BankAmericard – How to apply

By Raquel Oliveira • 03/28/2025

BankAmericard helps you save on interest with a simple and straightforward credit card experience.

Its most notable feature is the 0% APR for 21 billing cycles on purchases and balance transfers, which is among the most generous offers in the market.

Balance transfers need to be completed within the first 60 days of opening your account to qualify for the 0% APR. While this feature is incredibly helpful, it does come with a transfer fee of either $10 or 3% of the amount transferred, whichever is greater.

Once the introductory period ends, the card’s variable APR kicks in, which is determined by your creditworthiness. This makes it crucial to pay off your balances during the interest-free period to maximize your savings.

The card doesn’t have a rewards program, but it does offer tools for financial management, such as fraud monitoring and zero liability for unauthorized charges. Combined with its mobile app, these features make it a reliable choice for anyone who values security and simplicity.

How does No Annual Fee Card BankAmericard Work?

The BankAmericard No Annual Fee Card operates similarly to a standard credit card but with an important advantage. It provides a 0% introductory APR on purchases and balance transfers for up to 21 billing cycles.

During this period, you can make purchases or transfer balances without worrying about interest charges. This is particularly useful for individuals who need to consolidate debts, make larger purchases, or simply enjoy an extended period of interest-free financing.

Once the introductory period ends, a variable APR applies, which is determined based on your creditworthiness. While this rate is competitive within the industry, the key benefit of the card is the ability to avoid high interest rates initially.

This credit card is ideal for individuals seeking financial flexibility, especially those who prioritize low costs over rewards. With no annual fee, it remains an affordable option for anyone who wants to use credit responsibly.

Main Benefits of BankAmericard

Here are the key benefits of the BankAmericard No Annual Fee Card:

• Free Monthly FICO Score Access: Track your credit score for free every month through online banking or the mobile app, helping you monitor and improve your financial health.
• 0% Introductory APR: Enjoy 0% APR for up to 18 months on purchases and balance transfers, giving you a longer period to manage payments without interest.
• Low Balance Transfer Fee: The card offers a 3% balance transfer fee during the first 60 days of account opening, making it cost-effective for debt consolidation. After this period, the fee increases to 4%.
• No Penalty APR for Late Payments: Even if you miss a payment, your interest rate (APR) won’t increase, providing more flexibility in case of financial difficulties.

Who Should Get the Bank of Americard No Annual Fee Card?

The Bank of Americard No Annual Fee Card is an excellent choice for individuals who prioritize saving on interest rather than earning rewards.

It’s specifically designed for those who need a low-cost credit option with flexible payment terms. Here’s who would benefit the most from this card:

• Individuals Looking to Consolidate Debt: The 0% introductory APR on balance transfers allows you to move high-interest debt to this card and pay it off without accruing additional interest for up to 18 months.
• People Planning Large Purchases: If you need to make a big purchase, this card offers a long interest-free period, making it easier to pay off over time without high finance charges.
• Those Who Want to Improve Their Credit: With no penalty APR for late payments and free monthly FICO Score access, this card is ideal for individuals looking to monitor and build their credit score responsibly.
• Users Who Prefer Simplicity: Since this card has no annual fee and focuses on interest savings rather than rewards, it’s great for those who prefer a straightforward financial tool without complex point systems.

If your goal is to save on interest and manage your finances better, this card could be a valuable addition to your wallet.

Cons of the BankAmericard Credit Card

While the BankAmericard® Credit Card has many strengths, there are a few downsides to consider:

Cons of BankAmericard

One of the main drawbacks of the Bank of Americard is the lack of a rewards program. Many other credit cards offer cashback, points, or travel miles, but this card prioritizes interest savings over rewards.

Another disadvantage is the variable APR after the introductory period. While the 0% APR for 21 billing cycles is a strong selling point, the post-promotional rate can be relatively high, depending on your credit score.

The card also charges a foreign transaction fee of 3%, making it less attractive for frequent travelers. If you often shop internationally or use your credit card abroad, these fees can accumulate, increasing overall costs.

Finally, although the balance transfer fee is reasonable during the initial 60-day period, it increases to 4% after that. This change means that users who don’t act quickly may face higher costs when consolidating debts.

APR and Fees

The BankAmericard No Annual Fee Card features a 0% introductory APR for up to 18 billing cycles, applicable to both purchases and balance transfers made within the first 60 days of account opening.

After the introductory period ends, a variable APR applies, currently ranging from 15.74% to 25.74%, depending on an individual’s creditworthiness. Those with excellent credit are more likely to receive the lowest possible rate.

Regarding fees, the card charges a balance transfer fee of 3% during the first 60 days, which then increases to 4%. While these fees are competitive, they should be considered when deciding whether to transfer balances from other cards.

Additionally, the card applies a 3% foreign transaction fee, making it less suitable for international use. Frequent travelers may want to explore credit card options that waive foreign transaction fees to avoid unnecessary charges.

How to Apply for the BankAmericard

Applying for the BankAmericard No Annual Fee Card is a straightforward process. The first step is to visit the official Bank of America website, where you can fill out the online application form.

The approval process is typically quick, and many applicants receive a decision within minutes. However, approval is based on your credit profile, and those with higher credit scores are more likely to receive better terms and lower interest rates.

Once approved, you will receive your card in the mail within a few days, allowing you to start using it immediately. The card activation process is simple, either through online banking or via the mobile banking app.

This credit card is best suited for individuals looking for a low-cost credit option, particularly those who prioritize saving on interest rather than accumulating rewards. If used responsibly, it can be a powerful financial tool for managing expenses.