BankAmericard® credit card for Students Review: Does Its Lengthy 0% APR Offer Live Up to the Hype?
Spoiler Alert: It does, and I wish I had this card when I was in college 20 years ago.
By: Laura Gariepy
Laura Gariepy, Contributing Expert
Laura is a personal finance expert who primarily focuses on credit, credit cards, loans, and other consumer-facing topics. Her insights have been featured in U.S. News & World Report, Fortune, Yahoo Finance, The New York Post, USA Today, and many other financial publications. She also earned her MBA and a Bachelor's Degree in Psychology during her previous career in human resources.
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Editor: Jon McDonald
Jon McDonald, Managing Editor
Jon leverages 15-plus years of journalism expertise to inform financial consumers about emerging trends and companies making an impact in the industry. He is most knowledgeable in the areas of budgeting, credit card rewards, and responsible credit use. Jon has a passion for writing and editing, and his articles have appeared in publications produced by The New York Times.
Ashley Fricker has more than a decade of experience as a finance contributor and editor, and has specialized in the credit card industry since 2015. Her credit card commentary is featured on national media outlets that include CNBC, MarketWatch, Investopedia, and Reader's Digest, among many others. She has worked closely with the world’s largest banks and financial institutions, up-and-coming fintech companies, and press and news outlets to curate comprehensive content and media. Ashley holds a bachelor's degree in multimedia journalism from Florida Atlantic University.
Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.
Back in my college days, sales representatives would visit my campus and offer a free T-shirt or water bottle in an attempt to lure me into applying for an account with horrible terms.
I must admit, I took a few of them up on their offers. And I’m relieved that none of those applications turned into a lesson I had to learn the hard way.
Luckily, things have changed. For one, credit card companies can’t solicit applications from students on campus anymore. But the options have also gotten a lot better. Today, there are some really solid cards designed for college students.
One of those cards is the BankAmericard® credit card for Students. Keep reading to learn why I would’ve swooned over this card two decades ago and how to apply for it today.
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What to Expect From the BankAmericard® credit card for Students
Bank of America markets this card to college students who want to establish healthy credit behaviors and build their financial profiles. Oh, and also students who aren’t interested in paying interest.
I wasn’t a stats major, but I think that has to be 100% of students. Here are a few key features of the account:
An Unsecured Card With a $0 Annual Fee
The BankAmericard® credit card for Students is unsecured, so you won’t have to dip into your bank account to pay a security deposit.
Plus, there’s a $0 annual fee, so you can afford to keep this card long-term, which increases your average age of accounts and potentially boosts your credit score.
Disclosure: When you apply through links on our site, we often earn referral fees from partners. For more information, see our ad disclosure
Advertiser Disclosure
CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.
Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.
0% Intro APR for 21 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 15.24% – 26.24% will apply. A 5% fee applies to all balance transfers. Balance transfers may not be used to pay any account provided by Bank of America.
No annual fee.
No penalty APR. Paying late won’t automatically raise your interest rate (APR). Other account pricing and terms apply.
When handled responsibly, a credit card can help you build your credit history, which could be helpful when looking for an apartment, a car loan, and even a job.
This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Intro (Purchases)0% Intro APR for 21 billing cycles for purchases
Intro (Transfers)0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days (Balance Transfer Fee 5% of the amount of each transaction)
Regular APR15.24% – 26.24% Variable APR on purchases and balance transfers
Annual Fee$0
Credit NeededExcellent/Good
Additional Disclosure: Bank of America is a CardRates advertiser.
However, this card may not be ideal for studying abroad, as you’ll pay a 3% foreign transaction fee every time you use it for international purchases.
0% Intro APR on Purchases and Balance Transfers
I tended to carry a balance on my credit cards when I was in college, and paying the interest over months (and sometimes years) made my bank account weep. That’s why I really appreciate the BankAmericard® credit card for Students.
When you open an account, you’ll get a 0% introductory annual percentage rate (APR) for 21 months on purchases and balance transfers. And you’ll need to complete balance transfers within the first 60 days.
The BankAmericard Credit Card for Students has a simple, but powerful, 0% intro APR offer.
With such a long interest-free window, you could buy a laptop, textbooks, or housewares for your dorm for the same as cash or refinance high-interest debt from other cards.
