tackle your balance. However, it lacks rewards and other unique features compared to other balance transfer cards. It normally stands out for its potential low ongoing APR.

Even after you have paid off your balance, you can keep BankAmericard, which will be worth it due to its advantageous ongoing APR.


The BankAmericard is a great credit card option for those who are looking to consolidate debt or finance large purchases. Thanks to its 0% introductory APR period on both balances and purchases. But your card won’t get ongoing rewards or notable perks, which makes it less attractive for long-term use. Remember that you have to choose a card that solely depends on what you need. You can even compare other cards available on the market, so you can have optimal benefits. We hope this article has given you meaningful insights regarding BankAmericard. Double-check before you select your card.


What are the ongoing APRs after the end of the Intro period?

The ongoing APR for purchases and balance transfers is 16.24% to 26.24% variable APR.

Do you earn any rewards with BankAmericard?

No, BankAmericard does not earn any reward such as cashback or travel points.

Is there a transaction fee for foreign use?

Yes, you will charge a 3% foreign transaction fee which is applied to purchases made outside of the U.S.

What if I spend more than my credit limit but quickly pay it back?

If you go over your credit limit and promptly pay it off, you could still encounter problems like extra charges and a drop in your credit score. Here are some possible issues: Over limit fees: Your credit card company might make you pay a fee for exceeding your credit limit, even if you settle it immediately.

Wondering how to snag that $200 from your Bank of America credit card?

If you’re a new cardholder, here’s the deal that You can score $200 cash back by splurging $1,000 or more on your card within the initial 90 days of opening your account. Once you meet the criteria, you can expect the bonus to pop up in your rewards balance around eight to 12 weeks later.

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