The best BankAmericard benefit is an introductory APR of 0% for 15 billing cycles for purchases and 0% for 15 billing cycles for any balance transfers made in the first 60 days on balance transfers. There’s also rental car insurance that provides coverage up to $50,000 against damage and theft. Price protection refunds up to $250 per claim if you find a lower price on a new item within 60 days of the purchase date. And an extended warranty benefit adds an additional year to existing warranties of 3 years or less on eligible purchases. A $0 fraud liability guarantee is standard, too.
It’s also worth noting that the BankAmericard annual fee is $0. But the card does not offer rewards or a sign up bonus. So once the promotional rate expires, you may not find much value in the card.
If you want rewards or extra benefits, Bank of America Cash Rewards and Travel Rewards are better options. Each offers an attractive sign up bonus. You’ll also earn cash back or travel rewards.
The BankAmericard credit score requirement is at least 750. That means applicants generally need excellent credit for approval. There are exceptions from time to time, but people with scores below 750 won’t have good odds. A high credit score alone won’t even guarantee approval for the BankAmericard Credit Card.
The BankAmericard’s credit score requirement is just one element of its overall approval requirements. Bank of America will also consider other factors, such as your annual income and the amount of debt you have. You’ll have to meet certain personal requirements too. For example, you must be at least 18 years old with a physical U.S. mailing address. Bank of America also requires a Social Security number (SSN), Individual Taxpayer Identification number (ITIN) or passport.… read full answer
If you don’t meet the BankAmericard credit score requirement, consider some other options. People with bad credit (a score of 639 or less) can apply for the BankAmericard Secured Card. There are also a few options for students with limited/no credit history.
The best Bank of America credit card for bad credit is the BankAmericard Secured card because it is the only BofA card that accepts applicants with credit scores below 640, and its annual fee isn’t too high at $39. There are no one-time or monthly fees. But BankAmericard Secured does require a minimum $300 security deposit to open the account. The credit limit is equal the amount of the deposit, and the maximum deposit is $4,900. The security deposit is fully refundable after closing the account with no balance. BofA may even refund the deposit after 12+ months of on-time payments.… read full answer
The BankAmericard Secured card is designed for people with bad credit. Bad credit means a credit score of 639 or less. In this situation, it’s very hard to get approved for any Bank of America credit card that does not require a deposit. Consider secured cards from other issuers such as the Discover it Secured card or the Capital One Secured Mastercard. There are also unsecured cards for bad credit from other issuers. One good option is the Credit One Bank Platinum Visa.
Another way to get a Bank of America credit card with bad credit is to become an authorized user on someone else’s card. Authorized users share a credit line with the main cardholder. Information about the account gets placed on the user’s credit report. This can help a user build good credit if the primary cardholder uses the card responsibly. Only the primary cardholder is responsible for making payments. But customers with bad credit who want their own Bank of America credit card account will have to settle for BankAmericard Secured.
Here is the only Bank of America credit card for bad credit:
Card Name: BankAmericard Secured Credit Card
Annual Fee: $0
Min. Deposit: $300
Min. Credit Limit: $300
Reports to Credit Bureaus: Yes – Experian, Equifax and TransUnion
2nd Easiest BofA Card to Get: BankAmericard Credit Card for Students - available to people with limited/no credit
Best Non-BofA Card for Bad Credit: Discover it Secured - $0 annual fee
The best Bank of America credit card for bad credit is BankAmericard Secured. But it may not provide enough benefits to justify the $39 annual fee. It may be wiser to choose one of the other credit cards for bad credit that do not have annual fees.
The Discover it Secured card has a $0 annual fee. It requires a minimum $200 deposit with a $2,500 maximum. It also offers 2% cash back on the first $1,000 per quarter at gas stations and restaurants and 1% on all other purchases. Discover also matches all cash back earned during the first year on the first account anniversary.
Another good secured card choice is the Capital One Secured Mastercard. It has a $0 annual fee. There is a guaranteed $200 minimum initial credit limit with security deposit of $49, $99 or $200, based on creditworthiness. The maximum deposit is $1,000.
The best option when it comes to unsecured credit cards for bad credit is the Credit One Bank Platinum Visa. It has a $0-$99 annual fee, depending on creditworthiness. And it has a $300 minimum credit limit with no deposit required. The Platinum Visa offers 1% cash back on eligible purchases (determined after approval).
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