BankAmericard Credit Card Review

The BankAmericard credit card credit limit will vary based on each applicant's creditworthiness, with many cardholders reporting initial credit limits from $1,000 to $15,000 in some online forums. Your BankAmericard credit card credit limit will depend on a number of factors, such as your credit history, income and debt. 

Factors that influence your BankAmericard credit card credit limit:

There is no disclosed minimum or maximum credit limit. However, the card does require excellent credit. Plus, some applicants with credit scores in this range reportedly get an initial credit limit of $10,000 or more.

To receive a high credit limit, you will need a stellar credit score, enough income to make at least the minimum payment each month, and very little existing debt. The stronger your credit profile, the higher you can expect your starting credit limit to be. However, you won't know your exact credit limit until you're approved.

Here's what you should know about BankAmericard credit card credit limit increases:

• Whatever your starting BankAmericard credit card credit limit happens to be, you can request an increase either through your online account or by calling the number on the back of your card.
• Your chances of getting a credit limit increase are best if you've had the card for at least six months with no late payments during that time. If your income has gone up or if your debt was reduced from when your first received the card, that will also help your chances.
• If you request a credit limit increase, Bank of America will pull a copy of your credit report. This may result in a hard inquiry, which might temporarily drop your credit score by a few points. 

Bank of America may occasionally review your account to see if you're eligible for an automatic credit limit increase. However, there's no guarantee when or if you'll get one. BankAmericard credit card automatic credit limit increases will trigger a soft inquiry and will not affect your credit score.

The BankAmericard® credit card foreign transaction fee is 3%. This means Bank of America will add a 3% surcharge anytime you use the BankAmericard® credit card outside of the United States. The 3% fee also applies to online purchases made through an internationally-based merchant. 

Alternative Credit Card Option:

There are several credit cards on the market that don't charge foreign transaction fees. And they are available to people of all credit levels, from bad credit to excellent credit. You can check out our editors' latest picks for the best no foreign transaction fee credit cards to weigh your options.

A good example is the Bank of America® Travel Rewards credit card. In addition to a 0% foreign transaction fee, this card offers 25,000 points for spending $1,000 in the first 90 days, plus 1.5 points per $1 spent on purchases. The card's annual fee is also $0.

Your BankAmericard balance transfer limit will be a portion of your entire credit limit. And as credit limits are individualized, there isn't a general balance transfer limit. You can look up yours on your monthly statement or by calling Bank of America's customer service department at 800-732-9194.

Your BankAmericard credit card approval odds are good if your have excellent credit (a credit score of 750+). It's also important to have a high annual income and little existing debt. Bank of America will also review several other key criteria, too, including the applicant's payment history, employment status, monthly housing payments, number of open credit accounts and more.

Before you apply, consider using Bank of America's pre-approval tool. You won't be able to search for the BankAmericard credit card specifically, but the pre-approval tool will display all Bank of America cards for which you may qualify. Pre-approvals are done using a harmless soft inquiry. But if you then decide to apply for a card, Bank of America will perform a hard inquiry, which can cause a short-term drop in your credit score. Keep in mindthat being pre-approved indicates that you have good odds, but doesn't guarantee that you will get the card.

If you don't know where you stand in terms of your credit, you can check your credit score, right here on WalletHub. If your credit profile falls outside of the BankAmericard credit card's range, you may want to consider applying for one of the other BankAmericard credit card-branded offers. College kids with excellent credit should be eligible for the BankAmericard® credit card for Students. In addition, the BankAmericard® Secured Credit Card is open to applicants with bad credit.

Yes, the BankAmericard credit card has an introductory purchase APR of 0% for 21 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 15.99% - 25.99% 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 low intro APR for balance transfers, lasting 21 billing cycles for any balance transfers made in the first 60 days. It is accompanied by a balance transfer fee of 3%.

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.

The BankAmericard credit card has a grace period of at least 25 days, lasting from the end of each billing cycle until the payment due date. If cardholders pay their BankAmericard credit card statement balance in full every month, Bank of America will not charge any interest.

