BankAmericard® Credit Card for Students Review
Students who want to build credit and save on interest may benefit from the BankAmericard® credit card for Students credit card. It comes with a lengthy introductory 0% APR offer and no annual fee.
The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
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 21 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.
>>MORE: YOUR GUIDE TO CARRYING OUT BALANCE TRANSFERS WITH BANK OF AMERICA
Card Details to Know Up Front
- Bonus, Fee or FeatureHas or Not
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Has Rewarding Welcome Offer
- Recommended CreditLimited–Fair
BankAmericard® Credit Card for Students at a Glance
With the BankAmericard® Credit Card for Students, you won’t pay interest on purchases during the first 21 billing cycles. If you make a balance transfer within 60 days of account opening, you also get a 0% APR for 21 billing cycles, then a variable APR of 16.24% – 26.24% after that.
- BankAmericard® Credit Card for Students
A good no-annual-fee students’ credit card with an intro 0% APR offer
- Limited–FairRecommended Credit
- $0Annual Fee
- 21 billing cyclesBalance Transfer Duration
- 21 billing cyclesAPR Offer Duration
Pros & Cons Explained
While examining the benefits of the BankAmericard® Credit Card for Students, it’s also important to pay attention to the card’s drawbacks. As part of our BankAmericard® credit card for Students review, we outlined its pros and cons, so you can see if it’s the right card for your needs.
- 0% intro APRThe BankAmericard® credit card for Students offers 0% APR for 21 billing cycles. That means you have well over a year to pay off the balance interest-free before the regular APR kicks in. Plus, it applies to purchases and balance transfers. So, if you have a high-interest credit card you want to save money on, you can transfer the balance and pay no interest during the introductory period.
- No annual feeThere is no annual fee for this student credit card.
- No rewards programUnlike other student cards, the BankAmericard® credit card for Students doesn’t have a rewards program.
- Balance transfer feeYou pay a 3% or $10 fee on balance transfers to the card. That fee even applies to a balance transfer made within 60 days of opening your account to take advantage of the 21 billing cycles 0% APR introductory rate.
- Foreign transaction feeThe card has a 3% foreign transaction fee if you use it outside the United States.
Each month, MoneyGeek analyzes every card in our database and chooses the top picks for popular card categories. The BankAmericard® Credit Card for Students is not a top choice for a student credit card, but you can review the best student credit cards of 2022 to see if another is a better choice for you.
Other Features Explained
In addition to the long introductory APR period and no annual fee, the BankAmericard® Credit Card for Students has other key features worth noting.
- Card FeatureDescription
- Better Money HabitsBank of America has an online resource center that provides tips and other information on how to handle credit, which is helpful to students.
- Mobile appYou 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 appointmentIf you want to connect one-on-one with a credit card specialist, you can set up an appointment that works for your schedule.
Choose to receive alerts about your BankAmericard® Credit Card for Students via text or email and let your phone inform you when payments are due to stay on top of your balances and due dates. That helps you avoid late payments and the up to $40 penalty fee and builds your credit score.
Understanding the Fine Print
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.
- Card FeatureAmount or Rate
- APR16.24% – 26.24% variable
- Annual Fee$0
- Balance Transfer Fee$10 or 3%, whichever is greater
- Balance Transfer APR16.24% – 26.24% variable
- Late FeesUp to $40
After the intro APR period, the card has a variable APR of 16.24% – 26.24%, based on your creditworthiness.
The BankAmericard® credit card for Students doesn’t have an annual fee.
Balance Transfer Fee
This card has a 0% intro APR for 21 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.
You can find the information about fees, rates and more on Bank of America’s website about the BankAmericard® Credit Card for Students to compare it to a card you already have or are considering getting. For a card you have, check your card issuer’s website, latest billing statement or the credit card agreement database maintained by the Consumer Financial Protection Bureau.
Who Should & Shouldn’t Consider BankAmericard® Credit Card for Students?
Other Considerations for BankAmericard® Credit Card for Students
Before pursuing your card application, consider how the BankAmericard® Credit Card for Students may work for you if it's your only card or an additional card in your wallet.
Things to Consider if This Will Be Your First or Only Credit Card
This card has a 0% intro APR offer that can be beneficial for consolidating debt or making a new purchase. But after the introductory period ends, the regular variable APR of this card is 16.24% – 26.24%. You might pay a lot in interest if you don’t pay the balance in full every month.
Things to Consider if This Will Be an Additional Card in Your Wallet
As an additional card in your wallet, you can use the BankAmericard® Credit Card for Students to consolidate existing debts from other cards. With the 0% introductory APR on balance transfers for 21 billing cycles, you could save money and get out of debt faster. Plus, you can keep this card without having to pay an annual fee.
MoneyGeek follows a defined and streamlined methodology that involves collecting information from the Consumer Finance Protection Bureau, standardizing data points for card comparison, estimating average spend profiles, establishing card values and carrying out monthly re-rankings.
How 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.
Quick Comparison of the BankAmericard® Credit Card for Students
BankAmericard® Credit Card for Students
- Annual fee: $0
- Intro APR: 0% for 21 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: 19.24% variable
- Rewards rate: 1%
- Best for: Students who want to earn unlimited rewards
Other Helpful Decision-Making Q&As
Our BankAmericard® credit card for Students review covered the card details, but you may still have questions. We answered frequently asked questions about the BankAmericard® credit card for Students credit card to help you.
Still not sure about this card? Consider these options.
If you’re still undecided about the BankAmericard® credit card for Students, you can check out other student credit cards. If you don’t think a student card is right for your needs, consider looking at rewards cards or travel cards.
Learn more about credit cards in general
- 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.
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