Best Bank of America Credit Cards of August - NerdWallet - Bank of America® Travel Rewards credit card
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Bank of America Credit Cards - Best Offers for August | Bankrate.What Happens When Your 0% Intro APR Period Ends? | Bankrate
Cons There is no intro APR offer on balance transfers. There are point minimums you need to meet in order to redeem: 2, points minimum for travel credits and cash, and 3, points minimum for gift cards. Card details Earn unlimited 1. Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
That means instead of earning an unlimited 1. Pros There are no blackout dates for the companion fare perk. Alaska Airlines has a wide network of domestic and international partners. Valid on all Alaska Airlines flights booked on alaskaair. Flexibility with no blackout dates on Alaska Airlines flights when booking with miles or a companion fare. This online only offer may not be available elsewhere if you leave this page. Excellent - Credit score. Bankrate's View There's an opportunity to get a lot of bang for your buck with this business card.
Cons This card has a 3 percent foreign transaction fee. That means you could earn up to 5. This offer may not be available if you leave this page or visit our website. Cardholders get a straightforward 1. Who is this card good for : Cash back newbies. It not only earns the same 1. Who is this card good for : People who prioritize flexibility but still want rewards. Cardholders will earn an elevated cash back rate in the category of their choice.
Citi will make the adjustments automatically. Bank of America Premium Rewards credit card: Best Bank of America travel card What we love about this card : This card offers solid travel protections and earns a decent rewards rate on travel purchases. Who is this card good for : Bank of America Customers who want to earn solid travel rewards for a low cost.
Who is this card good for : People seeking balance transfers. Cardholders will see a lengthy though temporary break from interest charges on qualifying balance transfers. Bank of America Travel Rewards credit card: Best for qualifying travel purchases What we love about this card : Cardholders will earn for a wide variety of travel purchases. Their costs will also be kept lower by forgoing an annual fee. Who is this card good for : Travelers who value flexibility and versatility in their travel card.
Get rewarded for purchases from art galleries, to zoos and campgrounds with this card. A free checked bag for you and up to six companions on the same reservation, discounts on inflight purchases and a generous sign-up bonus. Who is this card good for : Alaska Airlines loyalists who travel with a partner. Alternatives : Looking for a travel card with maximum flexibility?
The Alaska Airlines Visa Signature may not be the right choice. However, the Chase Sapphire Preferred touts a generous sign-up bonus and access to an extensive list of travel partners in the Chase Ultimate Rewards portal. This card provides business owners with flexible options to earn rewards in several categories and allows for redemption in multiple ways. Who is this card good for : Business owners who spend heavily in categories like travel and office supplies.
The Blue Business Cash touts a slightly longer introductory APR period, but the rewards structure and welcome offer of the Business Advantage Customized Cash card are a bit more lucrative. Bank of America loyalists will see their rewards boosted even more. Who is this card good for : Business owners who can qualify for the boosted rewards rate. If your business can qualify for Preferred Rewards status, you can see the value of your rewards boosted by up to 75 percent.
What is Bank of America? By using an eligible card to book airfare, hotels or rental cars through the Bank of America Travel Center, you can earn double the standard rewards rate on those purchases. BankAmericard, the second universal credit card ever offered, was launched by Bank of America in How we chose our top-rated Bank of America cards. Perks and benefits Whether the card offers extras such as retail discounts, extended warranties on purchases, travel insurance and financial management tools.
Annual fee Whether the card charges an annual fee and if so, how much the card's overall value and benefits might offset the fee. Introductory offers Whether the card has a sign-up bonus, welcome offer or similar sign-up incentive and how much it adds to the card's overall value. Foreign transaction fee Whether the card charges a foreign transaction fee for international purchases and how the fee affects the card's overall value. Qualifying accounts include: Bank of America Advantage Banking, savings, money market savings, CDs and IRAs Merrill investment accounts Merrill college savings accounts Revocable grantor trust accounts As mentioned above, the program offers three tiers.
Most Bank of America cards require a good-to-excellent credit score for approval. Learn how to check your credit score. There are Bank of America credit cards for all kinds of spenders—from travelers to business owners—each card has its own set of requirements for approval.
Benefits and rewards will vary based on which credit card you get. The card with the best benefits is the one you can get the most value from and, as such, will vary based on your spending habits and financial goals.
You could get a rewards boost with the increase of your Bank of America account balance through its Preferred Rewards program. However, whether one of these cards is worth it depends mostly on your spending habits and financial needs. Once you know that, you can evaluate your options to see which card will best help you achieve that goal based on your credit history, outstanding card balances and spending habits.
This will give you the best idea of whether a Bank of America card is the right choice and introduce you to the various perks, benefits and rewards programs available on competing cards. Courtney Mihocik Email.
Previously, she led insurance content at Reviews. Your penalty APR will depend on your creditworthiness but is capped at However, for everyday borrowers it lacks the higher rewards rates, lower APR, and special benefits of many of its competitors.
Henry Lamont writes for FinanceJar, covering credit inquiries, debt collection agencies, and other areas of personal finance. We make money from advertising. We place links on our website to our affiliates, and when you click those links, our affiliates compensate us for it. Our relationships with our affiliates may affect which products we feature on our site and where these products appear in our articles.
Credit Card Reviews August 15, Credit Card Reviews August 12, The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. You can pay off the purchase during the intro period and steer clear of paying interest.
Here are a few things to keep in mind if you decide to go this route:. For example, some cards provide generous introductory periods, while others provide healthy bonuses. Fortunately, the math is pretty simple. Remember that this formula works only if you make no other purchases or balance transfers during the same month intro period.
The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners. John Egan is a writer, editor and content strategist in Austin, Texas. He is a contributor for CreditCards.
