Bank of America Introduces BankAmericard Visa Card

Bank of America has announced the BankAmericard Basic™ Visa card. “The new card features one basic rate for all types of transactions, including balance transfers and cash advances. That rate, which is tied to the U.S. Prime Rate, will not change over the life of the account.” The new card will be available online at bankofamerica.com in October.

Key features of the BankAmericard Basic Visa card include:

• The interest rate is the same for all transactions, including purchases and cash advances, making it easy for customers to keep track of their interest rate at any given time.

• One interest rate — U.S. Prime plus a margin of 14 percent — that never changes for the life of the account. Rate increases and decreases will only occur if the Prime Rate changes.

• No over-the-limit fee.

• Easy- to-understand, single-page disclosure explains terms and conditions.

• One flat fee of $39 for late payments.

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