BankAmericard for Students is 2024’s best student credit card for financing, offering 0% introductory APRs on both new purchases and balance transfers made in the first 60 days for the first
18 billing cycles your account is open. With no annual fee, it’s also
$22.29 per year cheaper than the average credit card.
In short, the Bank of America Student Credit Card should be your go-to choice for avoiding interest on big-ticket purchases and reducing the cost of existing debt while you’re still in school.
BankAmericard® credit card for Students Review Highlights
0% for 18 billing cycles on purchases and balance transfers made in the first 60 days
This is a very good deal considering that the average credit card with a 0% introductory APR is interest-free for
11 months on purchases and
13 months on balance transfers.
$0 annual fee
The best student credit cards and the best 0% APR credit cards have $0 annual fees, so this is to be expected. Nevertheless, it saves you
$22.29 per year compared to the average credit card offer.
No rewards
Unlike a lot of student credit cards, the BankAmericard credit card for Students does not reward cardholders for making purchases. You could always pair it with a student rewards card, though.
If you’re in the market for rewards rather than a 0% intro rate, you’ll find plenty of great options among 2024’s best credit cards for college students, as selected by WalletHub’s editors.
High regular APR
The
BankAmericard® credit card for Students has an APR of
16.24% - 26.24% Variable, with the exact rate you’re assigned depending on your overall creditworthiness. For comparison, the average APR among student credit card offers right now is just
19.73%. So, there’s a chance you’ll be assigned a rate that’s a lot higher than average.
This rate takes effect when the introductory APR expires. For the best results, aim to pay your balance in full by then.
Fees for balance transfers and foreign transactions
You will need to factor the card’s transfer fee into your plans if you’re interested in transferring a balance. On the other hand, you should probably look into a credit card without foreign fees if you plan to travel abroad.
Finally, we recommend trying to avoid credit card debt whenever possible when you’re in school. It’s important to get in the habit of spending only what you can afford to repay in full by the due date each month. And if you pay in full, rewards should be your focus.