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At a Glance
The BankAmericard® Credit Card for Students is a no-frills card for college students with little to no credit history who are looking to build and monitor the health of their credit.
Ideal for Those Who:
- Are a student just starting out building your credit history
- Are looking for a great introductory APR offer on purchases and balance transfers
- Want a credit card with no annual fees
- Want the ability to monitor your credit score monthly
BankAmericard® Credit Card for Students Review
The BankAmericard® Credit Card for Students was designed with credit card beginners in mind: no annual fee, no penalty APR, and access to free monthly FICO® Score credit checks. It is a very rudimentary credit card without a rewards program or introductory bonus offer. Instead, cardholders will find themselves with one of Bank of America’s most forgiving interest rates and educational tools to help get their finances on the right track. To apply, you must be a current college student at the time of the application. Keep in mind that you may need to prove your student status by showing a student ID at a physical Bank of America location (Not a student but still want to build your credit? Check out the
College is known for the big-ticket essentials that require substantial, upfront costs: tuition, student housing, meal plans, textbooks, etc. and this card handles those nicely. The introductory 0% APR for the first 15 months offers peace of mind to students and gives over one year of interest-free breathing room for a payoff of those large expenditures. The same interest-free offer also applies to balance transfers made within the first 60 days, in the unlikely circumstance where a BankAmericard® Credit Card for Students cardholder already has debt elsewhere. While it may be uncommon for credit card novices to have existing debt, it is a practical perk for those who want to a card with a lower interest rate.
Students who have intentions of traveling abroad should be wary of this card as each purchase made outside of the U.S. will incur a 3% in foreign transaction fees. Additionally, cash advances, balance transfers (after the first 60 days of opening an account), and wire transfers from non-financial institutions have additional fees attached ranging from 3-5% each.
Should You Apply for the BankAmericard® Credit Card for Students?
Overall, if you’re just beginning to build your credit, there are certainly more enticing options out there that will put money back in your pocket for everyday purchases you already make. However, in order to qualify for most higher-tier rewards cards, you’ll need some sort of previous credit history – which could put many students at a disadvantage. If your primary goal is to get your feet wet in the world of credit, then the BankAmericard® Credit Card for Students card will serve you well. Once you’ve established your credit and have developed good financial habits, you can upgrade to a credit card with actual rewards.