Bank of America has the reputation for being one of the top credit card issuers in the world. For this reason, its balance transfer offers attract many consumers every year.
With a Bank of America balance transfer credit card, you can leave your high interest debt in the past. By taking advantage of a 0% introductory rate, you are in better position to eliminate your debt in a timely manner with Bank of America.
The key to getting started is to understand the process associated with a balance transfer. While Bank of America makes this as simple as possible, there are several questions you should answer upfront:
Have you reviewed the many Bank of America balance transfer offers?
Are you familiar with how long the introductory rate will last?
Have you read the terms and conditions?
Once you answer these questions, you’ll find yourself in better position to take advantage.
Getting Started
Now that you understand the basics, it’s time to start the process. There are two ways of doing so:
Transfer your balance online.
Request a paper application from Bank of America via mail.
Either way, there are two basic steps that allow you to complete the transfer:
Write down your account number and current balance.
Contact Bank of America via phone or online to complete the transaction.
Note: although Bank of America has one of the simplest balance transfer systems, you may still have questions. Don’t hesitate to reach out to a customer service representative for assistance. Read the Terms and Conditions
You should never apply for a balance transfer credit card until you read the terms and conditions. This will ensure that you aren’t surprised by any details in the future. Pay close attention to:
Fee structure
Penalties
Length of the introductory rate
Along with the above, Bank of America leaves itself some room to cancel your introductory rate. One common reason for this is making a late payment.
Reasons to Choose Bank of America
With several credit card companies to choose from, you don’t have to do business with Bank of America. However, there are reasons to consider this company. Above all else, BOA has a reputation for providing industry leading offers. Furthermore, the company provides offers for all types of people, making it easy to find what you’re looking for.
Cards Similar to Bank of America Balance Transfers
Barclaycard Ring® Mastercard®
0% intro APR for 15 months on balance transfers made within 45 days of account opening. After that, a variable 14.24% APR will apply. Within 45 days of account opening for Within 45 days of account opening null*
Earn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership.
Unlimited 1.5% Cash Back on your purchases.
Cash Back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 15.24% to 26.24%.
$0 plan fees for plans set up during your first 15 months of Card Membership with Plan It®, a feature that lets you split up big purchases into monthly payments with a fixed fee.
You spoke, we listened. Over 1.6 million more places in the U.S. started accepting American Express® Cards in 2018.
0% Intro APR on purchases and balance transfers for the first 18 months from account opening. Then a variable APR of 13.24%, 17.24% or 21.24% will apply.
Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days
Earn unlimited 2X miles on every purchase
NEW – Control Your Card – Instantly secure your accounts by locking your cards with Barclays SecurHold™, plus set transaction limits and block certain purchase categories for you or your authorized users. Available only on the Barclays mobile app.
Book travel your way—no airline, seat or hotel restrictions—and redeem your miles for travel statement credits
Get 5% miles back to use toward your next redemption, every time you redeem
No foreign transaction fees
International Chip and PIN for use at self-service chip terminals around the world
Miles don’t expire as long as your account is open, active and in good standing
Earn a $200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
6% Cash Back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) – that means spending $60 a week at U.S. supermarkets could earn over $180 back per year.
3% Cash Back at U.S. gas stations. 1% Cash Back on other purchases.
You spoke, we listened. Over 1.6 million more places in the U.S. started accepting American Express® Cards in 2018.
Cash Back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
0% Intro APR on Purchases and Balance Transfers for 12 months; after that the variable APR will be 15.15% – 25.15%, based on your creditworthiness
Earn a $150 Statement Credit after you spend $1,200 on purchases within the first 90 days from account opening
Earn 5x rewards on up to $1,500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive
No upper limit on the points you can accumulate, and since points never expire, you can save up for a big award!
Earn Points on Every Purchase! It’s simple: $1 = 1 Point
No Annual Fee
Select Your Rewards Your Way
Conclusion
As the second largest bank holding company in the US, it’s tough to go wrong when you opt for a Bank of America balance transfer credit card. All you have to do is compare your options, choose an offer, and follow the simple process for completing the transfer.
Choose a Balance Transfer credit card and apply now!