BankAmericard Cash Rewards Credit Card Review

The BankAmericard Cash rewards credit card is simply that: a credit card through Bank America which offers you the ability to earn cash back on your every day purchases. The bank boasts on its ability to let you earn cash back with no hoops and nothing to keep track of, but is this actually true? Read our review of the BankAmericard Cash Rewards credit card to learn more.

Here’s a review of the benefits you get when you apply online for the BankAmericard Cash Rewards Credit Card today:

5 / 5 stars     

BankAmericard Cash Rewards Credit Card: Cash in a Flash

This card is primarily a cash back rewards card meaning that when you use the card, you effectively get a percentage of your purchase back to you, kind of like an instant discount. You can earn 3% cash back on gasoline, 2% on groceries and 1% everywhere else, making this is a great daily use rewards credit card. Keep in mind however that you only get these higher rewards on the first $1500 spent every three months on gas and groceries combined; after that, you only get 1% until the next quarter. You don’t have to enrol in any sort of program to earn rewards and the cash back won’t expire; redeem it whenever you want for a check, statement credit or deposit into a Bank of America account.

This card also gives you some other good rewards. You get a $100.00 cash back credit if you spend $500 in the first ninety days of owning this card on qualifying purchases. And if you deposit your cash back into a Bank of America savings or checking account, you get 10% more cash back rewards. It’s a nice perk for current account owners and a good marketing scheme to attract new ones!

There’s no fancy loopholes to get more cash back, no programs to track and no weird ways to get more cash back; what you see is what you get and this is pretty well what BankAmericard promised.

Fees for the Privilege of BankAmericard Cash Rewards Credit Card

So what do you have to pay for the privilege of owning this simple card? It’s actually a fairly reasonable deal the bank has going on. There is no annual fee associated with this card, meaning that your cash back won’t get sucked out every year by fees. You can also take advantage of a 0% intro APR on purchases and balance transfers in the first twelve months of owning this card. If you use this in tandem with getting maximum cash back, you can earn a hefty amount of rewards and don’t pay interest on it so long as you pay the balance down. However, the balance transfer fee of 3% is still in effect, so don’t go too wild. After that, the APR on both varies wildly depending on your credit history from fairly low to rather high.

Keep in mind that the penalty APR and APR for cash advances is very high, so avoid being late and try to avoid doing cash advances as much as possible if you don’t want to pile on the debt. As long as you use this card responsibly, particularly in that first year, it shouldn’t cause you any grief in the fees department.

The BankAmericard cash rewards credit card may not be as well known as large issuers, but it’s worth a look. The rewards may not be quite as generous as other cards, but you can also just use it and not worry about enrolling in programs or keeping track of money spent (unless you really want to maximize your cash back). The program is good for people who use their credit cards for daily purchases rather than just large scale ones and there is no ambiguity about what you can use these rewards for: cash. If all of this sounds appealing to you, apply for the BankAmericard Cash rewards credit card today and enjoy!

5 / 5 stars     

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