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Bank of America Accelerated Rewards™ American Express Card
The following Bank of America Accelerated Rewards™ American Express Card is brought to you by Bank of America, American Express and CreditCardAssist.com. With this low interest credit card, individuals with average credit can gain access to an introductory zero interest APR as well as an attractive rewards program. |
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Bank of America Accelerated Rewards™ American Express® Card |
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- 0% Intro Annual Percentage Rate (APR)† on balance transfers and cash advance checks for your first 12 billing cycles.
- No annual fee and the flexibility to pay over time
- Reedeem your points for travel with no blackout dates, discounts at hotels, cash, brand-name merchandise, or gift certificates§
- Earn one point for every net retail purchase dollar§
- Access to special Cardmember offers from American Express to save on shopping, dining, travel, hotels, and much more.
- Free 24/7 Concierge Service
- Card issued by FIA Card Services, NA.
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Intro APR
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Intro APR Period
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Regular APR
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Annual Fee
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Balance Transfers
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Credit Needed |
0%*
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First 12 Billing Cycles*
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9.99%*
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None*
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Yes*
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Average Credit Needed*
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Editor's Review:
People that have an average credit rating but would like to take advantage of a rewards program may be interested in the Bank of America Accelerated Rewards™ American Express® Card. In addition to offering an attractive reward program, the card is also one of the best zero interest credit cards available for those with an average credit rating.
With the reward program, the cardholder receives one point for every dollar spent. These points can be redeemed for cash, travel, merchandise, and gift certificates. Unlike some other reward credit cards, there are no blackout dates with the travel rewards and hotel stays can be purchased with the points as well. In addition, the items that can be purchased with the card are brand name products. While there is no limit to the amount of points that a cardholder can earn with the card, they do expire five years after being earned.
It is unusual to find 0 interest credit cards that offer a rewards program as well. As such, this feature alone helps the Bank of America Accelerated Rewards™ American Express® Card stand apart from other credit cards for people with average ratings. It does offer other benefits, however, such as having no annual fee. In addition, all zero interest credit cards eventually start charging an interest rate after the introductory period is over, but this card still offers a reasonable 9.99% fixed interest rate. Cash advances, on the other hand, have a fixed 19.99% APR after the introductory period is over.
In addition to the higher APR on cash advance fees, cash advances are also subject to a 3% fee with a $10 minimum. The same fees apply to balance transfers. Going over the credit card limit also results in a fee. Cardholders that have a balance of up to $500 and go over the limit can expect to pay $15 while those with balances over $500 but more than $1,000 will pay $29. Cardholders with a balance over $1,000 will be subject to a $39 fee when going over the limit.
Sending the payment late will cost the cardholder $15 if late on paying toward a balance of up to $100. Paying late on balances over $100 that are still less than $250 will result in a $29 fee while those late paying on balances of over $250 will pay $39.
This Bank of America Accelerated Rewards™ American Express® Card also offers several benefits, including absolute fraud protection, personal concierge, and identity theft recovery.
For those looking for 0 interest credit cards with a rewards program that will not revert to a very high interest rate after the introductory period is over, the Bank of America Accelerated Rewards™ American Express® Card is certainly worth considering.
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(Review Date: July 24, 2008)
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