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The BankAmericard® credit card stands out for its 18 billing cycles of 0% intro APR on purchases and balance transfers. This provides over a year of interest-free financing on new purchases or existing balances you transfer.
The BankAmericard® card is a no-annual-fee credit card focusing squarely on flexible financing options. Its headline feature is an 18-month 0% introductory APR period for purchases and qualifying balance transfers made in the first 60 days. This gives you well over a year to pay off transferred debt or finance a large purchase interest-free before the regular APR kicks in.
Benefits of BankAmericard Credit Card
The impressive selection of benefits tempts anyone to go ahead with this card. Here are the ley benefits that you can receive if you get this card.
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- 0% intro APR for 18 billing cycles on purchases;
- 0% intro APR for 18 billing cycles on balance transfers made in the first 60 days;
- No annual fee;
- Access to free FICO® Score through online/mobile banking;
- No penalty APR spike for late payments;
- Contactless chip technology.
The card does not offer any traditional rewards on spending. Its value comes from temporary 0% financing rather than cash back or points. After the introductory offer ends, the regular APR is a variable 16.24%-26.24%.
Prerequisites
The BankAmericard® credit card requires applicants to have good to excellent credit to qualify. Recommended credit scores are 690 and above for approval odds. This falls under the “fair” to “very good” categories according to standard FICO ranges. Having an existing banking relationship with Bank of America, such as a checking, savings, loan or investment account can also improve your approval chances.
Meeting these qualifications shows lenders your creditworthiness and that you have the income and assets to manage ongoing balances responsibly. That being said, even if you have less-than-perfect credit, you may still be approved for the card with a lower credit limit granted. Regular and on-time minimum payments can then help strengthen your credit standing over time for future credit decisions.
Before applying, check your credit reports and FICO score through major bureaus like Equifax, Experian and TransUnion to understand your current rating. This will give you an idea of approval likelihood. Having good organizational habits with finances also prepares you to properly leverage the benefits of the BankAmericard card.
PRESS HERE TO APPLY TO BANKAMERICARD MASTERCARD
About Bank of America
Bank of America Corp is a massive multinational investment bank and financial services corporation. It is the second largest bank in the U.S. by assets and one of the “Big Four” consumer banking institutions, alongside Chase, Wells Fargo and Citibank.
Founded in 1904, Bank of America has expanded through numerous mergers, acquisitions and rebranding over its 100+ year history. Today it offers consumer banking, wealth management, and investment banking services to over 66 million customers globally. Bank of America operates over 4,300 retail branches and has 16,000+ ATMs across the United States.
In 2022 it reported over $2.8 trillion in assets under management, highlighting its status as a banking powerhouse. Offering the BankAmericard® credit card is one small part of Bank of America’s sprawling financial services empire.
Who is this card for?
The BankAmericard® card is best suited for people with good to excellent credit seeking an affordable way to finance major purchases or consolidate existing credit card balances. Its lengthy 18-month 0% intro APR offer makes it valuable for saving money on interest, rather than earning rewards.
It appeals to those with credit scores of 690 and above who carry balances or have big purchases approaching. The 0% intro offer lets you avoid interest for over a year, freeing up cashflow. It also helps establish positive history for building credit. This card fits well with existing Bank of America customers seeking financing.
Step by step to apply for the BankAmericard®
You can apply for the BankAmericard® credit card by following these steps:
- Go to the official BankAmericard® application page;
- Click “Apply Now”;
- Provide personal details including your name, address, date of birth, Social Security Number;
- Review terms and conditions, then agree to application;
- Submit application for review;
- Check email inbox for application decision once received.
The Bank of America app can also be downloaded for iOS and Android to manage the card.
PRESS HERE TO DOWNLOAD THE BANKAMERICARD MASTERCARD MOBILE APP ON IOS
PRESS HERE TO DOWNLOAD THE BANKAMERICARD MASTERCARD MOBILE APP ON ANDROID
Positives and negatives
The BankAmericard card certainly has some excellent perks that make it worth considering, especially for those needing an extended interest-free loan or debt consolidation tool. The headline features are its 18 billing cycles of 0% introductory APR on both new purchases and balance transfers from other credit cards. This provides over a year of financing without interest charges accruing to lower monthly payments. Additional handy benefits are no annual fee, free access to your FICO credit scores, contactless payment capabilities, and no penalty rate hikes for late repayments.
However, there are some clear downsides after the lengthy intro period ends. First, there is no rewards program for earning cash back or points on spending. There is also a 3% balance transfer fee imposed to consider. While there’s no late payment penalty APR, the regular variable interest rate is still relatively high at 16.24%-26.24% for any carried balances once the 0% introductory offer expires. And you’ll need a good FICO score over 690 to qualify initially. But if you stay organized with payments and avoid paying interest, the upfront intro savings are sizable.
While light on perks and rewards compared to other cards, the BankAmericard® delivers value by letting you save substantially on interest for over a year. Just be sure to pay off balances before the 0% rate expires.
How to unlock the BankAmericard® credit card
Follow these steps when you receive your new BankAmericard® credit card:
- Activate your card by calling the number on the sticker on your card or by logging in online and selecting “Activate Credit Card”;
- Set your personalized 4-digit PIN by calling or logging in to your account;
- After activation, you can immediately begin using the card at ATMs or retailers.
Once unlocked and activated, your credit card can be used anywhere Visa is accepted worldwide, both online and in-person.
Fees & Costs
- Annual Fee: $0
- Balance Transfer Fee: 3% (min $10)
- Cash Advance Fee: 5% (min $10)
- Foreign Transaction Fee: 3%
The most important fees to note are the 18-month long 0% intro APR on purchases and balance transfers made in the first 60 days. After the intro period ends, the regular variable APR will be 16.24%-26.24% based on your creditworthiness.
This means no interest for over a year on new purchases or balance transfers, but relatively high variable rates after the intro period expires. Manage balances responsibly once intro APR ends to avoid heavy interest charges.
BankAmericard® Customer Service
Bank of America has over 4,300 branch locations and 16,000 ATMs which also provide in-person banking support countrywide.
Contact BankAmericard® customer service or visit a branch for questions or support regarding the credit card, managing your account, requesting a credit line increase or balance transfer options.