Remember, though, you must pay off the entire balance before the introductory period ends. Otherwise, the remaining debt will be subject to the card’s standard APR.
Important note: While moving debt from a high-interest account to this card can reduce the interest you pay, you’ll be charged a 5% balance transfer fee, which you should plan for.
Balance Connect and Penalty APR Protection
As a college student, you likely juggle some combination of classes, sports, work, family matters, and social outings. It’s a lot, so you may forget to track your balance and end up overdrawing your checking account.
That’s where Bank of America’s optional Balance Connect® overdraft protection comes in. You can link your credit card to your Bank of America checking account to prevent declined purchases or returned checks.
If a transaction would overdraw your checking account, funds will be transferred from your credit card to cover it (assuming you have enough available credit for cash advances).
While this feature can come in handy, it comes at a cost. The bank classifies the transfer as a Bank Cash Advance, which immediately begins accruing interest at a higher variable APR.
But what happens if you forget to pay your credit card bill? You may be charged a late payment fee of up to $41. However, you don’t have to worry about your interest rate skyrocketing (and staying in the stratosphere for a while) because the card doesn’t have a penalty APR.
Mobile App and Customer Support
With the Bank of America mobile app, you can do things like:
Activate your credit card and add it to your digital wallet (Apple Pay or Google Pay)
View your account balance and activity
Make payments
Set account alerts
Manage all of your Bank of America and Merrill accounts in one place
The app is very well rated, earning 4.8 out of 5 stars in the Apple App Store and 4.6 out of 5 stars in the Google Play Store.
However, some customers complained about recent updates making the app harder to use and the app lacking certain features, such as the ability to set a custom autopay amount.
Credit Tools and Free Monthly FICO® Score Access
Your BankAmericard® credit card for Students gives you free access to your FICO® credit score and credit monitoring. This feature also allows you to:
Review your credit report to ensure it’s accurate
Get alerts about suspicious activity on your credit profile
See personalized insights about your credit score
This information can help you track your progress over time, spot potential issues, and adjust your credit-building strategy as needed.
Service Channels and Responsiveness
I was very pleased with the customer service I received from the two friendly representatives I interacted with via live chat on the Bank of America website. I didn’t have to wait long to connect with them, and they provided clear answers to my questions.
The bank also states that phone support is available 24/7. I called 1-800-732-9194 on a Sunday morning to test it out.
I initially encountered an automated system. One of the prompts asked me for the last four digits of my account number or SSN. Since I’m not a Bank of America customer, I couldn’t provide a partial account number.
I couldn’t find a way to speak with a human as a non-customer. But it makes sense that Bank of America would want to save its representatives for cardholders, especially on a Sunday.
Given the responsiveness of the representatives over chat, I’m positive I would have had a better experience if I were a current customer with an account number.
What Credit Score You Need to Qualify
The bank doesn’t publicly disclose credit score requirements. However, even though this card is designed for students, you may need good to excellent credit to qualify.
Based on an online chat session I had with a customer service representative, you must meet the following criteria to be eligible for the card:
Be age 18+
Be a U.S. citizen or resident alien
Have a valid Social Security Number (SSN) or tax ID number
Have a valid U.S. physical address and phone number
Have a valid email address
The rep said that student status verification may be required. They confirmed that there was no minimum credit score or debt-to-income requirement they could reference.
The approval or denial “decision is based on your overall credit history, ability to pay, and the application information you provide,” they noted.
Another online chat representative told me that if you have an existing relationship with the bank, it will be considered when evaluating your application.
The first representative’s guidance is consistent with the CARD Act of 2009, which states that the credit card issuer must consider an applicant’s ability to repay the debt before it can approve a new account or a credit limit increase.
Per the law, if you’re under 21, you must demonstrate that you can make at least the minimum payments independently, or have a qualifying cosigner. However, the second representative informed me that Bank of America doesn’t accept cosigners on credit card applications.
Potential Credit Limit (And How Increases Work)
Bank of America doesn’t publish initial credit limit ranges for this card, but I found that student accounts from this issuer typically start at $500.
Your beginning purchasing power will vary based on your income, creditworthiness, and other factors.
Credit line increases are possible, and you may see an option to request one when you log in to your online account. If you don’t, you can call customer service to inquire.
