BankAmericard Credit Card
Best for individuals with good credit (650+) who are looking to transfer and pay down existing credit card debt
- No annual fee
- 0% intro APR on balance transfers within first 60 days.
- FICO® Score updated monthly for free
The BankAmericard® credit card can really claim a position alongside other popular balance-transfer royalty which punched up its balance transfer facilities in 2017. It now allows you to move debt as well as pay it down over time without fees or a penny in interest.
Combined with its 0% introductory APR period and $0 annual fee, the BankAmericard® credit card gives you plenty of breathing room and benefits to pay down debt without fees or interest. For the first 60 days your account is open, the credit card has a $0 introductory balance transfer fee. After that, the fee for balance transfers is 3% (min. $10). You can literally save hundreds of dollars if you transfer a balance during that 60-day window. A change made in 2017 has turned the credit card into a reliable balance-transfer credit card on the market.
With an attractive promotion for both balance transfers and purchases, you can use your credit card without racking up the interest. You get an introductory rate of 0% on Balance Transfers for 15 billing cycles for balance transfers and made 0% on Purchases for 15 billing cycles in the first 60 days, and then the ongoing variable APR of 13.24% – 23.24%.
- No introductory APR offers on purchases
- No rewards
A discouraging thing is that the Credit Card does not have any introductory APR offers on purchases, rather it just balances transfers. Most other credit cards tend to extend the promotional offer to both purchases and balance transfers in this category.
You should note that the Credit Card requires an excellent credit score to qualify for. You should instead look at some other low interest options if your score is below 650 as pure balance transfer cards might be out of the reach.
This card also doesn’t offer rewards, but minimizing cost is not your primary concern when you’re paying down your debt.
The BankAmericard® Credit Card is an easy and a fairly simple credit card and the primary focus is on facilitating your balance transfers. We recommend checking out rewards cards, whether travel or cash back if you do not have any credit card debt and pay off the bills on a monthly basis.
This Credit Card can offer you decent savings if you’re having a balance which is accruing interest. Go ahead and move the debt over to your Credit Card, if you qualify for it. This Credit Card offers top-notch value for them who are paying down large balances.