NEA Credit Card

NEA Credit Card Review

This is a cashback card issued by Bank of America. If you're wondering whether NEA Credit Card is the right card for you, read on.

Key Takeaways

• 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.
• Competitive APRs. NEA Credit Card has a variable purchase APR that ranges from 14.24% up to 24.24%.
• No annual fee. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your eligible purchases, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. NEA Credit Card charges a fee of 3% on balance transfers. For example, a balance of $1,000 could cost $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.
• Good or better credit required. You will have low approval odds if your credit score is below 700.

Pros & Cons of NEA Credit Card

The Good

The Bad

Potentially 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. There is then a variable purchase APR that ranges from 14.24% up to 24.24%. No annual fee. Free access to your credit score. Identity Theft Protection. Cardholders can earn rewards on their purchases. NEA Credit Card reports to multiple credit bureaus.

You need good credit to qualify. Does not offer a signup bonus. Charges a foreign transaction fee of 3%. You don't earn rewards on every purchase. Charges a 3% balance transfer fee

NEA Credit Card FAQ

Does NEA Credit Card have a cash back or rewards program?

This is a cashback card. This means you earn a percentage of your purchases as cash back rewards.

NEA Credit Card Rewards

Rewards rate (all purchases)	N/A
Max rewards rate	N/A
Annual rewards limit	N/A

What are the NEA Credit Card benefits?

It provides the following benefits:

• Free Credit Score
• Zero fraud liability
• Reports to major credit bureaus

What are the relevant APRs for NEA Credit Card?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

NEA Credit Card has a variable purchase APR that ranges from 14.24% up to 24.24%. The card has a variable balance transfer APR that ranges from 14.24% up to 24.24%. It also has a variable cash advance APR that ranges from 17.24% up to 29.24%.

The good news is this card does not charge a penalty APR if you are late on a payment.

What are the fees for NEA Credit Card?

The following fees apply:

NEA Credit Card Fees

Description
Cash Advance Fee Minimum	$10
Cash Advance Fee (%)	3%
Minimum Cash Advance Fee ($)	$10
Foreign Currency Transaction Fee	3%
No Annual Fee?
Annual Fee	$0
No Interest Grace Period for Late Payment	25 days
Late Fee Amount	$40

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.

Does NEA Credit Card report your account activity to credit bureaus?

Yes, NEA 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 NEA Credit Card

• Visit the NEA 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.