Сredit cards allow you to save money with cash rewards, travel points, miles, and other benefits. These credit cards are designed for personal expenses. You can use them for purchases up to a total limit and then cover your debt before your payment due date. If you manage your Bank of America credit cards well, you can increase the available limit. Bank of America credit cards for personal use are divided into several categories:
- Cash Rewards Credit Cards;
- Travel Rewards Credit Cards;
- Airline Rewards Credit Cards;
- Lower interest rates credit cards;
- Secured credit credit cards;
- Points rewards credit cards;
- Cards for students.
Pros and Cons
Pros
- There are many cards you can choose from. Depending on your financial situation and purpose for applying for a card, you can choose a secured credit card, cash rewards credit card, travel rewards cards, and more.
- Bank of America issues contactless cards. You can tap to pay in the location with a contactless symbol.
- Digital wallet technology allows you to link your Bank of America credit cards to mobile services like Apple Pay, Google Pay, and Samsung Pay.
- Receive account alerts via email, texts, or Mobile Banking to track your payment dates.
- Access your FICO score monthly updates for free via Online Banking or Mobile Banking App.
Cons
- Some cards have an annual fee. The better rewards the card earns, the higher will be the annual fee.
- APR is variable, meaning it can rapidly increase with the Prime Rate if the economic situation is unstable. The bank may automatically raise your rate.
How to apply for a Bank of America credit card in West Virginia?
Main requirements
- Achieve at least 18 years of age or at least 21 years of age if you are a resident of Puerto Rico;
- Have an address in one of the 50 States, Washington D.C., APO/FPO/DPO, Guam, Puerto Rico, Northern Mariana Islands, American Samoa, or US Virgin Islands;
- Authorize Bank of America to obtain your credit report, employment history, and other information to approve or decline your application;
- Have a credit score of at least 750 if you want to receive a non-secured card on good terms.
Business owners have these requirements to meet
- You must be at least 18 years;
- Be an Owner or Authorized Officer of the business;
- Authorize Bank of America to pull your credit;
- The bank will ask for the legal name, address, tax identification number, and other identifying information;
- Bank of America may ask for copies of business licenses;
- Nonprofit organizations provide a copy of the organization's last two years of financial statements.
Application procedure
The application process can be completed using online banking. You will receive a response within 30 seconds. To apply and qualify for a card, you need to:
- Go to the "Credit cards" section and select the card that suits you;
- Click on the "Apply now" button;
- Fill in personal information, such as name, phone number, residential address, and information about your citizenship;
- After completing these steps, the application will be created, and you will need to wait for a response.
You can apply in person at the bank's branch. Make an appointment and bring all the documents with you. The bank will review your application and contact you once it makes the decision. If it is positive, you can sign the contract and receive your card. The delivery may take 5 to 7 days.
How to pay off a debt?
- Online banking. Disburse your debt using a website. You can make a money transfer from your checking or savings account.
- ATM. Make a payment at 16,000 ATMs across the country.
- Make payment by phone. Call a special number and make a payment.
- Drop off payment. Make a payment at any financial center of the bank.
- Mail payment. Send a payment receipt by mail.
If you have a mobile app installed, you can use it to make payments toward your credit card debt.
- Log into your Mobile Banking app;
- Choose your credit card account;
- Tap on the "Make a payment" button.
If your minimum payment is not received by the due date, Bank of America will impose a late fee. Late fees are $29 and $40 for subsequent failures that occurred within six billing cycles.