BankAmericard Secured Credit Card Review

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

• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 22.99%
• No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. BankAmericard Secured Credit Card 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.
• 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.
• Secured card. This card requires a refundable deposit before you qualify for a line of credit. These cards are often used to improve the credit of people with poor credit or little credit history.
• Multiple credit card benefits. Includes generous credit card perks, such as price protection, and fraud protection.
• Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still qualify.

The Good	The Bad
No annual fee. Multiple credit card perks. Considers applicants with fair or poor credit. BankAmericard Secured Credit Card reports to multiple credit bureaus.	Higher than average purchase APRs. Does not offer a signup bonus. Does not offer rewards or cash back. Charges a foreign transaction fee of 3%. You don't earn rewards on every purchase. Charges a 3% balance transfer fee.

Is there a BankAmericard Secured Credit Card cash back or rewards program?

No, BankAmericard Secured Credit Card does not offer a rewards program.

What are the BankAmericard Secured Credit Card benefits?

BankAmericard Secured Credit Card provides the following benefits:

• Price Protection
• ID Theft Protection
• Reports to major credit bureaus

What are the relevant APRs for BankAmericard Secured Credit Card?

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 Secured Credit Card has higher than average purchase APRs.

BankAmericard Secured Credit Card has a variable purchase APR of 22.99%. The card has a variable balance transfer APR of 22.99% . It also has a variable cash advance APR of 25.99% .

What are the fees for BankAmericard Secured Credit Card?

The following fees apply to BankAmericard Secured Credit Card:

BankAmericard Secured Credit Card Fees

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

Does BankAmericard Secured Credit Card report your account activity to credit bureaus?

Yes, BankAmericard Secured Credit Card 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 may help improve your credit.

How to apply for BankAmericard Secured Credit Card

• Visit the BankAmericard Secured Credit Card 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 your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.