BankAmericard Benefits Guide – CreditCards.com

Bank of America content was last updated on August 9, 2022.

The BankAmericard® Credit Card from Bank of America is relatively simple, but includes a strong ad-funding offer, a new account bonus, and a small commission. At the same time, it still offers a range of attractive features and benefits that you can enjoy just by being a cardholder.

Benefits and privileges of BankAmericard

As a BankAmericard cardholder, you will enjoy many benefits and privileges detailed below:

Dig up credit card debt with long balance transfer sentence

New BankAmericard account holders receive 18 billing cycles at 0 percent per annum on balance transfers made within 60 days of account opening (then 15.24 to 25.24 percent with variable annual interest). This valuable feature allows you to consolidate your existing credit card balances into one account, which brings you several benefits.

First, when you consolidate and start paying off your outstanding balances, your credit score may improve as your credit utilization ratio decreases. It’s also easier to manage fewer payments each month, making it less likely to accidentally delay a payment.

And by not earning interest on those balances for 18 billing cycles, you can save a potentially significant amount in interest payments, depending on your old card’s APR and how much you owe.

Not having to pay interest means that all of your monthly payments are used to pay off your debt. Just note that there is a balance transfer fee of 3 percent of the transfer amount that is added to your new balance (minimum fee is $10).

Enjoy long APR commissioning

Along with BankAmericard’s offer of 18 billing cycles at 0% APR on balance transfers, you will also receive 18 payment cycles of interest-free financing on your new purchases (then from 15.24 to 25.24 percent at variable APR).

With other cards that only offer promotional funding on balance transfer, you will still incur high interest charges when you use your card to make everyday purchases that carry over from billing cycle to billing cycle.

With BankAmericard, you can avoid charging interest on your new purchases for up to a year and a half, giving you extra time and money to pay off your existing balances.

Avoid commissions

BankAmericard has no annual fee and no penalty per year. On the contrary, many other credit cards will charge your account with a higher interest rate after you make a late payment. But with BankAmericard, you can keep your interest rate even if you mistakenly overdue your payment.

Other benefits

While not a card that offers you rewards for all your spending, BankAmericard offers new applicants a $100 credit after they spend $1,000 within 90 days of opening an account. In addition, the Bank of America mobile app offers valuable rewards through the BankAmeriDeals program, which offers cash back offers through participating retailers.

BankAmericard users also receive a free FICO® Score, which is updated monthly and is available through the mobile banking app or online. Bank of America also offers its Museums on Us program, which gives you free access to over 225 partner institutions nationwide on the first full weekend of every month.

Another benefit of this card is digital wallet technology, which allows you to make payments when you make in-store or in-app purchases using Apple Pay®, Android Pay™, or Samsung Pay.

How best to use this card

The key to benefiting from BankAmericard is to take full advantage of its features and benefits. Its most important benefit is a zero interest initial offer for 18 billing cycles on balance transfers (then from 15.24 to 25.24 percent with a variable APR), but you have to take steps to get from it maximum return.

First, start transferring existing balances as soon as possible after opening an account. The APR introductory offer only applies to balances transferred within the first 60 days of account opening, but you will save the maximum amount of interest possible by requesting transfers immediately after this card is approved.

And by transferring the smallest balances first, you can reduce the number of payments you have to make each month and the number of accounts you have outstanding on your credit history, all of which will help improve your credit score.

You should then try to pay off your balance before your introductory offer ends. By creating a debt repayment plan before the standard interest rate is applied, you will permanently pay off your outstanding debts.

You must also use your card to spend at least $1,000 on new purchases within 90 days of opening an account to receive a $100 credit. Don’t overspend, but if you can use your card to pay some outstanding bills, then the $100 credit you get will be worth it.

You should also download the Bank of America mobile app and look for valuable cash back offers that are available through its BankAmeriDeals program. And finally, set a recurring reminder in your calendar for the first weekend of the month to visit some of the institutions in his prized Museums on Us program.

bottom line

BankAmericard is an attractive offering that includes 18 billing cycles with 0 percent APR funding for both new purchases and balance transfers (followed by 15.24 to 25.24 percent APR). In addition, it includes many other features and benefits that make it a solid choice. By understanding the advantages and benefits it offers, you can decide if this card is right for your needs.

Editorial disclaimer

The editorial content on this page is based solely on the objective judgment of our contributors and is not based on advertising. It was not provided or ordered by credit card issuers. However, we may receive compensation when you click on links to our partners’ products.

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