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Compare Credit Cards: BankAmericard Credit Card vs. Chase Freedom

June 1, 2018
Balance Transfer Credit Cards, Credit Cards, Low Interest and No Fee Credit Cards
Compare Credit Cards: BankAmericard Visa vs. Chase Freedom
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A 0% interest credit card may be right for you, if you want to make a large purchase but can’t or don’t want to pay it off in full right away. Let’s discuss two of your 0% financing options — the BankAmericard® credit card and Chase Freedom® — to find out which one is a better choice for you. And don’t forget, whichever card you go with, it’s important to pay off your balance in full before the introductory APR period expires.

At a glance
BankAmericard® credit card Chase Freedom®
Annual fee $0 $0
Balance transfer fee The fee for balance transfers is 3% (with a minimum of $10). 5%
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, and then the ongoing APR of 14.49% - 24.49% Variable APR 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 16.49% - 25.24% Variable APR
Rewards program None Cash back
Signup bonus None Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
Who would want each card?
Good for:
  • Someone who wants a low interest rate
  • Someone who wants rewards
  • Someone who wants a signup bonus
  • Someone who also has the Chase Sapphire Preferred® Card
Bad for:
  • Someone who wants rewards
  • Someone who may carry a balance and wants a low interest rate

 

BankAmericard® Credit Card vs. Chase Freedom®: The basics

The BankAmericard® credit card is a basic credit card with a long introductory balance transfer APR period and a low interest rate following that period’s expiration. The Chase Freedom® has an equally long introductory period, but a slightly higher interest rate. This card also offers 5% rewards on rotating categories and a generous signup bonus.

BankAmericard® Credit Card vs. Chase Freedom®: Rewards

The BankAmericard® credit card is not a rewards card. The Chase Freedom® offers 5% cash back rewards on rotating quarterly categories on up to $1,500 in spending per quarter. Any purchases beyond the $1,500 or outside the bonus categories will earn cash back at a rate of 1%. Here are the current bonus categories:

Chase Freedom® bonus rewards categories for 2018
Q1 2018 (Jan. 1 - March 31)• Gas stations
• Internet, cable and phone service
• Purchases via Chase Pay, Apple Pay, Android Pay and Samsung Pay
Q2 2018 (April 1 - June 30)• Grocery stores
• PayPal, for online, mobile or in-app purchases
• Chase Pay, for online, mobile or in-app purchases
Q3 2018 (July 1 – Sept. 30)• Gas stations
• Lyft
• Walgreens
Q4 2017 (Oct. 1 – Dec. 31)To be announced (in 2017: Walmart and department stores)

The Chase Freedom® has an awesome cash signup bonus: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Cardmembers can also earn up to 10% back in rewards when shopping online through the Chase Ultimate Rewards site.

BankAmericard® Credit Card vs. Chase Freedom®: Fees

The BankAmericard® credit card has an annual fee of $0 and foreign transaction fees of 3%. It comes with a 0% introductory APR balance transfer offer: 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 14.49% - 24.49% Variable APR.

The Chase Freedom® has an annual fee of $0 and foreign transaction fees of 3%. The card has an introductory APR of 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 16.49% - 25.24% Variable APR. You’ll pay balance transfer fees of 5% or $5, whichever is greater.

BankAmericard® Credit Card vs. Chase Freedom®: Additional benefits

The BankAmericard® credit card is a very straightforward card. No rewards, no frills. That said, it does have an impressive introductory APR period and potentially low interest rates for those with good credit.

The Chase Freedom® is best paired with the Chase Sapphire Preferred® Card. You can transfer your rewards earned on the 5% bonus category purchases to the Chase Sapphire Preferred® Card and use these points to book travel on the Chase Ultimate Rewards site at a rate of 1.25 cents for every point.

The bottom line: Should I get the BankAmericard® Credit Card or Chase Freedom®?

For most people, the Chase Freedom® is the superior choice. It offers rewards, an impressive signup bonus, a long introductory APR of 0% on balance transfers and purchases, and an annual fee of $0. It’s also a great card for those who already have the Chase Sapphire Preferred® Card.

The BankAmericard® credit card has a slightly lower ongoing interest rate, though we don’t encourage anyone to carry credit card debt from one month to the next, so that shouldn’t matter. In truth, the BankAmericard® credit card doesn’t stack up to the Chase Freedom® unless you’re planning on carrying a credit card balance.

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