Tip: Manage your account responsibly for at least six months before considering asking for a credit limit boost. You’re more likely to get it if you’ve already demonstrated you can handle the credit line you have.
How to Apply (A Walkthrough of Every Step)
If you’re not sure you’re eligible for the BankAmericard® credit card for Students, you can prequalify for the card. The bank will run a soft credit check, which won’t impact your credit score.
I’d highly suggest prequalifying, because if you get rejected at that stage, you can walk away without a credit score ding. A denial after a hard credit inquiry is just adding insult to injury, in my opinion.
But if you’ve prequalified, or if you just want to bypass that phase, you can jump straight into the official application.
Here’s what that process looks like:
Step 1: Last Four of Your SSN and Mobile Number (For BoA Account Holders)
I can choose to log in to my Bank of America account (if I have one) and just enter the last four digits of my Social Security number and my full cellphone number to prefill part of your application.
Since I’m not a Bank of America customer, I click “Skip prefill.”
Step 2: Legal Name and Date of Birth
I fill in my full name and date of birth as it appears on my government-issued ID. Then, I scroll down to go to the next step.
Step 3: Citizenship Status and Full SSN
I select that I am a U.S. citizen and enter my SSN twice. I select that I don’t have dual citizenship and choose my country of residence from the drop-down menu.
I understand that the bank collects this information to help verify my identity and that I may be required to show my government-issued ID. Then, I click “Next.”
Note: If you select that you have dual citizenship, another drop-down will appear.
Step 4: Mobile Number and Email Address
I enter my phone number and email address (twice). I note that providing my phone number means I consent to receive text, pre-recorded, or automatic dialer messages about my account.
I also understand that the bank will confirm my contact information before I submit my application. I click “Next” to continue.
Step 5: Phone Verification
I agree to phone verification by clicking the box next to “I consent to the phone verification terms.” Then, I click “Continue.”
Then, I opt to receive a text message and click “Send code.”
Finally, I enter the code I receive via text message and click “Submit code.”
Once I verify my phone number, I’m automatically taken to the next step.
Step 6: Physical Address
I enter my street address and click “Next.” You must enter a physical address, not a P.O. box. You can add a mailing address if it’s different from your home address.
Step 7: Employment Status
I select “Student – employed” from the “Employment status” drop-down. Then the next two drop-downs appear, and I provide my year in school and occupation. I scroll down to continue.
Step 8: Income Information
I select my primary source of income from the drop-down. Then, I enter my total gross annual income and my monthly mortgage payment.
Once I’m done, I click “Next” to continue.
Step 9: Review Information
I review my information, and everything looks correct, so I click “Next” to proceed.
If your information is incorrect, you can click the edit button to modify some of it. Certain details can only be changed at a financial center once your account is open.
Step 10: Agree to Terms, Disclosures, and Submit Application
I click the drop-down arrow next to “Your credit card terms” and “Social Security number verification” and read through each disclosure. The credit card terms cover the account’s APR, fees, how overdraft protection works, and other important details.
The SSN verification is pretty straightforward. It permits the Social Security Administration to disclose my SSN to Bank of America to confirm my identity.
I don’t click “Submit application” because I’m not actually applying for this card. But after you hit submit, you’ll get one of four responses:
Approved for this card
Approved for a different card
More time needed to process your application
Declined
If you’re approved for the BankAmericard® credit card for Students, you’ll receive it in the mail within 10 business days.
Who Should (and Shouldn’t) Apply
The BankAmericard® credit card for Students may be a good option for you if you:
Are a student
Have good credit and sufficient income to repay the debt
Need to make a major purchase or refinance high-interest debt
Have a plan to pay off the balance before the 0% APR promotional period ends
Don’t mind not earning a welcome bonus or rewards
On the other hand, you may want to look at other cards if you:
Aren’t a student (this one’s actually a dealbreaker)
Have limited, poor, or fair credit or insufficient income
Don’t need the card’s lengthy 0% promotional APR period
Think you might struggle to pay off the balance before the promotional period ends
Want a credit card that offers a welcome bonus or rewards
The bottom line: If the interest-free window doesn’t impress you, this probably isn’t the right card for you.