Keep in mind that you are not required to pay the entire balance by the due date. But if you decide to pay less than the full amount due, you will lose the grace period. The remaining BankAmericard credit card balance and any new purchases will then start to accrue interest that compounds daily. To get a credit card grace period back, you will need to pay the statement balance in full for two consecutive months.

It's also important to note that grace periods do not apply to cash advances or balance transfers.

The BankAmericard credit card does not offer rental car insurance. But there are other Bank of America cards that do have this benefit, which covers physical damage and theft of a rental vehicle, reasonable towing costs, and any valid loss-of-use charges from the rental agency. Cardholders are covered up to up to the actual cash value of the rented vehicle.

To get coverage, a cardholder must pay for the rental entirely with an eligible Bank of America credit card or reward points. Examples of eligible cards include the Bank of America Travel Rewards credit card and Bank of America Premium Rewards credit card.

If you'd like a credit card with rental car insurance, there are plenty of options outside of Bank of America, too.

The best BankAmericard credit card benefit is an introductory APR of 0% for 21 billing cycles for purchases, coupled with 0% for 21 billing cycles for any balance transfers made in the first 60 days. Plus, apart from $0 fraud liability guarantee, some cardholders may also get several other benefits like price protection and extended warranty.

Here are some of the best BankAmericard credit card benefits:

• Introductory purchase APR: 0% for 21 billing cycles. After the introductory period is over, remaining balances are subject to the card's regular APR of 15.99% - 25.99% Variable (based on creditworthiness).
• Introductory balance transfer APR: 0% for 21 billing cycles for any balance transfers made in the first 60 days. Balance transfers are subject to a 3% fee. Once the intro period is over, remaining balances are subject to the card's regular APR of 15.99% - 25.99% Variable (based on creditworthiness).
• $0 annual fee: $0 extra costs just for having the card.
• Extended warranty: Lengthens the original manufacturer's warranty for eligible items. For more extended warranty details, you can consult your benefits guide or call the number on the back of your card to request a copy. Keep in mind that extended warranty is not guaranteed with this card and not all cardholders may have this benefit. 
• Price protection: Reimburses the difference up to a set amount between the purchase price of an item and a lower price advertised within a specific time frame. For more price protection details, you can consult your benefits guide or call the number on the back of your card to request a copy. It is worth noting that price protection is not guaranteed with this card and not all cardholders may have this benefit. 
• $0 fraud liability: You won't be held responsible for unauthorized charges made with your card or account information.
• Digital wallet options: You can add your BankAmericard credit card to your mobile device and shop in-store or in-app using a variety of digital wallets.

BankAmericard credit card is primarily designed as an option for those looking to finance their purchases or transfer existing debt.

If you want more rewards, the Bank of America® Customized Cash Rewards credit card and the Bank of America® Travel Rewards credit card are better options. Both cards offer attractive bonuses and ongoing rewards. If you're not tied to Bank of America as an issuer, feel free to also check out some of the best rewards credit cards on the market.

The BankAmericard® credit card is a Mastercard, not a Visa. You can use your BankAmericard credit card at nearly 11 million merchants that accept Mastercard nationwide, and you can use it abroad in more than 200 countries and territories.

There are a few differences between Visa and Mastercard credit cards, such as the network-level benefits they offer, but those differences are relatively small. The two card networks have a lot in common, including extensive worldwide acceptance. As a result, it's more worthwhile to compare individual credit card offers than to focus on getting a card from a particular network.

The BankAmericard® credit card credit score requirement is at least 750. That means people with excellent credit have a shot at getting approved for the BankAmericard credit card.

Other factors to consider when applying for the BankAmericard credit card:

You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the BankAmericard credit card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.

If you excel in other areas, you might be able to get approved with a slightly lower credit score in some cases. But it's best to apply only after you meet the BankAmericard credit card credit score requirement. You can check your credit score for free, right here on WalletHub.