Essential reads, delivered straight to your inbox. By providing my email address, I agree to CreditCards. Your credit cards journey is officially underway. With virtually all credit card issuers offering rewards, the issue is not whether you should get a rewards card, but what type of rewards card is best for you. How to apply for a credit card and get approved.
How to choose an airline credit card. How do credit card APRs work? How does a credit card transaction work? The offers that appear on this site are from companies from which CreditCards. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories.
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Visit credit card homepage. One or more of the cards you chose to compare are not serviced in English. You can only compare up to 4 cards. Please remove a card before adding another. You can only compare up to 3 cards. Most credit card interest rates are tied to the prime rate. When the prime rate goes up or down , your credit card's interest rate will usually go up or down an equal amount. Many of the cards on this list are good for transfers, but check out our best balance transfer credit cards for further options.
If you find you're consistently carrying a balance a from month to month, look for a card with a low ongoing interest rate. Read the fine print before applying. If you expect that you'll be carrying a balance regularly, the ongoing APR is an important consideration. If you'll need to transfer a balance, this fee is an important consideration. Depending on the APR on the card you transfer the debt to and how long it takes you to pay it off, you could save more in interest than you pay in transfer fees.
A few cards charge no transfer fee. Of course, if you're only interested in purchases rather than transfers, this fee is irrelevant. Some cards even require excellent credit, generally defined as or better. It's important to pay your bill on time every month. If punctuality is an issue for you, look into a card's penalty policies and, for your own sake, work on your punctuality. Saving money is the primary reason to get a low-interest credit card, so you shouldn't be paying an annual fee on such a card.
Most major credit card issuers and many smaller ones give cardholders free access to a credit score. When you're looking to manage debt with a low-interest card, it's smart to keep an eye on your score.
When you're using the card to finance a big purchase, those benefits can amount to an instant discount on the purchase. With any card, watch your balance. Looking to transfer a balance to save money? Our roundup of the best balance transfer cards evaluates cards — including many of the cards on this page — with that specific goal in mind. You might not. If you pay your balance in full every month, the APR on your credit card doesn't matter, because you're never actually charged interest.
In that case, consider a rewards credit card , which gives you a little something back very time you make a purchase. Rewards cards fall into two major categories: cash back credit cards and travel credit cards. On the other hand, if you're prone to carrying a balance from month to month, you might be better off with a card that has a low ongoing interest rate.
Learn how NerdWallet rates credit cards. Zero-percent cards are good for people who want to spread out payments on a large purchase or gain breathing room to pay down debt without interest. That roughly translates to a credit score of or better — although credit scores alone do not guarantee approval for any credit card.
In fact, closing the account could hurt your credit score by reducing the amount of credit you have available, which could increase your credit utilization. If the card charges a fee, however, or if you fear that the open credit line will tempt you to overspend, then closing it might be the best action. Show summary. Credit card NerdWallet rating NerdWallet's ratings are determined by our editorial team.
Apply now. Add to compare. The scoring formula takes into account the type of card being reviewed such as cash back, travel or balance transfer and the card's rates, fees, rewards and other features. Annual fee. The information on this site does not modify any insurance policy terms in any way.
Current credit card interest rates average around 17 percent, which means that applying for a credit card with a promotional 0 percent interest rate could save you a lot of money. But what happens when your 0 percent intro APR ends? That includes balances that you charged or transferred to the credit card during the promotional APR period — not just new charges. Make sure you know exactly when your promotional APR runs out and what the standard variable APR will be moving forward so you can avoid getting stuck with a large balance on a credit card that is about to start charging interest.
You can find out when your intro APR ends by checking your most recent credit card statement. If you are having trouble finding the end date for your intro APR on your credit card statement, you can check your online account or mobile app for information. In some cases, missing a credit card payment or making a late payment could cause your 0 percent intro APR period to end early.
Once your introductory interest rate ends, your APR will go to a standard variable APR rate determined by your lender. If your credit card only offers 0 percent APR on purchases, any balance transfers you initiate on the card will accrue interest. Likewise, if your credit card only offers 0 percent intro APR on balance transfers, any purchases you make on the card will accrue interest.
Luckily, many of the best cards with 0 percent APR periods offer an intro APR on both purchases and balance transfers. On the other hand, 0 percent APR on purchases is great for paying off a large purchase over time, but loading up the same card with a transferred balance could limit your spending power.
If you transfer a balance to a credit card that only offers zero interest on purchases, your credit card issuer will charge interest on your transferred balance. Here are our picks for the best balance transfer credit cards. Any purchases you make on a credit card that only offers an intro APR on balance transfers will accrue interest at the standard interest rate. One final consideration: If you are experiencing financial hardship that is making it difficult for you to pay down your credit card balance, you can make a request to be considered for a credit card relief program.
Some of these hardship programs offer reduced interest rates, while others allow you to defer your payments for a certain period of time. However, needlessly holding onto debt is never a good idea, so be sure to have a plan in place to pay off any debt you have.
To determine which credit cards offer the best value, Select analyzed of the most popular credit cards available in the U. We compared each card on a range of features, including rewards, welcome bonus, introductory and standard APR, balance transfer fee and foreign transaction fees, as well as factors such as required credit and customer reviews when available.
We also considered additional perks, the application process and how easy it is for the consumer to redeem points. Select teamed up with location intelligence firm Esri. The company's data development team provided the most up-to-date and comprehensive consumer spending data based on the Consumer Expenditure Surveys from the Bureau of Labor Statistics.
You can read more about their methodology here. General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses. Select used this budget to estimate how much the average consumer would save over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases.
All rewards total estimations are net of the annual fee. While the five-year estimates we've included are derived from a budget similar to the average American's spending, you may earn a higher or lower return depending on your shopping habits.
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