BankAmericard® Credit Card

BankAmericard® Credit Card

Prior to the passage of the Credit CARD Act of 2009 there were calls from consumers and consumer groups for cards with simpler features, terms and conditions. Since that time a few issuers have begun offering just such products. This was the genesis of a basic Visa card from Bank of America, which they even originally named “Basic”. So, is the BankAmericard a smart choice for those seeking a plain vanilla credit card? It certainly could be for a number of reasons. Especially since it added a more than plain feature a few years ago – a smart chip.

The Basics

Bank of America first launched the Visa Basic card in 2009 and its name evolved to become even more simple, the BankAmericard® Credit Card. The selling point was its pure simplicity! The original terms of the service agreement were touted as being only one page long, which may no longer be the case in today’s tighter disclosure environment. The annual percentage rate for the BankAmericard® Credit Card is stated as a fairly broad range. This broad of a range is meant to accommodate those with excellent credit at one end of the spectrum and less than stellar credit at the other.

The Verdict

If you’re someone that finds the concept of a truly basic plain-jane credit card appealing – either because you simply need to pay down a transferred balance, you want to avoid the temptation of a rewards card or just want a more transparent cardmember experience, the BankAmericard® Credit Card might be the card for you.

There are a few other plain vanilla cards in the market, such as the Chase Slate. It too offers no rewards and no annual fee plus a vertical card design if that suits your fancy. It’s one of the easiest Chase cards to qualify for, similar to the more lenient approval policies of the BankAmericard Visa.

By the way, if you’re curious as to why BofA is going by the name BankAmericard on this card, check out Bank of America’s Visa card history for the answer.

 
Comments
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Sounds like junk to me.

Very good point – I think as with all “simplified” products, they are geared towards those that don’t have the gumption to sift through the fine print and, thus, probably wouldn’t comparison shop. The spirit of a credit card for dummies is kind of nice, but at the end of the day, you’re right, it is just clever marketing. It’s still a variable interest rate that is definitely going up.

I read the history of Visa but I still don’t understand why they are changing the name of the credit cards to Bank Americard?

I think overall this is a good idea from Bank of America. They saw an issue that arose that

their customers were complaining about, and addressed it. They did that in order to help out

their bottom line of course, but they are in it for the money in case you didn’t notice.

The terms aren’t that great. If you did some digging you could get a better deal, but then

that comes with the fees you gotta watch out for and all the sneaky terms. So for people

that just want a straightforward know what their getting into card, I say its a good fit.

Yep gotta agree that’s way too high on the interest

Did Bank of America discontinue this?