BankAmericard Cash Rewards Credit Card for Students Review

BankAmericard Cash Rewards Credit Card for Students is a cashback credit card issued by Bank of America. If you're wondering whether BankAmericard Cash Rewards Credit Card for Students is the right card for you, read on. This is everything you need to know to make a good choice.

Key takeaways:

• Generous reward rate. You will get a cashback rewards rate of up to 3%.
• Earn 1% cash back on everyday purchases.
• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 15 months, which is longer than the average 0% APR period of 12 months.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 15 months.
• Signup bonus. Offers a signup bonus of $200 if you spend $1000 within 3 months.
• Competitive APRs. BankAmericard Cash Rewards Credit Card for Students has a variable purchase APR that ranges from 13.99% up to 23.99%.
• No annual fee. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. BankAmericard Cash Rewards Credit Card for Students charges a fee of up to 3% on balance transfers. For example, a balance of $1,000 could cost up to $30 in transfer fees. The minimum fee is $10.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Student credit card. This card is geared toward students. In other words, college students with limited credit history and low incomes can still apply, especially if they have a cosigner ready to vouch for them.
• Accepts cosigners. Bank of America is one of the few credit card issuers that allows applicants to include a cosigner. Adding a cosigner can really improve your approval chances if your credit is not great.
• Fair or better credit required. You stand a chance of qualifying if your credit score is not below 600.

BankAmericard Cash Rewards Credit Card for Students Pros and Cons:

The Good

The Bad

Lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers for up to 15 months. 0% APR on new purchases during the first 15 months. No annual fee. Extended warranty on purchases. Free access to your credit score. Considers applicants with fair or poor credit. Cardholders can earn rewards on every purchase. Earn rewards on every purchase. BankAmericard Cash Rewards Credit Card for Students reports to multiple credit bureaus. Cardholders can earn rewards on their purchases.

Charges a foreign transaction fee of 3%. Charges a 3% balance transfer fee.

Is there a BankAmericard Cash Rewards Credit Card for Students cash back or rewards program?

BankAmericard Cash Rewards Credit Card for Students is a cashback card. This means you earn a percentage of your purchase as a cash reward. With BankAmericard Cash Rewards Credit Card for Students you receive 1% cash back on every purchase. For example, if you buy a $1,000 laptop, you will receive $10 back in cash. However, you can earn up to 3% for purchases in a bonus category.

BankAmericard Cash Rewards Credit Card for Students Rewards

Rewards rate (all purchases)	1%
Max rewards rate	3%
Annual rewards limit	N/A
Signup Bonus ($)	$200
Signup Bonus Spend Requirement	$1000
Signup Bonus Spend Period (months)	3 months

What are the BankAmericard Cash Rewards Credit Card for Students benefits?

BankAmericard Cash Rewards Credit Card for Students provides the following benefits:

• Free Credit Score
• Extended Warranty Protection
• Zero fraud liability
• No blackout dates when redeeming miles
• Reports to major credit bureaus

What are the relevant APRs for BankAmericard Cash Rewards Credit Card for Students?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. BankAmericard Cash Rewards Credit Card for Students has lower than average purchase APRs.

BankAmericard Cash Rewards Credit Card for Students has a variable purchase APR that ranges from 13.99% up to 23.99%. The card has a variable balance transfer APR that ranges from 13.99% up to 23.99%. It also has a variable cash advance APR that ranges from 16.99% up to 26.99%. Note that late payments are subject to an APR of 29.99% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

What are the fees for BankAmericard Cash Rewards Credit Card for Students?

The following fees apply to BankAmericard Cash Rewards Credit Card for Students:

BankAmericard Cash Rewards Credit Card for Students Fees

Fees	Amount
Annual Fee	$0
Foreign Transaction Fee	3%
Returned Payment Fee	up to $29
Late Payment Fee	up to $40

Does BankAmericard Cash Rewards Credit Card for Students report your account activity to credit bureaus?

BankAmericard Cash Rewards Credit Card for Students reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

How to apply for BankAmericard Cash Rewards Credit Card for Students

• Visit the BankAmericard Cash Rewards Credit Card for Students website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.