What is the Bank of America Unlimited Cash Rewards Business Card interest rate?

The Bank of America credit card interest rate can be anywhere from 15.49% (V) to 27.49% (V). It depends on both your credit standing and which Bank of America credit card you apply for. All Bank of America credit card APRs are variable, meaning they can change over time.

Here are the Bank of America credit card interest rates:... read full answer

• BankAmericard® credit card15.49% - 25.49% Variable regular APR. Intro APR of 0% for 21 billing cycles on purchases and 0% for 21 billing cycles for any balance transfers made in the first 60 days. 3% balance transfer fee.
• Bank of America® Unlimited Cash Rewards credit card17.49% - 27.49% Variable regular APR. Intro APR of 0% for 18 billing cycles on purchases and 0% for 18 billing cycles for any balance transfers made in the first 60 days. 3% balance transfer fee.
• Bank of America® Customized Cash Rewards credit card17.49% - 27.49% Variable regular APR. Intro APR of 0% for 18 billing cycles on purchases and 0% for 18 billing cycles for any balance transfers made in the first 60 days. 3% balance transfer fee.
• Bank of America® Travel Rewards credit card17.49% - 27.49% Variable regular APR. Intro APR of 0% for 18 billing cycles on purchases and 0% for 18 billing cycles for any balance transfers made in the first 60 days. 3% balance transfer fee.
• Bank of America® Premium Rewards® credit card19.49% - 26.49% Variable regular APR. No intro APR.
• Bank of America® Premium Rewards® Elite Credit Card19.49% - 26.49% (V) regular APR. No intro APR.
• BankAmericard® Secured Credit Card25.49% (V) regular APR. No intro APR.
• Bank of America® Customized Cash Rewards Secured Credit Card27.49% (V) regular APR. No intro APR. Credit cards for students:
• Bank of America® Unlimited Cash Rewards Secured Credit Card27.49% (V) regular APR. No intro APR.
• BankAmericard® Credit Card for Students15.49% - 25.49% (V) regular APR. Intro APR of 0% for 21 months on purchases and 0% for 21 months on balance transfers. 3% balance transfer fee.
• Bank of America® Travel Rewards Credit Card for Students17.49% - 27.49% (V) regular APR. Intro APR of 0% for 18 months on purchases.
• Bank of America® Customized Cash Rewards Credit Card for Students17.49% - 27.49% (V) regular APR. Intro APR of 0% for 18 months on purchases and 0% for 18 months on balance transfers. 3% balance transfer fee.
• Bank of America® Unlimited Cash Rewards credit card for Students17.49% - 27.49% (V) regular APR. Intro APR of 0% for 18 months on purchases and 0% for 18 months on balance transfers. 3% balance transfer fee.
• BankAmericard® Credit Card for Students15.49% - 25.49% (V) regular APR. Intro APR of 0% for 21 months on purchases and 0% for 21 months on balance transfers. 3% balance transfer fee.

Each Bank of America credit card also has more than one interest rate. There’s the regular APR, which applies to purchases and balance transfers and ranges from 15.49% (V) to 27.49% (V). Several cards have a 0% APR on purchases and/or balance transfers for a certain number of months, before the regular APR takes effect. And if you miss a payment, you could have a penalty interest rate of up to $40. Ultimately, there is also an APR for cash advances that can be anywhere between 20.49% - 29.49% (V), depending on your creditworthiness and the card.

If you want to increase the chances of getting a low Bank of America credit card interest rate, you should make sure your credit is as good as possible before applying. Doing anything you can to bump up your income can also make a difference. But if you pay your credit card bill in full every month, you won’t ever have to worry about the interest rate.

The highest credit card interest rate in recent memory was 79.9% on a card offered by First Premier Bank in 2010. That offer’s not available anymore. The current highest credit card interest rate is 36%. That’s on the First PREMIER® Bank Credit Card. The next highest credit card interest rate seems to be 35.99%, charged by the Total Visa® Card and the First Access Visa® Card. These rates are very high when you consider that the average interest rate is only around ... read full answer18%.

Legally, there actually is no highest credit card interest rate that’s possible. Credit card companies are allowed to charge any interest rate. But they must clearly state what that rate is in the card’s terms and conditions. And companies that would like to charge outrageous interest rates are limited by what people are actually willing to pay. You should always make sure you know a card’s interest rate before applying. Otherwise, it may come as a nasty surprise.

Here are some of the highest credit card interest rates:

• Highest historical credit card interest rate:9% APR on the old First Premier Bank Credit Card. This card is no longer available. It was for people with bad credit.
• First PREMIER® Bank Gold Credit Card: 36% APR. The card is unsecured and for bad credit. It has an annual fee of $50 - $125 1st yr, $45 - $49 after that. Plus, there’s a $55 - $95 one-time processing fee.
• Total Visa® Card: 35.99% APR. The card is for bad credit. It has an annual fee of $75 1st yr, $48 after It has a $89 one-time processing fee.
• First Access Visa® Card: 34.99% APR. This card is for bad credit. It has an annual fee of $75 1st yr, $48 after that. It has an $95 one-time processing fee.

As you can see, the highest credit card interest rates are found on cards for people with bad credit. The better your credit is, the better your chance of getting a lower interest rate. But don’t forget that no matter how high or low your interest rate is, it will never affect you unless you carry a balance between months. If you always pay off your bill in full, you’ll never pay any interest unless you take out a cash advance. So, if you don’t spend beyond your means, interest rates shouldn’t be a huge consideration when you’re picking a credit card.

But if you’re not confident about your ability to pay in full, you should prioritize low interest rates in your search. Many cards will even offer you 0% interest for a number of months to start. But you’ll usually need at least good credit to get a 0% intro APR.

A good interest rate on a credit card is 14% and below. That is roughly the average regular interest rate on credit cards for people with excellent credit. Even a relatively good interest rate on credit cards for people with lower scores is not all that low. For example, credit card users with good or fair credit could pay interest at an annual rate of 20%+ and still have a below-average APR. Better-than-average for a credit card overall isn’t much below 20%, either. That’s why the best interest rate on a credit card is 0%.... read full answer

How to Get a Good Interest Rate on a Credit Card

There are three ways to get the best possible credit card interest rate.

For starters, lots of credit cards offer 0% APR periods as introductory perks for new customers. They can be a great help to people looking to finance a large purchase or transfer a debt to pay it off faster. But those intro periods are always temporary. Most (but not all) 0% APR credit cards require good credit or better, too.

The second way to avoid credit card interest altogether is to pay your full statement balance by the due date every billing period. Setting up automatic monthly bill payments from a bank account can be a big help with that. You can also try the “Island Approach”, which is a method of using multiple credit cards for different expenses. For example, you could use your lowest-rate card—maybe even a card with a 0% APR period—for things you’ll need to pay off over a period of time, and a rewards card for everyday purchases that you pay off every month. That way, you wouldn’t pay interest at all, no matter what rate you have on the rewards card.

Ultimately, there is also a number of things you can do to raise your credit score and, in turn, get a better shot at a good interest rate on your next credit card. Because if a low credit card APR is your objective, it truly pays to have an “excellent” credit score of 750 or higher