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
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 14.49% to 25.49%.
0% introductory plan fee 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.
Over 3 million more places in the U.S. started accepting American Express® Cards in 2017 and 2018.
0% introductory APR for the first 12 months. Applies to transfers made within the first 90 days from account opening. After that, your APR will be from 14.74% - 27.74%, based on your creditworthiness*
Earn 2 LifeMiles per $1 spent on Avianca purchases
Earn 1 LifeMile per $1 spent on all other purchases
15% discount on purchases of miles with Multiply Your Miles
No cap on the number of LifeMiles you can earn
0% Introductory offer for 12 months on Balance Transfers
You must be an Avianca LifeMiles member to apply
If you are not already a LifeMiles member, create your account here: www.lifemiles.com
Chip-enabled card provides added security
Auto Rental Collision Damage Waiver
Travel Accident Insurance
Protection against unauthorized charges
Emergency Card Replacement
Online Account Management
Electronic Statements
Auto-pay option
Avianca Vuela Visa® Card
0% introductory APR for the first 12 months. Applies to transfers made within the first 90 days from account opening. After that, your APR will be from 14.74% - 27.74%, based on your creditworthiness.*
Earn 3 LifeMiles per $1 spent on Avianca purchases
Earn 2 LifeMiles per $1 spent at gas stations and grocery stores
Earn 1 LifeMile per $1 spent on all other purchases
No foreign transaction fees
15% discount on purchases of miles with Multiply Your Miles
Free additional piece of baggage for travel between the United States and Central America
A 50% discount on an award ticket redeemed for travel to Central America or Colombia from the United States after $12,000 spent each year
An additional 50% discount on an award ticket redeemed for travel to Central America or Colombia from the United States after $24,000 spent each year
0% Introductory offer for 12 months on Balance Transfers
You must be an Avianca LifeMiles member to apply
If you are not already a LifeMiles member, create your account here: www.lifemiles.com
Chip-enabled card provides added security
Auto Rental Collision Damage Waiver
Travel Accident Insurance
Protection against unauthorized charges
Emergency Card Replacement
Online Account Management
Electronic Statements
Auto-pay option
Luxury Card™ Mastercard® Titanium Card™
0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening.*
Patented brushed stainless steel front and carbon back—weighing 22 grams.
2% value for airfare redemptions with no blackout dates or seat restrictions.
1% value for cash back redemptions.
24/7 Luxury Card Concierge®—Available by phone, email, and live mobile chat.
Exclusive Luxury Card Travel® benefits (e.g., amenities, room upgrades and complimentary food and beverages).
Members-only LUXURY MAGAZINE®.
Cell Phone Protection, Lyft credits, Postmates discounts, Fandango perks and more.
Annual fee: $195 ($95 for each Authorized User).
Earn one point for every one dollar spent.
Terms and conditions apply.
Luxury Card™ Mastercard® Black Card™
0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening.*
2% value for airfare redemptions with no blackout dates or seat restrictions.
1.5% value for cash back redemptions.
24/7 Luxury Card Concierge®—available by phone, email and live mobile chat.
Exclusive Luxury Card Travel® benefits (e.g., amenities, room upgrades and complimentary food and beverages).
Up to $100 annual airline credit and $100 Global Entry and TSA Pre-Check application fee credit.
Cell Phone Protection, Lyft credits, Postmates discounts, Fandango perks and more.
Annual fee: $495 ($195 for each Authorized User).
Earn one point for every one dollar spent.
Terms and conditions apply.
Luxury Card™ Mastercard® Gold Card™
0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening.*
Patented 24K-gold-plated stainless steel front and carbon back—weighing 22 grams.
2% value for airfare redemptions with no blackout dates or seat restrictions.
2% value for cash back redemptions.
24/7 Luxury Card Concierge®-available by phone, email, and live mobile chat.
Exclusive Luxury Card Travel® benefits (e.g., amenities, room upgrades and complimentary food and beverages).
Up to $200 annual airline credit and $100 Global Entry application fee credit.
Cell Phone Protection, Lyft credits, Postmates discounts, Fandango perks and more.
Annual fee: $995 ($295 for each Authorized User).
Earn one point for every one dollar spent.
Terms and conditions apply.
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.
