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Credit Cards

Credit Card Fees FAQs

  • A yearly fee charged for some credit card products.

    A balance transfer is the movement of part or all of an outstanding balance from one card account to another card account, often held at another financial institution. There is typically a fee if you wish to move the balance from one credit card account to another. Additional details on balance transfer fees will be stated in your Credit Card Agreement.

    A penalty fee that's charged if the minimum payment due on a credit card account is not received by the payment due date.

    A transaction fee may be assessed when making certain cash advance or balance transfer transactions, for example a bank or ATM cash advance, an access check, a balance transfer or a direct deposit. A transaction fee may also be charged if you have overdraft protection on a deposit account that is tied to your credit card. Please refer to your Credit Card Agreement for specific fee amounts.

    A returned payment fee is assessed if a payment on your account is returned for insufficient funds or for any other reason, even if it is paid upon subsequent presentment.

    Yes, you can set up an alert that notifies you via email that a credit card payment is due or that your credit card balance is within a specified amount of your credit card limit. To set up alerts or find out more about the alerts available on your Bank of America® account(s), enroll or sign in to Online Banking and select the Alerts tab.