Am I eligible?
To get this card, you must also:
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...
- Kat Tretina, Matthew Klammer, InvestopediaWhile 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...
- Dawn Papandrea, Marisa Figat, The BalanceIt 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.
- CardcruncherOffers a number of attractive features. You can qualify after making a security deposit of at least $300, and customize your credit limit by increasing that deposit to as much as $4,900. As you use the card, Bank of America will review your activity, and may eventually return your deposit to you. Th...
- Monica Kowollik, Credit FastWho could benefit from having the BankAmericard secured credit card? Anyone that needs to rebuild their credit or learn how to use a card responsibly can benefit. It’s a good beginner card with solid benefits and not a lot of drawbacks. So if you need to rebuild, build, or reestablish your credit, w...
- Christy Rakoczy, LendEDUIf 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.
Details
| Interest Rates | |
|---|---|
| Regular APR Interest Rate |
23.24% (Variable) This APR will vary with the market based on the Prime Rate. |
| Balance Transfer Interest Rate |
23.24% (Variable) This APR will vary with the market based on the Prime Rate. |
| Cash Advance Interest Rate |
26.24% ‐ 29.24% (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 |
|
| 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 |
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