The BankAmericard® Credit Card for Students is a good credit card for students who will make a large purchase soon or want to pay down existing debt while still in school. While it doesn’t have a rewards structure, you get a 0% APR for 18 billing cycles on purchases and balance transfers posted within the first 60 days after account opening. MoneyGeek’s BankAmericard® credit card for Students review further analyzes the card’s features and benefits to help you determine if it's the right option for you.
MoneyGeek’s Take
BankAmericard® Credit Card for Students Review
Updated: August 26, 2024
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BankAmericard® Credit Card for Students
Rewards Summary
N/AAPR
16.24% – 26.24% VariableAnnual Fee
$0Recommended Credit
740-850 (Excellent)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
We recommend this Bank of America credit card to students who are looking for a card with an intro APR offer and no annual fees. This card comes with a 0% APR offer on purchases and balance transfers for the first 18 billing cycles. However, you need to pay a fee if you choose to transfer a balance to this card.
Using this card in a responsible manner gives you the ability to build your creditworthiness. Free access to your FICO score means you can stay on top of any changes to your credit score. Using this card outside of the U.S. is not recommended because it comes with foreign transaction fees.
- PROS
- No annual fees
- Intro 0% APR offer
- FICO score for free
CONS- 0% APR applies on balance transfers carried out in the first 60 days
- Balance transfer fees
- Foreign transaction fees
- No annual fees
- Intro APR offer on balance transfers and purchases for the first 18 billing cycles, then a variable APR of 16.24% – 26.24%
- Need to transfer balances within 60 days of account opening to qualify for the intro APR offer
- 3% balance transfer fee (minimum of $10)
- 3% foreign transaction fee
- FICO score for free
- $0 liability guarantee
Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
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BankAmericard® credit card for Students Overview
Quick Take
- No annual fees
- Intro APR offer on balance transfers and purchases for the first 18 billing cycles
- Need to transfer balances within 60 days of account opening to qualify for the intro APR offer
- 3% balance transfer fee (minimum of $10)
- 3% foreign transaction fee
- Get free access to your FICO score
- $0$ liability guarantee
Important Card Details
Before you apply for the BankAmericard® Credit Card for Students, you need to review and understand the fine print, so you won’t be caught off guard by fees and rates.
Regular APR
After the intro APR period, the card has a variable APR of 16.24% – 26.24%, based on your creditworthiness.
Annual Fee
The BankAmericard® credit card for Students doesn’t have an annual fee.
Balance Transfer Fee
This card has a 0% intro APR for 18 billing cycles on balance transfers made within the first 60 days. But you do pay a 3% or $10 fee (whichever is more) per transfer at that time and afterward.
Foreign Transaction Fee
A 3% fee applies on transactions made with the card outside the United States.
Late Payment Fee
If you miss the payment due date on this student credit card, you pay up to $40 as a penalty.
Additional Benefits
In addition to the long introductory APR period and no annual fee, the BankAmericard® Credit Card for Students has other key features worth noting.
- Better Money Habits: Bank of America has an online resource center that provides tips and other information on how to handle credit, which is helpful to students.
- Mobile app: You can use the Bank of America mobile app or online account portal to stay in control of your finances and make/schedule payments.
- One-on-one appointment: If you want to connect one-on-one with a credit card specialist, you can set up an appointment that works for your schedule.
- Zero liability protection: The BankAmericard® credit card for Students card comes with a $0 liability guarantee, which covers fraudulent transactions made by others on your account.
- FICO score access: You can access your credit score for free through your online account or mobile app. Additionally, you can opt-in to receive your score, the key factors affecting your score and other information to keep your credit healthy.
How the BankAmericard® credit card for Students Compares To Other Cards
Our BankAmericard® Credit Card for Students review found it’s a good option for a student card if your focus is on financing a purchase or paying off high-interest debt without interest for a long period. Here’s how it compares to another card in the same category.
How the BankAmericard® credit card for Students Compares
BankAmericard® Credit Card for Students
- Annual fee: $0
- Intro APR: 0% for 18 billing cycles
- Regular APR: 16.24% – 26.24% variable
- Rewards rate: None
- Best for: Students who want to pay down debt or finance a large purchase interest-free
Chase Freedom® Student credit card
- Annual fee: $0
- Intro APR: None
- Regular APR: 19.99% variable
- Rewards rate: 1%
- Best for: Students who want to earn unlimited rewards
Frequently Asked Questions
What is the average credit score needed to get approved for the BankAmericard® credit card for Students?
Bank of America doesn’t specify an average credit score requirement for this student credit card, but you have the best chance of approval with good to excellent credit.
Does the BankAmericard® credit card for Students card report to all three credit bureaus?
Yes, it reports your student credit card account to the three major credit bureaus.
What information is needed to apply for the BankAmericard® credit card for Students?
You need to provide your personal information, contact information and financial information.
Does the BankAmericard® credit card for Students have good customer service or helpful information online?
Bank of America has a detailed FAQ page on its website. It also provides educational resources to help students establish good credit habits.
Does the BankAmericard® credit card for Students card have a mobile app or the option to pay or manage your account online?
Yes, it has a mobile app and online account access you can use to stay on top of your finances.
Does the BankAmericard® credit card for Students card raise credit limits automatically or charge for limit increases?
Yes, Bank of America provides automatic credit limit increases. But you can also request an increase through your online account or by calling the number on the back of your card.
Does the BankAmericard® credit card for Students card offer the option to freeze your credit/account or have other security features?
Bank of America has security features to protect your credit card account from fraudulent activities.
Does Bank of America offer other credit cards besides the BankAmericard® credit card for Students?
Yes, Bank of America offers various credit cards, including BankAmericard® credit card and Bank of America® Customized Cash Rewards credit card.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
sources
- Bank of America. "BankAmericard® Credit Card for Students." Accessed April 13, 2022.
- Bank of America. "Terms and Conditions." Accessed April 13, 2022.
- Bank of America. "Credit Card Account Management FAQs." Accessed April 13, 2022.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.