Bank of America Student Platinum Plus Visa

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Bank of America Student Platinum CardIs the Bank of America Student Platinum Plus Visa Card a good student credit card? Read through this review of the Bank of America Student Platinum Visa credit card offer and decide for yourself!

Most college students are on their own for the first time in a big, scary world. They’re just learning the ropes of personal finances, which includes the realm of credit. Many students mistakenly see credit cards as free money, and wind up falling prey to predatory lenders. But a wise college student will be more deliberate about jumping into the world of credit, and will want to establish a good credit history from the very start.

One of the best ways to accomplish this goal is to open a student credit card. Most banks offer them, and they generally have lower interest rates than traditional credit cards.

BOA Student Credit Card Details

Bank of America’s version of the student credit card is the Bank of America Student Visa Platinum Plus. This versatile card is accepted at most retailers and starts you off with a manageable interest rate and a manageable credit line. Here are some of the important features of this card.

  • No annual fee
  • 14.24% APR
  • 24.24% APR on cash advances
  • 25-day grace period
  • 3% fee on wire transfers, balance transfers, overdraft protection transfers and cash advances, with a minimum charge of $10
  • 3% fee on foreign transactions
  • Late fees are $15 if your balance is $100 or less, $25 if your balance is over $100 but less than $1,000, and $35 if your balance is over $1,000
  • Returned payment fee is $35

Advantages of the Bank of America Student Visa

There are no rewards that come with this card, but that will come later, after you’ve established your good credit and have become a hot commodity for lenders to chase after. And thanks to the manageable credit limit, you won’t be able to spend more than you can pay back at this stage in your life. But as you grow and continue to faithfully tend to your finances, the bank will give you more and more freedom, and will ultimately raise your credit limit to a level at which it is in line with your current standard of living.

Comparison is Good

If you’re a student, you should definitely get a good, student credit card. It’s important to start building your credit early. Simply opening a credit card can be a good way to build. Even if it just sits there, unused, you’ll still be building credit for yourself, just by virtue of the fact that it’s open and not overdrawn.

But as with most purchases, it’s a good idea to gather a few competitors’ features so that you can compare the Bank of America card with one from another bank to see if you’re really getting the best deal after all. It always pays off to have the patience to compare and see which product is the best for you.

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Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!

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