Top Bank of America Credit Cards

June 16, 2016, Written By Bill Hardekopf

Bank of America is one of the largest financial institutions in the world, and they offer a full array of credit cards. Shopping for a credit card can be overwhelming, with all the different rates, fees and rewards that are offered. Here are the top three Bank of America credit cards on the market today. All three cards require the applicant to have an excellent credit score.

BankAmericard® Credit Card

bankamericardThe BankAmericard® Credit Card is one of the better low interest credit cards on the market today. Consumers can get an interest rate ranging from 11.24% to 21.24% variable APR, depending on your credit worthiness. The card offers new cardholders 18 billing cycles of 0% APR promotional financing on balance transfers that are completed within 60 days of opening your account. But there will be a 3% balance transfer fee. When the promotional rate expires, the remaining unpaid balance will be subject to the standard rate of 11.24%  to 21.24% variable APR. The card has no annual fee. The card does not have a rewards program, and there is a 3% foreign transaction fee on all charges processed outside of the United States. The card has a penalty interest rate of 29.99% that will apply when you make a late payment.

BankAmericard Cash Rewards Credit Card

The BankAmericard Cash Rewards Credit Card is an outstanding cash back card. It offers 1% cash back on all purchases, but 2% on transactions made at grocery stores and at wholesale clubs, and 3% on gas, up to the first $2,500 in combined grocery/wholesale club/gas purchases each quarter.  Cardholders receive a 10% relationship bonus on cash back earned if they redeem the cash back rewards into a Bank of America checking or savings account. So, in effect, the card offers Bank of America checking and savings customers 2.2% cash back at grocery stores and wholesale clubs, 3.3% cash back on gas and 1.1% cash back on all other purchases. New customers can earn a $100 sign-up bonus after spending $500 in the first 90 days of being a cardholder. In addition, new applicants will get 12 billing cycles of 0% APR on both new purchases and balance transfers. The balance transfers must be completed within 60 days of account opening, and a 3% balance transfer fee applies. After the introductory financing period ends, a standard rate of 13.24% to 23.24% variable APR will apply, based on your creditworthiness. The card has no annual fee but there is a 3% foreign transaction fee on transactions made outside of the United States.

BankAmericard Travel Rewards® Credit Card

bankamericard-travelBank of America also offers a very competitive card for the the traveler: the BankAmericard Travel Rewards Credit Card®. The card offers 1.5 points per dollar spent on all purchases with no limit, and the rewards never expire. Each point is worth one cent as a statement credit towards travel purchases, including hotels, flights, vacation packages, rental cards, cruises and baggage fees. Cardholders receive an additional 10% customer points bonus on every purchase when you have an active Bank of America® checking or savings account. New cardholders can earn 20,000 bonus points if they spend $1,000 on their card within the first 90 days of opening the account. That is worth $200 in travel statement credits. New customers will get 12 billing cycles of 0% APR on new purchases. After the introductory rate expires, the standard rate of 15.24% to 23.24% variable APR will apply, depending on your credit worthiness. The card has no annual fee, and something very important to travelers: no foreign transaction fees will be placed on transactions made outside of the United States.

Other Benefits

All three of these cards have some other significant benefits. These cards all come with chip technology, which provides added security at chip-enabled merchant terminals and allows you to use the card anywhere in the world. Cardholders receive access to account alerts and online banking, as well as a paperless statement option and a $0 Liability Guarantee, so you’re not responsible for any fraudulent charges made on your account. Optional overdraft protection is also available to help prevent declined purchases, returned checks or other overdrafts when you link your eligible Bank of America checking account to your credit card, although transfer fees may apply. In addition, Bank of America also offers cardholders their monthly FICO credit score when they enroll in online banking.

The information contained within this article was accurate as of June 16, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Bill Hardekopf

Bill Hardekopf is the CEO of and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
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