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The best Bank of America balance transfer offer is an intro APR of 0% for 21 billing cycles for any balance transfers made in the first 60 days after getting the BankAmericard® credit card. The card also comes with a $0 annual fee, but there’s a 5% balance transfer fee and a regular APR of 14.99% - 25.99% Variable.
Bank of America balance transfers work with several types of debt, including balances from credit cards, auto loans, student loans, mortgages, and more. You just can’t transfer debt between Bank of America products.
Best Bank of America Credit Card Balance Transfer Offers
Ongoing Rewards: N/A
Transfer Intro APR: 0% for 21 billing cycles for any balance transfers made in the first 60 days
Balance Transfer Fee: 5%
Regular APR: 14.99% - 25.99% Variable
Annual Fee: $0
Credit Score: Excellent
Ongoing Rewards: 2% cash back on purchases for the first year from account opening, 1.5% cash back on purchases after that
Transfer Intro APR: 0% for 15 billing cycles for any balance transfers made in the first 60 days
Balance Transfer Fee: 3% for 60 days from account opening, then 5%
Regular APR: 17.49% - 27.49% Variable
Annual Fee: $0
Credit Score: Excellent
Ongoing Rewards: 6% cash back in a category of your choice during the first year, then 3% cash back, 2% back at grocery stores and wholesale clubs (up to $2,500 in combined quarterly spending across the choice category, grocery stores, and wholesale clubs), and unlimited 1% cash back on all other purchases
Transfer Intro APR: 0% for 15 billing cycles for any balance transfers made in the first 60 days
Balance Transfer Fee: 3% for 60 days from account opening, then 5%
Regular APR: 17.49% - 27.49% Variable
Annual Fee: $0
Credit Score: Excellent
Ongoing Rewards: N/A
Transfer Intro APR: 0% for 21 billing cycles for any balance transfers made in the first 60 days
Balance Transfer Fee: 5%
Regular APR: 14.99% - 25.99% Variable
Annual Fee: $0
Credit Score: Excellent
Balance transfers with Bank of America take at least 14 days to complete. So, it’s best to initiate your transfer as soon as possible because the intro APR period starts as soon as you open your account. When the intro period ends, any remaining balance will accrue interest at the card’s regular APR.
Keep in mind that you will need excellent credit to qualify for most Bank of America balance transfer credit cards. If you don’t know where you stand, you can check your credit score for free on WalletHub. Also, if you’re not tied to Bank of America as an issuer, feel free to take a look at our editors’ latest picks for the best balance transfer credit cards on the market.
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People also ask
Does a balance transfer affect your credit score?
Balance transfers affect your credit score because they typically involve opening a new credit card account to receive the transfer. When you apply for a new credit card, the issuer does a hard inquiry into your credit history, which temporarily hurts your credit score. However, if you use the transfer to pay off your debt sooner, this should benefit your credit score and overall financial health in the long run.
To see how a...
read full answer by WalletHub, Financial CompanyWhat types of balances can you transfer to a credit card?
Each credit card company has its own policies about the types of debt that you can transfer to its credit cards. All major credit card companies allow you to transfer a balance from another issuer’s credit card but not one of their own. Some issuers also allow you transfer other types of debt, such as a balance from an auto loan, student loan, payday loan, mortgage, etc.
For example, you can only transfer credit...
read full answer by John S Kiernan, Managing EditorDid we answer your question?
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