BankAmericard Credit Card Review: Strong Balance Transfer Sign-Up Bonus

Overview of the BankAmericard Credit Card

The BankAmericard® credit card provides excellent financing options, featuring one of the longest introductory APR rates available for purchases and balance transfers. However, it lacks ongoing rewards and does not include a sign-up bonus. Card Rating*: ⭐⭐⭐

*The card rating reflects the views of TPG's editors and is not swayed by the card issuer.

The details for the BankAmericard have been independently gathered by Dinogo. The information on this page has not been reviewed or endorsed by the card issuer.

Life is full of unexpected turns. If you're facing debt from unforeseen expenses, there are resources available to help you regain control, including the BankAmericard. Although it may not be the flashiest credit card, it offers features designed to help you eliminate your debt gradually. Applicants who get approved typically have a credit score of at least 690.

Let’s examine who stands to gain the most from this card, as well as other alternatives that might be worth exploring.

Pros and Cons of the BankAmericard

BankAmericard Welcome Offer

The BankAmericard does not offer a welcome bonus, such as cash rewards or points.

At present, you can enjoy a 0% Introductory APR for 18 billing cycles on purchases and any balance transfers completed within the first 60 days of opening your account. Once the introductory period ends, a variable APR ranging from 16.24% to 26.24% will take effect. Additionally, there is a 3% fee on all balance transfers made during the initial 60 days; afterward, a 4% fee will apply to future transfers.

Benefits of the BankAmericard

The BankAmericard can help you steer clear of unwanted interest charges thanks to its introductory APR offer. Furthermore, cardholders will not face a penalty APR, which would normally raise your interest rate for late payments. Best of all, the BankAmericard comes with no annual fee, relieving you of that cost.

As you focus on financing or refinancing your debt, you'll gain access to Bank of America's comprehensive online banking tools, a complimentary FICO score feature, and various credit education resources.

Earning and redeeming rewards with the BankAmericard

The BankAmericard does not provide any rewards like cash back or points on purchases, which means there are no redemption options available either.

What cards are alternatives to the BankAmericard?

Multiple credit cards provide balance transfer offers at the time of account opening.

• If Citi is your choice: The Citi® Diamond Preferred® Card (see rates and fees) presents a 0% Intro APR for 21 months on balance transfers starting from the first transfer date, along with a 0% Intro APR for 12 months on purchases from account opening, transitioning to a variable APR of 17.74% - 28.49%, based on your credit profile. There’s no annual fee. For further details, check our full review of the Citi Diamond Preferred Card.
• If you lean towards Chase: The Chase Slate Edge℠ may suit those looking to manage balance transfers for debt reduction. It offers a 0% introductory APR on purchases and balance transfers for the first 18 months after account opening (then a variable APR of 19.99% - 28.74% applies). Cardholders may qualify for a 2% APR reduction when they pay on time and spend at least $1,000 by their next account anniversary. For more insights, see our full review of the Chase Slate Edge.
• If you wish to earn cash back: The Chase Freedom Flex® grants a cash back welcome bonus ($200 after spending $500 within the first three months of account opening) and a 0% introductory APR for 15 months on purchases and balance transfers. After that, a variable APR of 19.99% - 28.74% applies. Cardholders earn 5% on the first $1,500 spent in rotating categories each quarter (activation needed), 5% on Lyft rides (through March 2025), 5% on travel booked through Chase Travel℠, 3% on dining (including takeout and eligible delivery services), 3% on drugstore purchases, and 1% on all other transactions. For more details, check out our full review of the Chase Freedom Flex.

The information regarding the Chase Slate Edge has been independently compiled by Dinogo. The details on this page have not been reviewed or provided by the card issuer.

Is the BankAmericard a worthwhile choice?

The BankAmericard is among the most forgiving options available, designed specifically for consumers who currently carry credit card debt or have significant upcoming purchases they may not be able to pay off immediately.

Interest charges can accumulate rapidly if you can't settle your monthly credit card bills. However, by transferring your balance to the BankAmericard, you gain a fresh opportunity. You'll have extra time to concentrate on eliminating your debt without accumulating interest. Additionally, this card does not impose a penalty APR, so a late payment won't spike your interest rate.

Conclusion

The BankAmericard stands out as a reliable choice, particularly because of its introductory APR offer. If your main objective is to reduce debt, this card can aid you in crafting an effective credit strategy. While there may be other cards with longer introductory APR periods for purchases and balance transfers, it's essential to note that the BankAmericard does not impose a penalty APR for late payments. For individuals seeking to minimize interest expenses and tackle their debt, the BankAmericard is an excellent option.