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BankAmericard Review: Practically Perfect for Paying Down Debt

Balance Transfer Credit Cards, Credit Cards
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BankAmericard: About as Basic as It Gets

The plainest credit card Bank of America® offers just got a makeover.

The BankAmericard® credit card has punched up its balance-transfer benefits and can now claim a seat alongside other balance-transfer royalty. Once a rather lackluster card — it was even beige-colored for a while — it’s now one of the few that allow you to move debt and pay it down over time without a penny in interest or fees.

That makes this card an outstanding deal, if you can qualify for it. But for some, that’s a big “if”: The card requires good credit.

BankAmericard® Credit Card

BankAmericard® Credit Card

Apply Now on Bank of America's secure site
  • Recommended Credit Score
  • 690
    Good - Excellent
  • Card Details
  • Pros

    • No annual fee
    • 0% Intro APR for 15 billing cycles for purchases and qualifying balance transfers
    • $0 intro balance transfer fee for first 60 days. After that, the fee for future balance transfers is 3% (min. $10)


    • No rewards

    Annual Fees



    • APR: 12.99% - 22.99% Variable APR
    • Cash Advance APR: See Terms

    Bonus Offers


    Intro APR

    • 0% on Purchases for 15 billing cycles and 0% on Balance Transfers for 15 billing cycles for balance transfers made in the first 60 days
  • Additional Information
    • 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days, then 12.99% - 22.99% Variable APR
    • $0 Intro balance transfer fee during first 60 days of account opening. After that, the fee for future balance transfers is 3% (min. $10).
    • 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

Nerd tip

Consumers have often confused the various Bank of America® consumer credit cards. The BankAmericard® credit card, reviewed here, is different from the Bank of America® Cash Rewards credit card and the Bank of America® Travel Rewards credit card, both of which also had “BankAmericard” in their names until August 2017. These other cards offer rewards but aren’t as valuable for balance transfers. Before applying, double-check the card name and benefits.

Why you should get the BankAmericard® credit card

It can help you get out of debt without interest or fees

The revised BankAmericard® credit card offers these perks:

  • A $0 annual fee.
  • A generous 0% APR offer: You get an introductory rate of 0% on Purchases for 15 billing cycles and 0% on Balance Transfers for 15 billing cycles for balance transfers made in the first 60 days, and then the ongoing APR of 12.99% - 22.99% Variable APR. With a promotion for both purchases and balance transfers, you can use your “get out of debt” card for purchases, too, without racking up interest.
  • A way to avoid balance transfer fees. This card offers a $0 introductory balance transfer fee for the first 60 days your account is open. After that, the fee for future balance transfers is 3%, with a minimum fee of $10. If you transfer a balance during that 60-day window, this deal could save you hundreds of dollars right off the bat.

This card doesn’t offer rewards, but when you’re paying down debt, that’s not your primary concern — minimizing costs is. This card’s new features put it on par with the industry-leading balance transfer offers such as the Chase Slate®.

» MORE: Bank of America® credit cards mobile app review

It doesn’t charge A penalty APR 

With the BankAmericard® credit card, your interest rate won’t go through the roof after a late payment because the updated version of the card doesn’t charge a penalty APR.

You’ll still have to pay a late fee of up to $38 if you miss a payment. If you’re more than 30 days late on a payment, your credit could take a hit. But the lack of penalty APR can give you some peace of mind, and potentially save you some money down the road.

To see how this card compares with other balance transfer credit card options, see NerdWallet’s roundup of top rated credit cards.

Is the BankAmericard® credit card right for you?

Go ahead and move your debt over to the BankAmericard® credit card, if you can qualify for it. This card offers top-notch value for those paying down large balances.

Updated Sept. 20, 2017.

Claire Tsosie is a staff writer at NerdWallet, a personal finance website. Email: Twitter: @ideclaire7.