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BankAmericard® Secured Credit Card

  • Regular Purchase APR   25.24% variable based on the Prime Rate
  • Balance Transfer APR  25.24% variable based on the Prime Rate
  • Cash Advance APR  27.24% variable based on the Prime Rate
  • Annual Fee  None
  • Credit Needed  Poor , No Credit Required
  • Processing Network Mastercard

Best Benefits
  • Establish or fortify your credit with benefits like no penalty APR and free monthly FICO Score reports
  • After review of your credit history and activity, Bank of America may return your initial security deposit
  • Build your knowledge of best credit practices with access to education on several topics, including money management
  • Add your card to your mobile device for more convenience ways to shop in-store or online
Rates & Fees
     Intro Purchase APR: N/A
     Regular Purchase APR: 25.24% variable based on the Prime Rate
     Intro Balance Transfer APR: N/A
     Balance Transfer APR: 25.24% variable based on the Prime Rate
     Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each transaction
     Cash Advance APR: 27.24% variable based on the Prime Rate
     Cash Advance Transaction Fee: Either $10 or 3% of the amount of each transaction, whichever is greater. For ATM, over-the-counter, same-day online and cash equivalent cash advances: Either $10 or 5% of the amount of each transaction, whichever is greater
     Penalty APR: None
     Annual Fee: None
     Foreign Transaction Fee: 3% of the U.S. dollar amount of each transaction
     Late Payment Penalty Fee: Up to $39
     Return Payment Penalty Fee: Up to $28
     Over Limit Penalty Fee: None
     Minimum Deposit Required: $300
     Credit Needed: Poor , No Credit Required


At a Glance

Designed for establishing, building, or even rebuilding one’s credit score, the BankAmericard® Secured Credit Card offers the tools needed to strengthen your financial standing while covering everyday purchases.

The Gist

The BankAmericard® Secured Credit Card is a trusty – and beneficial – form of payment if your credit score could use more attention. Like a traditional unsecured credit card, you can make purchases anywhere Mastercard is accepted, and you can conduct balance transfers and cash advances. The card can be used for purchases in foreign currencies (though a fee will be assessed), and best of all, Bank of America will report your activity to the major credit bureaus – making it simple to rise through the ranks of borrowing.

In addition to reporting your activity, Bank of America does you the same favor by providing you with monthly FICO® Score reports. These allow you to view the status of your credit score and learn about the factors that affect it. Along with these reports come a number of learning resources that you can access to become more knowledgeable about budgeting and responsible credit card use.

As with any secured card, you’ll need to place a security deposit that will count as your line of credit. A minimum of $300 is required, though over time you may be eligible to have your deposit refunded.

Apply for This Card if You:

  • Want to build or improve your credit score
  • Are looking to improve your spending and budgeting habits
  • Want to stay informed about the impact of your credit card usage on your credit score
  • Want a card that won’t penalize you by raising your interest rate


Editorial Disclosure — The opinions expressed on BestCards’ reviews, blogs, and all other content on or relating to the website are solely those of the content’s author. They are not reflective of any card issuer or financial institution and have not been reviewed or approved by these entities unless otherwise noted. Further, BestCards lists credit card offers that are updated daily with information believed to be accurate to the best of our knowledge.

Published: August 1, 2019 8:18 am

Advertiser Disclosure – BestCards is an independent, Florida-based credit card comparison platform. Many of the card offers that appear on this site are from companies from which BestCards receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). BestCards does not include all card companies or all card offers available in the marketplace.