BankAmericard bank card overview
The BankAmericard® bank card presents promising financing, permitting you to repay your debt with one of many longest introductory APR charges on purchases and steadiness transfers we have seen. This card, nevertheless, would not supply any ongoing rewards nor embrace a sign-up bonus. Card ranking*: ⭐⭐⭐
*Card ranking relies on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
The data for the BankAmericard has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.
Life comes at you with all kinds of surprises. Should you’re coping with debt as a consequence of surprising bills, there are instruments to get you again heading in the right direction, together with the BankAmericard. Whereas the BankAmericard is not the flashiest bank card on the market, it comes with options that may allow you to zero out your debt over time. Authorised candidates have a credit score rating of not less than 690.
Let’s check out who would most profit from this card and different card choices that will even be price contemplating.
BankAmericard professionals and cons
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BankAmericard welcome supply
The BankAmericard doesn’t include a welcome supply corresponding to bonus money or bonus factors.
At the moment, nevertheless, you may get 0% Introductory APR for 18 billing cycles for purchases and for any steadiness transfers made within the first 60 days of opening your account. After the introductory APR supply ends, 16.24% – 26.24% variable APR will apply. A 3% price applies to all steadiness transfers inside the first 60 days; after that, all future steadiness transfers may have a 4% price.
BankAmericard advantages
The BankAmericard may help you keep away from any undesirable curiosity charges with its introductory APR supply. Moreover, cardholders won’t obtain a penalty APR, which mechanically will increase your rate of interest when paying late. Better of all, BankAmericard has no annual price and alleviates that burden.
When you’re engaged on financing (or refinancing) your debt, you may have entry to Financial institution of America’s suite of on-line banking options, a free FICO rating instrument and entry to credit score schooling subjects.
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Associated: Do steadiness transfers have an effect on your credit score rating?
Incomes/redeeming rewards on the BankAmericard
The BankAmericard presents no rewards corresponding to money again or factors on purchases, and subsequently there are not any redemptions both.
Which playing cards compete with the BankAmericard?
A number of bank cards supply steadiness switch presents upon account opening.
- Should you favor Citi: The Citi® Diamond Most popular® Card (see charges and charges) presents a 0% Intro APR for 21 months on steadiness transfers from date of first switch and 0% Intro APR for 12 months on purchases from date of account opening, then a variable APR of 18.24% – 28.99%, primarily based in your creditworthiness. The cardboard additionally has no annual price. For extra info, take a look at our full evaluation of the Citi Diamond Most popular Card.
- Should you favor Chase: The Chase Slate Edge℠ could also be a greater match for these targeted on steadiness transfers to cut back present debt. Cardholders will take pleasure in a 0% introductory APR interval on purchases and steadiness transfers for the primary 18 months from account opening (then a variable APR of 20.49%—29.24% applies). Cardholders are mechanically thought of for an APR discount by 2% after they pay on time and spend not less than $1,000 in your card by the following account anniversary. For extra info, take a look at our full evaluation of the Chase Slate Edge.
- If you wish to earn money again: The Chase Freedom Flex® presents cardholders a money again welcome bonus ($200 money again after spending $500 on purchases within the first three months of account opening) and a 0% introductory APR for 15 months on purchases and steadiness transfers. After the introductory interval, a variable APR of 20.49% — 29.24% applies. Cardholders additionally earn 5% on as much as the primary $1,500 spent on rotating classes every quarter (activation required), 5% on Lyft rides (by way of March 2025), 5% on journey booked by way of Chase Journey℠, 3% on eating (together with takeout and eligible supply providers), 3% on drugstore purchases, and 1% on all different purchases. For extra info, take a look at our full evaluation of the Chase Freedom Flex.
The data for the Chase Slate Edge has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.
Is the BankAmericard price it?
BankAmericard is without doubt one of the most forgiving playing cards in the marketplace. It’s geared to a wholly completely different viewers: customers with present bank card debt or who’ve a big upcoming buy that they might not have the ability to repay instantly.
Curiosity charges can add up shortly when you’re unable to repay your month-to-month bank card statements. However by transferring your debt over to the BankAmericard, you are given a second likelihood of kinds. You may have extra time to concentrate on paying off your debt with out accruing any curiosity. Plus, there is no penalty APR on this card, that means a late cost will not trigger your rate of interest to shoot up.
Associated: Are you paying sufficient consideration to your bank card’s APR?
Backside line
The BankAmericard is a stable possibility because of its introductory APR supply. If decreasing debt is your main concern, this card may help you strategize your credit score recreation plan. There could also be different playing cards that characteristic longer introductory APR presents on purchases and steadiness transfers, but it surely’s price protecting in thoughts that BankAmericard doesn’t cost a penalty APR for lacking a cost. For these trying to save curiosity prices and repay their debt, BankAmericard is a stable possibility.
