The BankAmericard Cash Rewards Credit Card is a solid cash back credit card. Read through this review to decide if this is the best credit card for your needs.
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Bank of America is the largest financial institution in the United States, so you know that they have got the power and resources to be able to put together some great credit card offers.
And they’re committed to doing just that. They know that being an active credit issuer is a big part of maintaining a healthy financial institution, so they want to be sure to make their offers are the best and the most attractive.
Whether or not they’ve succeeded in doing that with the BankAmericard Cash Rewards Visa Signature Card is really up to you. Here are some of the facts about the card so that you can compare it with other offers and decide for yourself which is the best card for you and your financial needs.
Benefits to Having the BankAmericard Cash Rewards Card
As far as rates and fees are concerned, the Cash Rewards card is pretty much run-of-the-mill. It offers some competitive rates and features, but they aren’t necessarily the best rates available today.
- No annual fee
- 0% introductory APR for first 12 statement closing dates
- 12.99%-22.99% standard APR on purchases and balance transfers after the introductory period, depending on your credit.
- 22.99%-24.99% APR on cash advances after the introductory period, depending on your credit.
- 3% fee on balance transfers and direct deposit or check cash advances, with a minimum fee of $10
- 3% fee on foreign transactions
- 5% fee, or $10, on ATM cash advances
- 25-day grace period
- Late fees are up to $35
- The fee for a returned payment is up to $25
Most people are nowhere near as interested in the financial mumbo-jumbo as they are in the rewards. In this case, the rewards are cash.
You will receive:
- 3% back on gas
- 2% back on groceries
- 1% back everywhere, every time
You can start redeeming your cash once you have $25 available to redeem. Grocery and gas bonus rewards apply to the first $1,500 in combined purchases in these categories each quarter.
Plus, apply today and you’ll be eligible to get a $100 cash rewards bonus after qualifying purchases.
Users will also receive a 10% customer bonus when you redeem your rewards into an eligible Bank of America checking or savings account.
This isn’t the best cash-to-purchase ratio available as the Costco American Express Card, Blue Cash from American Express, and the Discover More Card are much better just to name a few, but the BankAmericard Cash Rewards credit card offer is far from the worst.
A Solid Option
Another added benefit of opening any Bank of America credit card is that you can use your card for overdraft protection with a Bank of America checking account.
Even if you look solely at the interest rates and rewards to compare them with other cards, then the BankAmericard Cash Rewards credit card is a solid contender.
It may not be the best card overall, but it’s certainly a decent choice. But it’s always best to compare the card you’re looking at with others to make sure that you’re getting the best possible card for your financial needs.
Use our FREE credit card finder tool to start comparing credit cards now!
- Tarjeta BankAmericard Credit Card
- BankAmericard Cash Rewards Visa Signature Card
- BankAmericard Power Rewards Visa Signature Card
- BankAmericard Basic Visa Card
- American Institute of Architects Rewards American Express Card – from Bank of America
- Bank of America Secured Visa Card
- Bank of America Financial Rewards Visa Platinum