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How to Do a Balance Transfer With Bank of America

How to Do a Balance Transfer With Bank of America

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Mar 03, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Balance transfers can provide you with the opportunity to rid yourself of debt as long as you pay off any balances before the intro period ends. Rather than leaving your balance on one or more high interest cards, you can transfer the balance to a 0% intro APR card and save tons of money on interest.

Bank of America offers several cards with balance transfer options, one of which is their primary balance transfer card — the BankAmericard® credit card. This guide will show you how to complete a balance transfer with Bank of America, in addition to best practices for completing your transfer and descriptions of the balance transfer cards available.

Complete your transfer online

1. Login to your account. Click on “Transfers” then select “For credit card balance transfers.”

bank of america balance transfer

*The Rates and Fees listed above are accurate as of Month, Day, Year and may have since changed.

2. You should see a balance transfer offer (since this card is old, there are no current offers). Verify the terms of the offer and select it.

3. Complete the form. Fill in the credit card account number for the card with the debt and the amount you want to transfer. Add your phone number, then read the terms and conditions and submit the transfer request.

balance transfer with bank of america

*The Rates and Fees listed above are accurate as of Month, Day, Year and may have since changed.

Complete your transfer by phone

If you rather complete a transfer over the phone, simply call the number on the back of your card to speak to a representative. Have the following information ready:

  • Name on the account with the debt
  • Amount to be transferred

Balance transfer cards from Bank of America

The BankAmericard® credit card offers 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days as well as 0% Intro APR for 18 billing cycles for purchases. After the intro period, there’s a 12.99% - 22.99% Variable APR. The balance transfer intro period is average length, and beware of the balance transfer fee — Either $10 or 3% of the amount of each transaction, whichever is greater. While there are no rewards for this card, it has a decent balance transfer offer and provides the opportunity to get out of debt.

The Bank of America® Customized Cash Rewards credit card has a subpar balance transfer offer with 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days as well as a 0% Intro APR for 15 billing cycles for purchases (after, 13.99% - 23.99% Variable APR). The intro period is shorter than the average balance transfer card and it also has a balance transfer fee — Either $10 or 3% of the amount of each transaction, whichever is greater. However, this is primarily a rewards card earning 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs (for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% cash back on all other purchases

MLB™ Cash Rewards Mastercard® from Bank of America

The MLB™ Cash Rewards Mastercard® from Bank of America offers 0% Introductory APR for the first 12 billing cycles following the opening of your account for transactions made within 60 days of opening your account and 0% Introductory APR for the first 12 billing cycles following the opening of your account for transactions made within 60 days of opening your account with 13.99%-23.99% variable after the intro period. A balance transfer fee 3% of each transaction (minimum $10) applies. This card is similar to Bank of America® Customized Cash Rewards credit card offering 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs and unlimited 1% cash back on all other purchases (on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter).

Susan G. Komen® Cash Rewards Visa® credit card from Bank of America

The Susan G. Komen® Cash Rewards Visa® credit card from Bank of America is similar to the Bank of America® Customized Cash Rewards credit card offering 0% for 12 billing cycles for transfers made within 60 days of opening your account and 0% for 12 billing cycles for transfers made within 60 days of opening your account. Once the intro period ends, 13.99%-23.99% variable applies. There is also a balance transfer fee 3% of each transaction (minimum $10) and a rewards program earning 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs and unlimited 1% cash back on all other purchases (on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter). With this card, Bank of America donates money to Susan G. Komen®, guaranteeing $3 million in conjunction with its Pink Ribbon Banking credit card and checking program from June 2015 through December 2020.

Check out our roundup of the best balance transfer credit cards.

The information related to the MLB™ Cash Rewards Mastercard® from Bank of America and Susan G. Komen® Cash Rewards Visa® credit card from Bank of America has been independently collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication.


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