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Versatility is the reigning philosophy in the newest and most popular rewards credit card programs these days. The BankAmericard® Power Rewards® Credit Card capitalizes on this market trend by offering its members options to redeem rewards points for travel, merchandise, gift cards or just plain cash back. Along with fair interest rates and a great introductory offer, the BankAmericard® Power Rewards® Credit Card is an ideal means of getting the most out of a credit card.

The BankAmericard Visa’s Power Rewards system is straightforward and easy to understand, but otherwise relatively unremarkable. As with most competing credit card rewards programs, each dollar you spend with your BankAmericard earns you one rewards point. You get bonuses for money spent on gas and groceries. Down the line, you can redeem points for merchandise, gift cards and travel expenses such as airfare and hotel stays. If you're living on a budget, there's also a cash-back option.

The BankAmericard® Power Rewards® Credit Card's introductory bonus-point incentive works by giving you one percent of the value of each purchase back in cash rewards. For groceries, you get 2 percent. For gas, that's 3 percent. There’s no cap on the amount of points you can earn on the BankAmericard® Power Rewards® Credit Card.

The BankAmericard® Power Rewards® Credit Card offers customers competitive interest rates. The APR for standard purchases and balance transfers is a low 12.99 percent for qualified applicants. The Bank of America adds allure to its introductory bonus-point offer by providing 0 percent interest for the first year of billing cycles on the BankAmericard® Power Rewards® Credit Card.

Other interest rates reflect credit card industry standards, except that there is no penalty rate. However, you will pay up to $35 in late-payment fees and up to $25 in returned-payment fees, plus either $10 or 4 percent of wire transfers, balance transfers and cash advances. In addition to applicable fees, cash advances are subject to a 20.99-percent to 24.99-percent APR. While 12.99 percent isn’t an extraordinary standard APR, the fact that the BankAmericard® Power Rewards® Credit Card doesn’t require an annual fee more than makes up for it.

Like most cards in the rewards category, the BankAmericard® Power Rewards® Credit Card features zero-liability protection on unauthorized charges. Bank of America offers around-the-clock online banking as well as the option to configure account alerts for email or mobile devices. Travel-accident insurance is unavailable with this rewards card program.

Bank of America and Visa both have customer-support representatives on hand at all times. In the event of card theft or loss, Bank of America will expedite a replacement to you. We appreciate the added benefit of emergency cash access that the BankAmericard® Power Rewards® Credit Card provides.

BankAmericard® Power Rewards® Credit Card Summary:
7.9/10

The BankAmericard® Power Rewards® Credit Card is a decent credit card with an average rewards program. It's a good choice for earning rewards for basic purchases. We highly recommend the program to customers with a desire for flexible rewards options.

 
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BankAmericard® Power Rewards® Credit Card Visa Signature

Pros
This card rewards everyday purchases, has lenient penalty fees and no penalty APR.

Cons
Bonus points are limited to a dollar amount on quarterly purchases.

The Verdict
: 7.88/10

This card is good for everyday use but lacks the exclusive travel benefits offered by top competitors.