Welcome to another post of techpostzone.com , Today we are going to see BankAmericard Review.
BankAmericard® credit card
It is a useful instrument to aid in debt reduction. Just be aware that once the 0% intro APR term expires, there won’t be much left to gain.
Annual fee : – $0
Regular APR : – 16.24%-26.24% Variable APR
Required credit score : – 690-850 (Good – Excellent)
- No yearly charge.
- lengthier introduction time now! For purchases and any balance transfers performed in the first 60 days, the introductory APR is 0% for the first 21 billing cycles. 16.24% – 26.24% Variable APR will be in effect after the intro APR offer expires. All balance transfers are subject to a 3% fee (minimum of $10).
- Free access to your FICO® Score is available through your mobile banking app or online banking.
- No APR penalty. Your interest rate won’t immediately increase if you pay late (APR). There are other account prices and conditions.
- Contactless Cards -The convenience of a tap with the security of a chip card. You run the risk of losing access to this online-only offer if you navigate away from this page or go to a Bank of America financial institution. When you apply right away, you can benefit from this deal.
Pros & Cons
- No annual fee.
- Intro APR period (21 billing cycles of 0% introductory APR on purchases and 21 billing cycles of 0% introductory APR on balance transfers for transfers made within the first 60 days.)
- Requires good/excellent credit.
- No ongoing rewards.
BankAmericard® credit card Full Review
Though it doesn’t attempt to be, the BankAmericard® credit card isn’t very fancy. It does its one task of reducing credit card interest costs approximately as effectively as any other card on the market.
The value of the card is mostly derived by its 0% period. Beyond that, though, it is devoid of any extras you might be looking for in a credit card, like recurring incentives or simply supplementary benefits. Because of this, there isn’t much need to continue using it when the promotional APR expires.
BankAmericard® credit card: Basics
Credit Card type : – Balance transfer and 0% APR.
Annual fee : – $0.
Sign-up bonus : – None.
Rewards : – None.
Interest rate : – For the first 21 billing cycles, there will be a 0% intro APR on purchases, as well as a 0% intro APR on balance transfers for any transfers done within the first 60 days. After that, there will be an ongoing APR of 16.24%-26.24% Variable APR.
Balance transfer fee: Either $10 or 3% of the amount of each transaction.
Foreign transaction fee: 3%.
Why you might want the BankAmericard® credit card
It can help you pay off debt for little additional cost In the event that you have high-interest debt that is weighing you down or a large purchase you need to make, the BankAmericard® credit card offers one of the longest 0% periods offered anywhere, offering you over two years’ worth of interest relief. The transfer cost is a fair 3% (with a $10 minimum) and there is no annual fee.
It doesn’t charge a penalty APR The BankAmericard® credit card doesn’t have a penalty APR, so if you make a late payment, your interest rate won’t skyrocket. If you forget to make a payment, you will still be charged a significant late fee. Additionally, if you are more than 30 days late, your credit may suffer. However, the absence of a penalty APR may help you feel more at ease and even save you some money.
Why you might want a different card
It doesn’t add up more benefits. Rewards shouldn’t be the main focus of your attention when you’re paying off debt. Minimizing your costs is very crucial. However, there are reward-earning credit cards available without an annual charge that also provide a 0% introductory APR period for balance transfers.
Even after the 0% interest rates on these cards have ended, they are still valuable:
- For every purchase made with the Citi® Double Cash Card, you will receive 2% cash back: 1% when you make the purchase and 1% when you pay it off. For the first 18 months, the intro APR on balance transfers is 0%; after that, the continuous variable APR ranges from 18.24% to 28.24%. As long as you transfer the balance during the first four months after account establishment, the card’s balance transfer fee is 3% with a $5 minimum.
- For the first 15 months, the Discover it® Cash Back features a 0% initial APR on purchases and balance transfers. After that, the APR ranges from 16.24% to 27.24 percent variable. With this card, you can get 5% cash back on purchases up to $1,500 per quarter in a variety of rotating quarterly categories (after you activate those categories). 1% of all other purchases are reimbursed. In the past, bonus categories have included things like gas stations, supermarkets, dining establishments, Amazon.com, and wholesale clubs. The initial balance transfer cost is 3%; subsequent balance transfers may incur fees of up to 5%. (see terms).
Is the BankAmericard® credit card right for you?
For anyone trying to eliminate debt, the BankAmericard® credit card is a good choice. However, there are other options available, including ones that offer incentives, if you want a card you can keep using once you pay off that balance.
Does the BankAmericard® credit card offer rewards?
There are no rewards available with the BankAmericard® credit card. However, previous to the middle of 2017, Bank of America® offered cash back and travel rewards cards under the name “BankAmericard.”
How much is the BankAmericard® credit card balance transfer fee?
The balance transfer fee is 3% of the amount transferred (minimum $10).
Is the BankAmericard® credit card a good card?
The annual charge is $0 The BankAmericard® credit card is a respectable choice for financing large purchases and debt repayment, but it doesn’t offer much in the way of long-term benefits once the initial 0% APR on purchases and qualifying balance transfers expires.
Is the BankAmericard® credit card a Visa or Mastercard?
The BankAmericard® credit card is a Mastercard.
What credit score do I need for the BankAmericard® credit card?
To be eligible for the BankAmericard® credit card, you must have good to excellent credit, often with a credit score of at least 690. When considering applications, issuers also take into account criteria besides credit score, such as your income and previous debts.
Overall, we covered full review for BankAmericard® credit card in this article. Please rate this post with five stars in the top right corner, spread the word to your friends, and visit our other webpages if you enjoyed it. Thanks