Chip Lupo, Credit Card Writer
@CLoop
You can get a Bank of America credit card with a 0% intro balance transfer APR and no annual fee, but all Bank of America credit cards that offer a 0% introductory APR on balance transfers charge a balance transfer fee of 3% to 4%, depending on the card. You could try asking for a fee waiver, but the chances aren’t good.
Only around 7% of people say they’ve been successful getting a balance transfer fee waived, according to WalletHub’s customer service survey. If you’re unsuccessful in getting a fee waiver, you could consider credit cards with no balance transfer fee instead. But you may be able to save more with a BofA balance transfer, despite the fee.
Best Bank of America Balance Transfer Cards
- BankAmericard® credit card: Intro APR of 0% for 18 billing cycles for any balance transfers made in the first 60 days, 14.99% - 24.99% Variable APR after, balance transfer fee of 3%
- Bank of America® Customized Cash Rewards credit card: Intro APR of 0% for 15 billing cycles for any balance transfers made in the first 60 days, 17.99% - 27.99% Variable APR after, balance transfer fee of 3% for 60 days from account opening, then 4%
- Bank of America® Unlimited Cash Rewards credit card: Intro APR of 0% for 15 billing cycles for any balance transfers made in the first 60 days, 17.99% - 27.99% Variable APR after, balance transfer fee of 3% for 60 days from account opening, then 4%
- BankAmericard® credit card for Students: Intro APR of 0% for 18 billing cycles for any balance transfers made in the first 60 days, 14.99% - 24.99% Variable APR after, balance transfer fee of 3%
While the best balance transfer credit cards can save you a ton of money on interest and help you quickly get out of debt, this strategy can backfire on you if you’re not careful. Make sure you pay the balance in full before the introductory period expires, or else interest charges will apply to the remaining balance at the card’s regular APR.
To learn more, refer to WalletHub’s guide to balance transfers and how they work.
Popular Bank of America Credit Cards
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Rewards
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Cash Back
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Students
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Small Business
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
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People also ask
Does Bank of America charge a balance transfer fee?
Yes, Bank of America does charge a balance transfer fee on some of its credit cards. The Bank of America balance transfer fee is 3% for 60 days from account opening, then 4% of the amount of each transferred balance for all Bank of America credit cards that charge a balance transfer fee.
Balance Transfer Fees on Popular Bank of America Credit Cards
- Bank of America® Customized Cash Rewards credit card: 3% for 60 days from account opening, then 4%
- Bank of America® Premium Rewards® credit card: 4%
- BankAmericard® credit card: 3%
- Bank of America® Travel Rewards credit card: 3% for 60 days from account opening, then 4%
- PGA Tour Credit Card: 3% (min $10)
There...
read full answer by Chip Lupo, Credit Card WriterDo balance transfers hurt your credit?
Yes, balance transfers do hurt your credit when you open a new credit card account to do the transfer. Applying for a balance transfer credit card will generate a hard inquiry on your credit report, causing a slight dip in your credit score.
If you transfer a balance to an existing credit card account, however, there is no hard inquiry and no credit score damage. A balance transfer could still result in high credit utilization, though, and allow you...
read full answer by WalletHub, Financial CompanyWhat is the Bank of America credit card interest rate?
Bank of America credit card interest rates can be as low as 0% introductory APR for as long as 18 billing cycles. Regular, ongoing Bank of America credit card interest rates can be as low as 14.99% (V) or as high as 27.99% (V), depending on the card and the applicant’s credit standing.
Bank of America Credit Card Interest Rates by Card
- Bank of America® Customized Cash Rewards credit card: 17.99% to 27.99% Variable
- Bank of America® Premium Rewards® credit card: 19.99% to 27.99% Variable
- BankAmericard® credit card: 14.99% to 24.99% Variable
- Bank of America® Customized Cash Rewards Secured Credit Card: 27.99% (V)
- Bank of America® Unlimited Cash Rewards credit card: 17.99% to 27.99% Variable...
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