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We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. SHARE: Maskot/Getty Images August 24, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Margaret has written for Money Under 30, MoneyGeek, The Simple Dollar, CreditCards.com, Interest.com and Fiscal Tiger, among other publications. She writes about subjects including saving, credit, insurance, investing and other financial topics. Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Brady Porche is an editorial director for Bankrate Credit Cards and CreditCards.com. He has two decades of professional experience as a writer and editor. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate logo The Bankrate promise
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. The BankAmericard credit card may not have all of the bells and whistles offered by more premium rewards cards, but it’s a great for those looking to pay down debt and a solid starter card for new borrowers. With a zero-interest intro APR on both purchases and balance transfers for no annual fee, there’s a lot to like about this card — even if it doesn’t come with any rewards. The BankAmericard was the first credit card I ever opened, and while it’s no longer the primary card I use, it’s still a great fit if you’re new to the world of credit and can’t qualify for more lucrative options or have accumulated credit card debt that you’re looking to pay off. Here are just a few reasons the BankAmericard is worth considering. 1 There s an exceptionally long 0% intro APR
One of the major draws of the BankAmericard is its zero-interest introductory offer. Cardholders can enjoy a 0 percent intro APR for 21 billing cycles on both purchases and any balance transfers made in the first 60 days. After the introductory period is over, the card charges a variable APR between 14.99 percent and 24.99 percent. can help you save on interest and pay down debt faster. Keep in mind, though, the card charges a of 3 percent (minimum $10 applies), which is in line with the fees charged by other balance transfer cards. Further, keep in mind that balance transfers must be made in the first 60 days in order to qualify for the introductory rate. 2 There s no annual fee
Another nice perk of the BankAmericard is that there’s no annual fee. This means that it can work with a wide variety of budgets, and you don’t have to worry about spending a certain amount in particular categories in order to make the card worthwhile. When I first opened the BankAmericard, I wasn’t sure I’d spend enough to justify a hefty annual fee, which made this card a great fit for my wallet. 3 You won t be charged a penalty APR
The BankAmericard doesn’t charge a , should you pay your bill late one month, unlike other cards in the landscape. You will, though, be charged a late fee if you miss a payment due date. If avoiding these kinds of fees is important to you, you might consider our list of the . 4 It s a good fit for new borrowers
The card doesn’t come with as many perks as more premium credit cards marketed to experienced borrowers with (or even compared to other Bank of America credit cards). That said, its lack of an annual fee and zero-interest introductory offers make it an attractive option for borrowers who are just starting out, those who may not have had a credit card before and those looking to rebuild credit. In fact, this was the first credit card I opened straight out of college. 5 It comes with free FICO score access
Staying on top of your credit score is important to your overall financial health. Since your score can affect which financial products you qualify for — from auto or home loans, to credit cards and everything in between — it pays to ensure your credit score is as high as possible. The BankAmericard comes with free access, which makes it easy to keep tabs on your credit online or through the Bank of America mobile app. 6 It features educational resources
If you’re new to the world of credit, the BankAmericard offers a variety of free educational resources within your online account to help guide you along the way. This includes information about using credit cards responsibly, budgeting, personal finance and more. What to consider when applying for the BankAmericard
The BankAmericard is a great option if you’re interested in transferring a balance from another card or have a large purchase on the horizon, as well as if you’re new to credit cards and looking for a simple, low-cost . That said, there are a few things you should consider when applying for this card. As noted above, the BankAmericard charges a balance transfer fee of 3 percent (with a minimum of $10), which can eat into the money you’ll save on interest, as well as a 3 percent on purchases made abroad. Further, keep in mind that this card doesn’t earn any rewards and is light on perks (you can read our for a full list of card perks). If you have excellent credit and are an experienced borrower, you’ll likely be able to qualify for more lucrative cards. Of course, if paying off existing debt is your main priority, and you need as much time as you can get, the BankAmericard is one of the on the market. The bottom line
The BankAmericard is a solid choice for a no-frills credit card, particularly if you’re just starting out or looking for a good balance transfer option. For more information on particular card offerings, be sure to read through our . BankAmericard credit card information was updated on October 3, 2022. SHARE: Margaret has written for Money Under 30, MoneyGeek, The Simple Dollar, CreditCards.com, Interest.com and Fiscal Tiger, among other publications. She writes about subjects including saving, credit, insurance, investing and other financial topics. Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Brady Porche is an editorial director for Bankrate Credit Cards and CreditCards.com. He has two decades of professional experience as a writer and editor.