The BankAmericard interest rate is 0% for 15 billing cycles and 0% for 15 billing cycles for any balance transfers made in the first 60 days with a regular rate ranging from 12.99% - 22.99% Variable after that. The exact interest rate an applicant will receive upon approval depends on a number of factors such as income and credit score, among others. The better an applicant’s credit standing, the better the chances of landing an interest rate at the low end of the range. BankAmericard has a separate interest rate for cash advances (26.49%) and does not charge a penalty rate for late payments.
BankAmericard’s interest rate should not be an issue if you don’t take out any cash advances and pay off the entire balance by the due date each month. BankAmericard has a 25-day grace period starting at the close of each billing cycle. You will not be charged interest on purchases if you pay the balance in full during that timeframe. Cash advances are not covered by the grace period, so you’ll be charged interest daily at the cash advance interest rate as soon as you withdraw the cash.
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