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BankAmericard for Students Review

overall rating

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The BankAmericard for Students offers an introductory 0% APR for 18 billing cycles on new purchases. Balance transfers completed within 60 days after account opening are eligible for 0% APR for 18 months. This no-annual-fee card, part of the Mastercard network, is a good option for students who want to tackle high-interest credit card debt.

BankAmericard® for Students

Overall Rating
BankAmericard® for Students
On Bank of America's Secured Site.
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 12.99% - 22.99% variable
Annual Fee $0
Rewards Earning Rate This card does not offer a rewards program.
INTRO PURCHASE APR 0% for 18 Billing Cycles
INTRO BALANCE TRANSFER APR 0% for 18 Billing Cycles
Balance Transfer Fee Either $10 or 3% of the amount of each transaction, whichever is greater.
Foreign transaction fee (%) 3%
how this card stacks up
When compared among all student cards in our database:
Low Interest
Security/Customer Experience
Low Fees
worst best

The BankAmericard Student Card is not one of our top-rated student credit cards. You can review our list of the best student credit cards for what we think are better options.

Full Review of BankAmericard for Students

  • Relatively long introductory APR period

  • No rewards program

  • 3% foreign transaction fee

  • Potentially high regular APR

Pros Explained

  • Relatively Long Introductory APR period: The BankAmericard for Students charges no interest for 18 billing cycles on either purchases or balance transfers, provided you complete the transaction within 60 days of opening an account. If you're making a major purchase or want to pay off a load of debt from another credit card, you'll have over a year to pay down your balance without interest charges constantly adding to it. That feature is a standout benefit for a student credit card. Most student cards don't have 0% APR promotional periods. The few that do offer them for a limited time. For example, the Discover it Chrome for students card offers 0% APR on purchases, but only for six months.

Cons Explained

  • No Rewards Program: Unfortunately, the BankAmericard for Students doesn’t have a rewards program, so you won’t earn points, miles, or cash back when you make a purchase. Admittedly, most student credit cards have limited rewards programs, but a few offer 1% to 2% cash back. For example, the Journey Student credit card from Capital One allows you to earn 1% cash back on every purchase you make. If you pay your bill on time, your cash-back rate will increase to 1.25%.
  • 3% Foreign Transaction Fee: The BankAmericard for Students charges you a 3% fee on every transaction you make outside the country. Over time, that fee can cause you to pay hundreds more than you intended to spend. If you're planning on spending a semester abroad or traveling overseas for spring break, you might want to leave this card at home—and look for another one, like the Deserve Edu Mastercard, that doesn't charge for international expenditures.
  • High APR: Like most student credit cards, the BankAmericard for Students could potentially charge you a high APR after the promotional rate expires. Depending on your credit score and income, it might be as high as a 22.99% variable.

This Card is Best For

  • Avatar for Annual Fee Averse Persona
    Resists or refuses an annual fee on principle or due to cost
    Annual Fee Averse
  • Avatar for Credit Builder Persona
    Motivated to create positive credit history
    Credit Builder
  • Avatar for College Student Persona
    Currently enrolled in an accredited four year college or university
    College Student

As the name says, this card is geared toward college students. More specifically, it’s geared toward college students carrying high-interest credit card debt who want to pay off that balance.

If you had $3,000 in credit card debt on a card with a 20.00% APR and a minimum payment of $90, it would take you 50 months to pay off your balance, and you’d repay a total of $4,416; interest charges would cost you $1,416.

However, you could save money if you transferred your balance to the BankAmericard for Students within the first 60 days of opening an account to take advantage of the 0% APR for 18 billing cycles and the introductory 3% balance transfer fee. If you kept making monthly payments of $90—and if your APR was 22.99% after the 18-month promotional offer expired—it would take you just 20 additional months to repay the remaining $1,470 of your debt. You would have paid down $1,620 of your $3,000 during the 18-month interest-free promotional period, but the 3% transfer fee would have added $90. And you’d repay a total of just $3,383. Completing a balance transfer would help you save $1,033, and you would have paid off your card balance sooner.

Standard Benefits

The BankAmericard for Students offers the following benefits, typical of most student credit cards: 

  • $0 liability guarantee on unauthorized transactions
  • View your FICO credit score for free online or through the mobile banking app

Cardholder Experience

The J.D. Power 2021 U.S. Credit Card Satisfaction Study ranked Bank of America fifth out of 11 national card issuers and gave the bank a score that was a bit below average.

You can reach Bank of America's customer service team 24 hours a day, seven days a week, by calling 1-800-732-9194.

Security Features

The card offers some basic security features that are common for all credit cards, including account monitoring and fraud alerts.

Our Verdict

The BankAmericard for Students is a solid choice for college students looking to finance a major purchase, such as a new computer. It also can be ideal for those in a very specific situation—namely, those burdened with high-interest debt from another card they're ready to start paying off. The card’s 0% APR for 18 billing cycles on balance transfers and purchases offers an efficient way to do both, potentially saving hundreds of dollars in interest charges for more than a year.  

However, once the promotional period expires, the card offers little value. With no rewards program and few benefits, it’s pretty bare-bones. Students who don’t already have a lot of debt are likely better off choosing another credit card that offers rewards so they can earn points or cash back on routine expenses.

Compare This Card
See how this card compares to similar cards
BankAmericard® for Students
overall rating
BankAmericard® for Students
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 12.99% - 22.99% variable
Annual Fee $0
INTRO PURCHASE APR 0% for 18 Billing Cycles
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.