Starting Aug. 23, 2021, the $0-annual-fee card, which didn’t previously feature a sign-up bonus, is offering the following: $100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of account opening. This new bonus is in addition to the card’s promotional interest-free offer: 0% intro APR for 18 billing cycles on purchases and on any balance transfers made within 60 days of account opening, and then the ongoing APR of 12.99% – 22.99% Variable APR.

The BankAmericard® credit card‘s $100 statement credit is a decent offer, especially for a card that didn’t have a sign-up bonus previously. And you could use the credit to partially cover the card’s balance transfer fee.

However, if your goal is to pay down existing debt with the card, then making new purchases to hit the bonus spending requirement likely won’t make sense. You could end up accruing more debt on top of your initial balance. This is because after the card’s interest-free window for balance transfers and purchases ends, all new purchases that you don’t pay off in full, as well as any unpaid balance from the intro period, will incur the card’s ongoing APR.

Plus, the card doesn’t earn rewards, which means that beyond its new bonus and introductory offer, it doesn’t provide much long-term value.

Still, if you’re able to stay on top of your spending and pay it off on time and in full every billing cycle, the new bonus can prove to be a useful benefit.

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