Bank of America

BankAmericard

4.4

BankAmericard offers 0% APR on balance transfers for 21 months (3% fee, waived if transferred within 60 days), plus 1.5% cash back on all purchases. It's a strong balance transfer option when the fee is waived.

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The Bottom Line

BankAmericard is competitive with Citi Simplicity, but with a twist: the 3% balance transfer fee is waived if you transfer within 60 days of opening. The 1.5% cash back on all purchases is higher than Simplicity's 1%, making it better for cashback after balance payoff. For those able to transfer quickly, BankAmericard is superior.

At a Glance

Annual Fee	None
Balance Transfer APR	0% for 21 months
Balance Transfer Fee	3% (waived if transferred within 60 days)
Cash Back Rate	1.5% on all purchases
Card Network	Visa
Network	Visa
Rewards Rate
Intro APR	0% for 21 months on balance transfers (3% fee, waived if transferred within 60 days)

Fee Waiver: The Game-Changer

BankAmericard's 3% balance transfer fee is waived if you transfer within 60 days. On a $10,000 balance, this saves $300. Combined with the 21-month 0% APR, you get fee-free balance consolidation. This matches Citi Simplicity's advantage but with higher cash back afterward. The 60-day window requires prompt action—apply for the card and initiate transfers quickly. For organized applicants ready to move quickly, BankAmericard is excellent.

Higher Cash Back Makes BankAmericard Superior

BankAmericard's 1.5% cash back on all purchases beats Simplicity's 1%. After you pay off the transferred balance, BankAmericard continues earning at 1.5%, making it more valuable for ongoing spending. Someone earning $5,000 annually on new purchases after balance payoff earns $75 with BankAmericard versus $50 with Simplicity—a $25 annual advantage that compounds.

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Pros & Cons

Pros

0% APR on balance transfers for 21 months
3% balance transfer fee (waived if transferred within 60 days)
1.5% cash back on all purchases
No annual fee
Bank of America account integration

Cons

3% fee applies if transferred after 60 days
Requires timely transfer action
Slightly less cash back than Citi Double Cash (2%)
Limited bonus features

Frequently Asked Questions

How does the fee waiver work?

If you transfer your balance within 60 days of opening the account, the 3% balance transfer fee is waived entirely. After 60 days, a 3% fee applies to new balance transfers. This incentivizes quick action—apply for the card and transfer within 2 months to avoid fees.

Is 1.5% cash back good?

Yes, 1.5% cash back is solid for a no-annual-fee card. It's higher than Citi Simplicity's 1% and matches Chase Freedom Unlimited's base rate. For post-balance-transfer spending, the cash back is valuable.

What happens after the 21-month 0% period?

Any remaining balance will be subject to the regular APR (20.99% - 30.99%). Ensure you have a payoff plan in place. For a $5,000 transfer, aim to pay $238/month to eliminate it within 21 months.