Note: We may earn commissions (at no cost to you) if you buy through links on our site. Learn more.

BankAmericard® Secured Credit Card review

Compare Compare  
Advertiser Disclosure

Annual Fee
$0.00
Minimum Deposit
$300.00
Interest Rate: Purchases
24.99% (Variable)
Balance Transfer
24.99% (Variable)


6.8/10
Informr score
The BankAmericard® Secured Credit Card currently has an Informr score of 6.8 out of 10. This score is based on our evaluation of 13 sources including reviews from users and the web's most trusted critics.

Am I eligible?


BankAmericard® Secured Credit Card is typically available to those with poor credit scores (650 or greater).
To get this card, you must also:
Yes Be a permanent or temporary resident of USA
Yes Provide a minimum security deposit of $300.

Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.

What the Critics Are Saying...


Investopedia
Investopedia

While the BankAmericard Secured credit card from Bank of America has no annual fee, and it may return your security deposit to you after a period of time, it offers few other benefits. It has a high APR on purchases, charges foreign transaction fees, and requires a larger security deposit than many...

- Kat Tretina, Matthew Klammer, Investopedia
LendEDU
LendEDU

If you want a simple secured credit card with no fees to help you build credit, the BankAmericard Secured Credit Card is an OK choice — but it’s not a great one. Consider the Discover it Secured rewards card or another secured card to earn cash back as you build credit.

- Christy Rakoczy, LendEDU
Forbes
Forbes

Is your credit score puny? The BankAmericard® Secured Credit Card could be a strong choice for pumping up or rebuilding your credit. It doesn’t charge an annual fee or account opening charge, so it’s a good choice as long as you can swing the $300 minimum opening deposit. But once you get your score...

- Robin Saks Frankel, Forbes
The Balance
The Balance

It is designed to help those with poor credit or limited credit histories make improvements in their credit scores. You won’t pay an annual fee like you must for many other secured cards—but you won’t get special benefits or perks, either.

- Dawn Papandrea, Marisa Figat, The Balance
Bankrate
Bankrate

Considering that cardholders don’t have to worry about an annual fee and are charged a reasonable APR for this type of card, the BankAmericard Secured Credit Card is worth applying for. While it can do with a few extra benefits or the introduction of a rewards program, it does what it sets out to do...

- Bankrate

Details


Interest Rates
Regular APR Interest Rate 24.99% (Variable)

This APR will vary with the market based on the Prime Rate.

Balance Transfer Interest Rate 24.99% (Variable)

This APR will vary with the market based on the Prime Rate.

Cash Advance Interest Rate 27.99% ‐ 29.99% (Variable)

This APR will vary with the market based on the Prime Rate.

Rates & Fees
Annual Fee $0.00
Balance Transfer Fee 3%

Minimum of $10

Cash Advance Fee 5%

Minimum of $10

Foreign Transaction Fee 3%

Of each transaction in U.S. dollars.

Over Limit Fee $0.00
Late Payment Fee $40.00

Maximum

Promotions
Sign up bonus No
Rewards
All Purchases No
Restaurants No
Gas No
Groceries No
Hotels No
Travel No
Pharmacy No
Bills No
Features & Benefits
Additional Card Holders Yes
Travel Accident Insurance No
Car Rental Insurance No
Car Rental Discount No
Extended Warranty No
Purchase Protection No
Zero Liability Yes
No Foreign Transaction Fees No
Emergency Assistance No
Concierge Service No
Price Protection No
Fraud Protection Yes
Free Credit Scores Yes
Wireless Payments Apple Pay, Samsung Pay, Google Pay
Virtual Cards No
Additional Benefits
  • Online Shopping Security
  • Overdraft Protection
Eligibility
Minimum Security Deposit $300
Minimum Age 18
Minimum Personal Income
Temporary Residents No
More
Additional comments -
Terms & Conditions Official Terms & Conditions
Suggest a correction

Disclaimer: All products, logos, images and trademarks are the property of their respective owners. Content is not provided or commissioned by any company mentioned. Any views, analyses, or recommendations expressed here are those of the author's alone, and may not have been reviewed, approved or otherwise endorsed by any company mentioned.

Information in this article is believed to be accurate at the time it was written, but terms and conditions may change at any time. All information is presented without warranty or guarantee. Please verify all terms and conditions of any credit card prior to applying.

Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

The Informr is an independent, advertising supported website and may receive compensation for sponsorships or when you click on certain affiliated links.

Use this card?

Help inform others by sharing your experience with BankAmericard® Secured Credit Card

Rate It: