Bank of America Student Credit Card

Getting a Bank of America student credit card offers numerous benefits for college/university students. With this card, you can start building your credit history responsibly while enjoying special perks. The card provides an opportunity to earn rewards and cashback on everyday purchases, helping you save money as you spend. Additionally, it offers financial flexibility with a manageable credit limit tailored for students. Moreover, Bank of America’s excellent customer service ensures you receive assistance whenever needed. Overall, the Bank of America student credit card is an ideal tool to establish good credit habits and gain valuable financial experience during your study in the USA journey.

Must Read: How To Increase Your CIBIL Score For Better Education Loans?

How to Apply for a Bank of America Student Credit Card?

Overseas students enrolled in universities in the USA can apply for a student credit card at BOA, provided they have an international student account with this financial institution. By availing of this credit card, a non-US student can save a lot of money on the purchase of necessary items.

Furthermore, she/they/he can also benefit from the travel rewards offered by the Bank of America. But, before we dwell on the reasons to get this credit card, let us go through the process to apply for the same. 

Here is a step-by-step guide to applying for a BOA student credit card:

• Visit the official website of Bank of America-bankofamerica.com
• In the next step, select the ‘Credit Cards’ option from the top menu
• Now, click on the ‘Credit Cards for Students’ option
• In this step, you will be directed to the ‘Credit Cards for Students page. Read all the advantages and disadvantages carefully.
• Now, click on the ‘Apply’ button, present at the bottom of each section displaying the benefits of the Bank of America student credit card. Select the credit card as per your requirements. You will get the features that you select.
• On the next page, fill out all the information. 
• Now, click on the ‘Save and Continue’ button at the bottom of the page to move to the next window.
• In all the subsequent pages, provide all the details. In the end, click on ‘Done’ to complete the application process.

You will receive an email about the confirmation. Your request will be considered in due time and you will receive your credit card soon. 

Also Read: SBI Student Credit Card

Reasons to Get a Bank of America Student Credit Card

BOA student credit cards are devised to enable students to establish better credit habits and build credit. By acquiring good credit habits, students can lay the foundation for a successful and secure financial future. To help students in building credit, BOA issues student credit cards that have a low-interest rate and offers cash and travel rewards. 

Customised Cash Rewards

One of the key reasons to opt for this credit card is to avail of 3% cash back on off-campus dining, grocery shopping, online shopping, and any other category of choice. 

Let us now have a look at the benefits of a BOA student credit card in detail.

• You can select the category in which you want to get 3% cashback. These categories include drug stores, gas, dining, furnishings, travel, or online shopping. Furthermore, you have the option of changing the category each month. A user of a Bank of America student credit card gets 2% cashback on wholesale clubs and grocery stores. This 2% cashback is provided on the initial expenditure of USD 2,500 spent on both grocery stores and wholesale clubs in each quarter. 
• Moreover, you also get a USD 200 cash rewards bonus for spending a minimum of USD 1000 during the initial 90 days of opening a BOA student account.
• In addition, a student credit card holder is charged a 0% Intro Annual Percentage Rate (APR) for her/their/his first 18 billing cycles for shopping from the selected categories.
• Additionally, the bank also charges 0% APR for any balance transfers initiated within the first 60 days/2 months of account opening. After the conclusion of APR offers, the bank charges a Variable APR on purchases and transfers. Currently, the variable APR ranges between 18.24% to 28.24%. Moreover, you will have to pay a 3% balance transfer fee after the ending of APR offers.

Also Read: Benefits of Axis Student Credit Cards 

Unlimited Cash Rewards

Further, unlimited cash rewards offered on the usage of a Bank of America student credit card also help you earn reward bonuses. In addition, students also get cash rewards without any expiry date, which is a reason enough to opt for this line of credit. 

Here are the key benefits  awarded to students under this feature of a student credit card by BOA:

• You can earn infinite cashback of 1.5% on all your purchases. There is no limit on the cashback amount. Moreover, these cash rewards do not have an expiry date.
• Additionally, you also receive USD 200 bonus after purchasing products worth USD 1000 in the first 90 days of opening a Bank of America international student account.
• Furthermore, the bank does not charge any interest on the first 18 billing cycles of shopping and on balance transfers within the initial 60 days of international student account opening. After 18 cycles and 60 days, the Bank of America charges a Variable APR ranging between 18.24% to 28.24%. 

Saving on Interest

Over and above that, BankAmericard or Bank of America student credit card holders also save on interest rates while purchasing grocery items, shopping online, paying gas bills, making travel expenses, dining outside the university campus, or buying furniture. 

Here are the advantages of using a Bank of America card in terms of saving on interest:

• The bank levies 0% Intro APR on any balance transfers in the initial 60 days and 21 billing cycles on opening a BOA account. After the termination of the Intro APR offers, you are charged with a variable APR that ranges between 16.24% and 26.24%. Additionally, you will have to pay 3% on balance transfers after the conclusion of the Intro APR period.
• Besides, your BankAmericard comes with BOA’s chip technology and USD 0 Liability Guarantee.

Relevant Read: How To Pay Student Loans With A Credit Card? Here Are The Pros And Cons

Travel Rewards

Finally, you also get travel rewards for using the student credit card of BOA. With no annual fees, you also get the benefit of travel rewards in terms of bonus points and low-interest rates.

Let us now explore some of these rewards associated with the Bank of America student credit card:

• You can earn an unlimited 1.5 points for every dollar you spend on any purchase, anywhere, at any time, with no points expiration. Use the card to book your trip without blackout dates and reimburse yourself with a statement credit for travel and dining expenses.
• Besides, you will also receive 25,000 bonus points when you make purchases totalling at least $1,000 within the first 90 days of opening your account. These bonus points are awarded for online transactions.
• In addition, For the initial 18 billing cycles after opening your account, you will enjoy a 0%† introductory APR on purchases and balance transfers made within the first 60 days. After the introductory period, a variable APR ranging from 18.24% to 28.24% will apply. Additionally, a 3% fee is applicable for all balance transfers.

Also Read: Kotak Bank Credit Card for Students

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