In a Nutshell
If you’re looking to pay down credit card debt, there are three Bank of America balance transfer offers that could help.These offers are no longer available on our site: BankAmericard® credit card, BankAmericard® credit card for Students
Here are our picks for the best Bank of America balance transfer cards.
- Bank of America® Customized Cash Rewards credit card
- BankAmericard® credit card
- BankAmericard® credit card for Students
Bank of America® Customized Cash Rewards credit card
Bank of America® Customized Cash Rewards credit card
Here’s why: The Bank of America® Customized Cash Rewards credit card comes with rewards that could provide long-term benefits once your balance is paid down.
The Bank of America® Customized Cash Rewards credit card also offers a $0 annual fee and an intro 0% APR on purchases and on balance transfers. This introductory APR lasts for 15 billing cycles for purchases, and for balance transfers made in the first 60 days from account opening. After the intro period is up, there will be a variable APR of 18.49% - 28.49% on both balance transfers and purchases. Plus, the card charges a balance transfer fee of 3% for 60 days from account opening, then 4%.
If you think you can pay off your balance during the intro period and want a card with rewards, the perks could make this card worthwhile. Take a look at what the card has to offer.
First, there’s a sign-up bonus: Earn $200 in online cash rewards after spending at least $1,000 on purchases within the first 90 days of account opening (just be careful that you’re not adding to your debt).
You can also earn rewards for your spending in certain categories. Once a month, you can choose one category to earn 3% cash back: gas and EV charging stations, online shopping/cable/streaming/internet/phone plan, dining, travel, drugstores, or home improvement and furnishings. You’ll also earn 2% back at grocery stores and wholesale clubs. Just know that each quarter, you can only earn the 3% cash back in your choice category and 2% back at grocery stores and wholesale clubs on the first $2,500 in combined choice category/grocery store/wholesale club purchases. You’ll get unlimited 1% cash back on all other purchases and after the quarterly cap is met.
BankAmericard® credit card
Here’s why: The BankAmericard® credit card offers an intro 0% APR for 18 billing cycles on purchases and balance transfers. But there are a few things you should know.
- You have to transfer your balance within the first 60 days of your account opening to qualify for the intro APR offer.
- After the 18 billing cycles are up, there will be a variable APR on purchases and balance transfers of 15.49% to 25.49%.
- There’s a balance transfer fee: 3% of the amount of each transaction during the first 60 days your account is open. After that, the fee is 4%.
It also charges a $0 annual fee.
Learn more about the BankAmericard® credit card to take a closer look.
BankAmericard® credit card for Students
Here’s why: If you’re a student focused on paying down debt while also learning how to build good credit habits, the BankAmericard® credit card for Students could be the card for you.
The card comes with an intro 0% APR on purchases and balance transfers for the first 18 billing cycles — as long as you transfer your balance in the first 60 days your account is open. But you’ll pay a balance transfer fee of 3% of the amount of each transaction during the first 60 days your account is open. After that, the fee goes up to 4%. After the intro 0% APR period, there’s a variable APR on purchases and balance transfers of 15.49% to 25.49%.
For students who have some credit card debt to pay down and are trying to build credit history, these features could help.
How to make the most of balance transfer cards
No matter which Bank of America card you might choose, know that regular interest rates kick in after the intro APR expires.
Make sure you pay off any balance transfers and purchases before the rates go up to avoid paying interest.