Chip Lupo, Credit Card Writer
@CLoop
Yes, the BankAmericard credit card has an introductory purchase APR of 0% for 18 billing cycles after account opening. Once this intro period expires, any remaining balance on the BankAmericard credit card will be subject to the regular APR of 14.49% - 24.49% Variable.
Since the average 0% intro APR for new purchases lasts 12 months, the BankAmericard credit card offer is above average. The BankAmericard credit card also has a 0% intro APR for balance transfers, lasting 18 billing cycles for any balance transfers made in the first 60 days. It is accompanied by a balance transfer fee of 3% for 60 days from account opening, then 4%.
It’s important to remember that even though you don’t pay interest during 0% APR periods, you still must make timely minimum payments each month. You should also consider paying more than the minimum, since you’ll want to pay off the credit card balance before the regular APR kicks in. For help planning your payments, try out WalletHub’s Credit Card Calculator.
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How do I extend 0% APR on a credit card?
You can potentially extend a 0% APR on a credit card by calling the credit card company and asking them if they can extend the promotion. Success could depend on which credit card company it is, your relationship with them, your current account balance, and other factors that the credit card company won’t publicly disclose. There is no exact science to getting an extension on a 0% APR period, and it’s unlikely to work. So...
read full answer by Christie Matherne, Credit Card WriterWhat 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 on purchases and balance transfers, with a 3% for 60 days from account opening, then 4% balance transfer fee on the BankAmericard® credit card. Regular, ongoing Bank of America credit card interest rates can be as low as 14.49% (V) or as high as 27.49% (V), depending on the card and the applicant’s credit standing.
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Do 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...
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