If you occasionally carry a credit card balance, you know the pain of paying high interest charges. But for people with great credit, high interest may be unnecessary. Enter the BankAmericard® credit card, a credit card with a 0% balance transfer introductory rate and low ongoing interest rates after that. Here’s what you need to know about the card to decide if it’s right for you.
BankAmericard® Credit Card: 0% introductory rate followed by low ongoing interest
The BankAmericard® credit card offers an introductory balance transfer APR of 0% on Balance Transfers for 18 billing cycles for balance transfers made in the first 60 days, and then the ongoing APR of 11.49% - 21.49% Variable APR. That means those with excellent credit will enjoy one of the lowest APRs in the industry. The BankAmericard® credit card has an annual fee of $0.EMV technology are more secure than magstripe cards because they transmit dozens of pieces of information between the card, terminal and acquiring bank’s host, while the magstripe processes limited data.
EMV technology is only useful if you use it properly. When shopping with retailers that accept EMV cards, don’t swipe. Insert your card into the terminal, follow the prompts and remove your card once the receipt starts printing.
Carrying a credit card balance shouldn’t be your norm
Even with a low interest rate when compared to the rest of the industry, you shouldn’t carry credit card debt from one month to the next. It’s the most expensive form of financing and you’ll be hard pressed to get a guaranteed stock market return higher than the rate you pay on any credit card. For these reasons, we encourage you to pay off your credit card every month.
As a rule, you should only put on your credit card what you can afford to pay off. However, if you go overboard one month, use these tips to earn more and spend less in order to reallocate funds to your credit card payment.
Man with credit card image via Shutterstock