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  BankAmericard Secured Credit Card

BankAmericard Secured Credit Card

in Personal Credit Cards from Bank of America

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BankAmericard Secured Credit Card

Unaffiliated

in Personal Credit Cards from Bank of America

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Highlights
Highlights
Balance Transfer APR  (Variable APR) 24.49%
Credit Score Range 300 - 850
Annual Fee $0
Purchase APR  (Variable APR) 24.49%

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.

Key takeaways:

  • High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 24.49%
  • 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 emergency support, extended warranty protection on purchases, price protection, travel assistance, 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.

BankAmericard Secured Credit Card Pros and Cons:

The Good The Bad
  • No annual fee.
  • Multiple credit card perks.
  • Extended warranty and price protection on purchases.
  • Free access to your credit score.
  • Travel assistance insurance
  • 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:

  • Free Credit Score
  • Emergency Support
  • Extended Warranty Protection
  • Zero fraud liability
  • Price Protection
  • Travel Assistance
  • 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 24.49%. The card has a variable balance transfer APR of 24.49% . It also has a variable cash advance APR of 27.49% .

Does BankAmericard Secured Credit Card have an introductory APR offer on balance transfers?

No, BankAmericard Secured Credit Card does not come with an introductory APR offer for balance transfers.

Does BankAmericard Secured Credit Card have an introductory APR offer on new purchases??

BankAmericard Secured Credit Card does not offer an introductory rate on new purchases.
BankAmericard Secured Credit Card Purchase Intro Offer
Description
Introductory Rate N/A
Purchase Intro APR Period (months) N/A

What are the BankAmericard Secured Credit Card fees?

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 have a foreign transaction fee?

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

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 can help improve your credit score.

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 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.

View BankAmericard Secured Credit Card's published terms & conditions.
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

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

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 Personal
Minimum Age 18
Co-signing Allowed  
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • Tax Returns
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Checking Account Required  
Credit Score Range 300 - 850
Card Type
  • Bad Credit
  • Secured
Card Network Mastercard
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Emergency Support  
Travel Insurance  
Fraud Liability  
Extended Warranty  
Credit Card Benefits
  • Emergency Support
  • Extended Warranty Protection
  • Fraud Liability
  • Free Credit Score
  • Identity Theft Protection
  • Price Protection
  • Travel Assistance
Rewards Type No Rewards
Cash Advance APR (Variable APR) 27.49%
Balance Computation Average daily balance (including new purchases).
Credit Limit $0
Purchase APR (Variable APR) 24.49%
Balance Transfer APR (Variable APR) 24.49%
Balance Transfer Fee Minimum $10
Balance Transfer Fee % 3%

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