Pros and Cons
If you’re a college student on a tight budget, the BankAmericard® credit card for Students can help you save a lot of money on interest.
However, this account comes with fewer perks than some of the other cards in this category.
Pros
Lengthy 0% APR promotions
$0 annual fee
Accessible, friendly, and competent support via live chat or phone
Cons
May be harder to qualify for than other student credit cards
No cash back, rewards, or welcome bonus
Every financial product has upsides and downsides. It’s up to you to decide if the good outweighs the not-as-good in this case.
Similar Cards Worth Considering
There’s a lot to like about the BankAmericard® credit card for Students, but it’s wise to compare a few options before committing.
Here are two other cards I think are worth a look:
Disclosure: When you apply through links on our site, we often earn referral fees from partners. For more information, see our ad disclosure
Advertiser Disclosure
CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.
Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.
0% intro APR on purchases for 6 months, then the standard variable purchase APR of 16.74% – 25.74% applies
INTRO OFFER: Unlimited Cashback Match for all new cardmembers. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $50 cash back into $100. Or turn $100 cash back into $200
Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases
The Discover it® Student Cash Back card offers 5% cash back on up to $1,500 in quarterly spend within rotating categories that you must activate, such as groceries, dining, and gas, and 1% cash back on all other purchases.
The card issuer will also match the cash back new cardmembers earned at the end of their first year. Plus, you can get a statement credit if you meet the spending requirements within a certain time frame after approval.
While the BankAmericard® credit card for Students doesn’t offer any rewards or a welcome bonus, its 0% promotional APR period wins hands down. The Discover it® Student Cash Back card only offers a short interest-free window on purchases (no balance transfers) before the card goes back to the standard 16.74% - 25.74% Variable APR.
Disclosure: When you apply through links on our site, we often earn referral fees from partners. For more information, see our ad disclosure
Advertiser Disclosure
CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.
Capital One Savor Student Cash Rewards Credit Card
4.6/5.0
About this rating
Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.
Earn unlimited 3% cash back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services, plus 1% on all other purchases
Early Spend Bonus: Earn $50 when you spend $100 in the first three months
Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
Enjoy no annual fee, foreign transaction fees, or hidden fees
Earn unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
Earn up to $500 a year by referring friends and family when they’re approved for a Capital One credit card
Earn 8% cash back on entertainment purchases when you book through the Capital One Entertainment portal
Build your credit with responsible card use
Whether you’re at a 4-year university, community college or other higher education institution, this card might be an option for you
The Capital One Savor Student Cash Rewards Credit Card card doesn’t have a 0% promotional APR period, so any balance you carry from month to month will be subject to its regular APR from the get-go. However, this card generously rewards you for everyday purchases.
You can earn unlimited 3% cash back on groceries, dining, entertainment, and popular streaming services, and 1% cash back on all other spending. You can also earn 8% cash back on Capital One Entertainment purchases and 5% cash back on hotels, rental cars, and vacation rentals booked through Capital One Travel.
Would I Recommend the BankAmericard® credit card for Students?
I absolutely recommend the BankAmericard® credit card for Students if you qualify and would benefit from the 0% promotional APR period. It could be a really useful tool to help you get a new laptop, deck out your dorm room, or refinance debt from another card.
Plus, it can still hold a place in your wallet long after the promotional period ends. With no annual fee, the account could cost little to nothing to maintain while benefiting your credit score by steadily increasing your average age of credit.
However, I see this card as being one part of your money management toolkit, not a financial Swiss Army Knife. Over time, I encourage you to add other cards to the mix that align with your goals and spending patterns.
For example, if you plan to study in France during your senior year, you should probably pick up a card with no foreign transaction fee. Or, if you commute a long way to school, you might want a card that offers cash back on gas.
You chose your major intentionally. Apply the same level of strategy to your credit card selections.
BankAmericard® credit card for Students
★★★★★ 4.5/5.0
BankAmericard® credit card for Students
4.5/5.0
About this rating
Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.
Laura is a personal finance expert who primarily focuses on credit, credit cards, loans, and other consumer-facing topics. Her insights have been featured in U.S. News & World Report, Fortune, Yahoo Finance, The New York Post, USA Today, and many other financial publications. She also earned her MBA and a Bachelor's Degree in Psychology during her previous career in human resources.
