BankAmericard Credit Card

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BankAmericard Credit Card

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  • 15 billing cycles to enjoy a 0% APR on any purchase transactions
  • 60 days 0% APR on Balance Transfers


 

  • No annual fees
  • No penalty fees for late payments


BankAmericard Summary

The BankAmericard Credit Card is from the most popular bank in the United States – the official Bank of America. This is a Balance Transfer credit card that is a good option to consider for people who have large sums of debt that they would like to pay off. A generous introduction offer is provided with the card for purchase transactions. An additional intro APR offer is available for Balance Transfers, but only for a relatively short period of time.

Issuing of the card is quite a convenient process, but there are certain minimum criteria that the applicant needs to meet before they will be able to take advantage of the offer. While there is no reward program attached to the BankAmericard Credit Card, the product does come with several benefits. Apart from the introductory offer, there are also no annual fees that need to be paid.

Following the initial introduction period, a variable APR will be applied to any transaction that is made using the credit card. Interest rates are added to Balance Transfer transactions following the first 60-day period. For purchase transactions that are made using this particular card, interest rates will only be applied from the 16th billing cycle.


PROS:
  • 15 billing cycles to enjoy a 0% APR on any purchase transactions
  • 60 days 0% APR on Balance Transfers
  • No annual fee

CONS:
  • Balance transfer 0% APR lasts only 60 days
  • No rewards program
  • High minimum credit requirement


Best Features

The 0% APR intro offer that is provided to the cardholder with the approval of a BankAmericard Credit Card is a very convenient feature. During the first 15 billing cycles, there are no interest fees charged on purchases. The added benefit of not having annual fees and no penalty fees should also be noted.


Drawbacks

The biggest drawback of the BankAmericard Credit Card is the short period during which the intro offer is in place for Balance Transfers. The fact that the interest rate charged following this period is variable also makes it difficult for the cardholder to have an accurate overview of added costs that will be charged on transactions.


Overall Summary

The BankAmericard Credit Card does offer a number of convenient features, such as an intro period that lasts for 15 months on all purchase transactions. The intro offer on Balance Transfers is on the shorter side, but still provides adequate time to transfer over a balance and cover existing debt. There are no annual fees to be concerned about, and general transaction fees charged on the card are also relatively affordable. The variable APR that is applied once the introduction offer expires, however, may be inconsistent.


Who this card is best for

The BankAmericard Credit Card is an affordable option for people who want to settle the existing debt that they may have but also doubles as an excellent option for those who frequently make purchase transactions with their card. Large sums of debt should ideally be settled soon after the card has arrived, as the intro period will only provide a 0% APR during the first two months.


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