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  BankAmericard Cash Rewards Credit Card for Students

BankAmericard Cash Rewards Credit Card for Students

in Personal Credit Cards from Bank of America

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BankAmericard Cash Rewards Credit Card for Students

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Highlights
Highlights
Purchase APR  (Variable APR) 13.99% - 23.99%
Balance Transfer APR  (Variable APR) 13.99% - 23.99%
Credit Score Range 600 - 850
Annual Fee $0

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

Does BankAmericard Cash Rewards Credit Card for Students have a signup bonus?

Yes, BankAmericard Cash Rewards Credit Card for Students offers card users a signup bonus worth up to $200 after spending $1000.

Does BankAmericard Cash Rewards Credit Card for Students offer an annual loyalty bonus?

BankAmericard Cash Rewards Credit Card for Students doesn't offer a cash loyalty bonus.

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.

Does BankAmericard Cash Rewards Credit Card for Students have an introductory APR offer on balance transfers?

Yes, BankAmericard Cash Rewards Credit Card for Students offers an introductory APR rate on balance transfers of 0% for a period of up to 15 months.

BankAmericard Cash Rewards Credit Card for Students Balance Transfers
Description
Balance Transfer APR 13.99% - 23.99%
Balance Transfer Introductory APR 0%
Balance Transfer Intro APR Period (months) 15
Balance Transfer Fee % 3%
Balance Transfer Fee % After Intro Period N/A
Balance Transfer Fee Intro Period (days) N/A
Balance Transfer Fee Minimum $10

Does BankAmericard Cash Rewards Credit Card for Students have an introductory APR offer on new purchases?

This card does offer an introductory APR rate of 0% on qualified purchases for a period of up to 15 months.

BankAmericard Cash Rewards Credit Card for Students Purchase Intro Offer
Description
Introductory Rate 0%
Purchase Intro APR Period (months) 15

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 have a foreign transaction fee?

BankAmericard Cash Rewards Credit Card for Students charges a foreign transaction fee of 3%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $60. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge a foreign transaction fee.

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.

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Every Purchase (Points) 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. 2% cash back at grocery stores and wholesale clubs 1% cash back on all other purchases (3% and 2% cash back on the first $2,500 in combined choice each quarter)
Introductory Rate 0%
Purchase Intro APR Period (Variable APR) 15 months
No Annual Fee  
Annual Fee $0
No Interest Grace Period for Late Payment 25 days
Cash Advance Fee Minimum $10
Cash Advance Fee (%) Up to 3%
Minimum Cash Advance Fee ($) Starting at $10
Foreign Currency Transaction Fee 3%
Minimum Interest Charge $1.50
Returned Payment Fee Up to $29
Late Fee Amount Up to $40
Customer Type Student
Minimum Age 18
Co-signing Allowed  
Credit Score Range 600 - 850
Card Type
  • Cashback
  • Rewards
  • Student
  • Zero Percent
Card Network Mastercard
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Fraud Liability  
Extended Warranty  
Credit Card Benefits
  • Extended Warranty Protection
  • Fraud Liability
  • Free Credit Score
Free FICO Score  
Bonus Rewards Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.
No Blackout Dates  
Rewards Rates
  • Drug Store Purchases
  • Every Purchase
  • Gas
  • Groceries
  • Home Improvement Purchases
  • Restaurants
  • Warehouse Clubs Purchases
Signup Bonus $200
Rewards Type Cash Back
Cash Advance APR (Variable APR) 16.99% - 26.99%
Penalty APR (Variable APR) 29.99%
Purchase APR (Variable APR) 13.99% - 23.99%
Balance Transfer Introductory APR (Variable APR) 0%
Balance Transfer Intro APR Period (Variable APR) 15 months
Balance Transfer APR (Variable APR) 13.99% - 23.99%
Balance Transfer Fee Minimum $10
Balance Transfer Fee % 3%

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SUPERMONEY NET RECOMMENDATION SCORE

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