Save Money on Interest with the BankAmericard® Credit Card

By Christina Majaski. Last updated 20 September 2017. 1 comment

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Simple credit cards such as the BankAmericard® credit card, which do not provide all the extra bells and whistles like rewards and bonuses, are designed primarily to provide a low-interest opportunity for those who typically carry a balance from month to month. Transferring your balance to a card with a lower interest rate will save you money in interest fees. (See also: Best Low APR Credit Cards)

Costs

  • $0 Annual Fee
  • 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days, then 12.99% - 22.99% Variable APR
  • $0 Intro Balance Transfer Fee during first 60 days of account opening. After that, the balance transfer fee is 3% (min. $10)
  • 3% Foreign Transaction Fee
  • Pros

    $0 Intro Balance Transfer Fee. Many credit cards offer the option to transfer a balance at 0% APR for a certain amount of time, but most charge a balance transfer fee of at least 3% of the transfer. If you transfer a balance during the first 60 days of account opening with this card, you can save on balance transfer fees with the $0 intro balance transfer fee offer.

    Low APR. Although it is recommended that you pay your balance in full each month in order to avoid paying high amounts of interest on your purchases, if you typically carry balances from month to month, cards with low interest rates are the most economical.

    Cons

    No rewards program. Low-interest credit cards generally do not offer rewards programs as the focus is on providing the lowest interest rate possible. However, if you consistently pay your balance in full each month, you are missing out on valuable rewards you could be earning with your purchases. (See also: Best Travel Rewards Credit Cards

    Foreign transaction fee. The foreign transaction fee of 3% can quickly add up if you use your card frequently for foreign purchases. If you travel abroad, use a card that does not charge a foreign transaction fee. (See also: Best No Foreign Transaction Fee Cards)

    Who This Card Is Best For

    The BankAmericard® credit card is a simple and straightforward credit card, best for those who consistently carry balances from month to month. It is also best if the majority of your purchases are domestic, and if you can pay down a balance transferred from a credit card with a high APR.

    Click here to learn more and apply for the BankAmericard® credit card today!

 


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Guest's picture
tonni caraway

Can I get approve for this credit card if I have file a chapter 13 bankrupt?