The BankAmericard Credit Card for Students is Bank of America’s most basic student credit card. It doesn’t offers any rewards, but has a slightly lower APR than Bank of America’s other student cards. If you’re just looking to build your credit history, it’s useful. Beyond that, though, its utility is pretty limited.

If you’re in the market for a student credit card that also earns rewards, be sure to test out the CardCruncher tool to find the best card for you. But read on to get the full details on the BankAmericard Credit Card for Students.

BankAmericard Credit Card for Students Highlights

Here’s a brief overview of the BankAmericard Credit Card for Students:

Annual Fee: $0

APR: 0% for 15 months, then 15.24% to 25.24% Variable

Sign-Up Bonus: $0

Benefits:

  • One of the lowest APRs offered by Bank of America
  • Bank of America branches are virtually everywhere in the United States
  • Free monthly FICO score

BankAmericard Credit Card for Students Minimum Payment:

If your balance is less than $25, then the full statement balance. Otherwise, your minimum payment will be 1% of your balance, plus new interest charges and any late fees, rounded down to the nearest dollar, plus past due amounts.

BankAmericard Credit Card for Students Fees:

  • Up to $39 for late payment
  • Up to $28 for returned payments

Why Apply for the BankAmericard Credit Card for Students

There are a few reasons you may want to apply for the BankAmericard Credit Card for Students.

Low interest rate

Lots of credit cards charge high interest rates, so it’s easy to get caught in a debt trap. That holds especially true for students who aren’t used to using credit cards and paying back on time. The BankAmericard Credit Card for Students offers one of Bank of America’s lowest interest rates, though the rate is still high compared to some other cards.

Get a free copy of your FICO score each month

If you’re applying for a student credit card, odds are you don’t have much of a credit history. You’ll want to be able to track your credit score and see how your actions impact your score. The BankAmericard Credit Card for Students offers a monthly copy of your FICO score, making that easy. You can track your spending and see how your score improves over time. It’ll also be helpful if you see your score drop, as you’ll have the chance to investigate what caused the drop.

BankAmericard Credit Card for Students: Drawbacks and Downsides

There are a number of drawbacks to the BankAmericard Credit Card for Students.

No rewards

Bank of America offers a few different student credit cards. Of those, only the BankAmericard Credit Card for Students offers no cash back or travel rewards. This is fairly common for student credit cards. But all things being equal, you should focus on a student card that earns rewards. Those rewards are pure upside, and you’d be passing up free money by choosing a card without rewards.

High fees

Though the BankAmericard Credit Card for Students has an annual fee of $0, it can make up for it in other fees. It charges a hefty $39 late payment fee and 3% cash advance fee. It’s also not a great choice for international students or people who want to study abroad, as it charges a 3% foreign transaction fee. You can likely find a card that doesn’t charge any foreign transaction fees. That represents huge savings if you see yourself traveling or studying overseas.

BankAmericard Credit Card for Students Alternatives

If you’re considering the BankAmericard Credit Card for Students, you should also think about these alternatives.

Bank of America Cash Rewards Credit Card for Students

If you want to earn cash back, with a bonus category of your choice, consider the Bank of America Cash Rewards Credit Card for Students. This card offer rewards right out of the gate, with a $150 bonus for spending $500 within 90 days of approval for the card. You’ll also earn 3% cash back on the category of your choice, 2% cash back on groceries and wholesale stores, and 1% cash back everywhere else.

Deserve Edu card

If you want a basic cash-back card with a few perks, apply for the Deserve Edu card. This student credit card offers a basic 1% cash back on every purchase. It also covers the cost of a one-year subscription to Amazon Prime student, which gives you free two-day shipping on more than 100 million items on Amazon, streaming video, and more. That’s a terrific value.

The Deserve Edu card also doesn’t require a social security number—foreign students can apply with a student visa and proof of a U.S. bank account balance.

BankAmericard Credit Card for Students FAQs

Here are some other things to know about the BankAmericard Credit Card for Students.

Does Bank of America have a student credit card?

Yes, if you’ve read this review, you’ll know that Bank of America does have a student credit card. In fact, it offers three. In addition to the BankAmericard Credit Card for Students, Bank of America offers the Bank of America Cash Rewards Credit Card for Students and the Bank of America® Travel Rewards Credit Card for Students, letting you earn the rewards that will be the most useful.

Which Bank of America credit card is best for students?

There’s no single “best” credit card, and that goes for student cards, too. The right card for you will depend on your goals and your personal finances. Think about whether you’d prefer cash back, or to redeem your rewards for travel. Then apply for the card that aligns with your goals. The BankAmericard Credit Card for Students should be your third choice, most likely, as it doesn’t provide any rewards, and otherwise looks a lot like those other two cards.

Bottom Line: Should You Apply for the BankAmericard Credit Card for Students?

The BankAmericard Credit Card for Students is the least appealing of the bank’s three student credit cards. The other two come with rewards, so there’s little reason to apply for a card that doesn’t. If you want a student credit card from Bank of America, you’re likely to be better off with one of the other options.

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