- The fixed rate is equal to the prime rate plus a margin of 14 percent, and the rate is the same whether you're making a purchase or taking a cash advance.
- The rate isn't tied to a customer's payment history or credit rating like most credit cards.
- There are no fees for going over the credit card limit.
The BankAmericard Basic Visa card doesn't come with a decent interest rate any way you look at it — the APR surpasses 17 percent — but it seems like it might be an option for people who have had credit problems in the past. According to The Wall Street Journal, simplification is now the primary focus for credit card companies and we can expect more cards with straightforward fees and policies in the coming months.