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Fizz

Fizz vs Bank of America student credit cards

Fizz vs Bank of America student credit cards

Fizz vs Bank of America student credit cards

Bank of America is one of the most popular banks in the US. They have a lineup of four different student credit cards, but these cards leave plenty to be desired. Here’s how they compare to Fizz.

Bank of America is one of the most popular banks in the US. They have a lineup of four different student credit cards, but these cards leave plenty to be desired. Here’s how they compare to Fizz.

Bank of America is one of the most popular banks in the US. They have a lineup of four different student credit cards, but these cards leave plenty to be desired. Here’s how they compare to Fizz.

Apr 3, 2023

Sam Lipscomb

3

min

Student credit cards have long been the only option when it comes to building credit. Bank of America is, traditionally, a very popular option. The bank offers four different credit cards: Customized Cash Rewards, Unlimited Cash Rewards, Travel Rewards, and BankAmericard® for Students.

Each of these cards are slightly different in how they help you earn rewards, but they’re all credit cards, so you’ll need to go through an approval process to get one. As is standard with most student credit cards out there, this process can be complex and frustrating, especially if you don’t have credit to begin with.

To illustrate, here’s a story for you. Last week, I stopped into a Bank of America branch. The teller asked if I had started building credit yet, so I humored him and said no. He gave me a pamphlet inviting me to return to the bank next week to apply for a student credit card, but made sure I knew that there was no guarantee I’d be approved. That’s right - not only did he think I could get denied, he wouldn’t have even let me apply for the card right then and there.

Fizz, on the other hand, doesn’t check your credit. You don’t have to wait a week and you don’t have to come sit down and talk to someone in a bank branch. All you need is a phone, a little personal information, and a few minutes of free time. That’s how much easier it is to build credit with Fizz. Let’s take a look at how else Fizz stacks up against Bank of America’s student cards.

Fees and interest

Aside from our annual membership fee of $70 ($50 for students), Fizz doesn’t charge fees – and we definitely never charge hidden fees or interest to college students, which is part of what makes it such a great option.

First of all, Bank of America charges a late payment fee of up to $40 for any missed payment. Even Discover gives you a free pass on one late payment! But with Bank of America, if you ever make a mistake and forget to pay your bill, you’ll be stuck paying a hefty fee.

On top of that, Bank of America’s student cards charge interest rates that range up to around 25%. If you carry a balance of just a few hundred dollars, you could end up owing nearly a hundred additional dollars by the end of the year. Add any missed payments on top of that, and you could be on the hook for hundreds of dollars in interest charges and fees. And with the high credit limits often granted to new users, you’re almost being encouraged to overspend and go into debt.

Again, Fizz doesn’t charge interest and doesn’t have any hidden fees. Instead of encouraging overspending and debt, we don’t let you spend more than you have and we make sure your purchases are paid off every single day.

Rewards

Of the four Bank of America student credit cards, only three of them let you earn rewards on your spending. Similar to most credit cards, these rewards aren’t localized. You’re given either a set amount of cash back for all your purchases or a varying amount for purchases in certain categories. These percentages are low, usually ranging from 1% to 3%.

Part of what makes the Fizz rewards program so great is that it’s tailored specifically to you as a college student. We partner with national brands that are useful and popular with college students and we also partner with local spots on college campuses around the country. So whether you’re buying new clothes online or running down the street to grab food or coffee, chances are that Fizz has a cashback offer for you. And those cash back percentages can be as high as 25% - a lot higher than the 1% or 3% that Bank of America offers.

Credit and credit building

When it comes to building credit, both Fizz and Bank of America can be beneficial. Both can help build your credit score, but things are easier and more straightforward with Fizz.

If you manage to get through the Bank of America approval process without being denied, there are a lot of things you’ll need to remember. You’ll probably have a big credit line, so you'll have to remember to not overspend. You’ll need to know when to make payments, too. If you forget or can’t make a payment, you’ll get hit with fees and interest charges and your score could suffer.

Fizz wants to make things easy for you. By connecting to your existing bank account, Fizz keeps your from spending more than you have. Plus, with autopay enabled, Fizz pays off your purchases every day, so that you’re never in debt and you’re starting fresh every day.

Bottom line

Frankly, Fizz and Bank of America couldn’t be more different. While both cards can help you build credit, Fizz makes things as easy as possible. College students won’t be on the hook for any fees or interest rates, and we won’t encourage you to take on debt or overspend. It’s as easy as using your current debit card.

Bank of America takes a more complicated approach. If you’re interested in keeping track of due dates, credit limits, budgets, hidden fees, interest rates, and more, then Bank of America might be right for you. But if you’re like most of us, why bother? Apply for a Fizz card and start building credit and earning rewards without the headache!

*This communication is for informational purposes only and should not be considered financial advice.*

Sam Lipscomb

Author bio

Sam is a Kenyon College alum and is head of content at Fizz. He's been a go to personal finance resource among his peers since getting his first credit card during his sophomore year of college. He hails from Washington, DC, loves all things aviation, and currently lives in Los Angeles.

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ShoulderTap Technologies, Inc. d/b/a Fizz © 2024.


40 Wooster Street, Level 2, New York, NY 10013. All rights reserved. FIZZ® is registered in the U.S. Patent and Trademark Office.

ShoulderTap Technologies, Inc. d/b/a Fizz © 2024. 40 Wooster Street, Level 2, New York, NY 10013. All rights reserved. FIZZ® is registered in the U.S. Patent and Trademark Office.


ShoulderTap Technologies, Inc. d/b/a Fizz (“Fizz”) is not a bank. The Fizz Debit Mastercard® (“Fizz Card”) is issued by Patriot Bank, N.A., Member FDIC, pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of the Fizz Card are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of the Fizz Card are offered and managed by Fizz, not our bank partners.


Fizz Members may choose to apply for a Fizz Card, but are not required to. Fizz Membership does not guarantee access to a Fizz Card. Application and eligibility restrictions apply. Over $300 in annual value of Fizz Card based on cash value available to Fizz Card users assuming half of all available rewards and promotions are used. Actual results may vary.


Fizz cardholders: Fizz reports your payment history on the revolving, open-end line of credit accessed by your Fizz Card. Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®  and Transunion® .
For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.


Selected customers reviews above describe individual experiences or results. Individuals in TikTok videos featured above are paid spokespeople. Selected customer reviews above describe individual experiences or results. Actual results may vary. App Store rating as of September 2024.


Credit score sliding scale feature is for informational purposes only. Credit score ranges based on information available on RentSpree. Car loan figures assume a loan value of $30,000 over 72 months and based on information available on CNN. Student loan figures assumes a $35,000 private student loan with a 10-year term and based on information available on CNBC, NerdWallet and Credible. Apartment approval based on information available on BI and RentSpree.


For people with disabilities, including those who are visually impaired, deaf, or hard of hearing, we accept messages via our in-app chat, emails at [email protected], and calls on our answering machine at (940) 260-2704. If you leave us a voicemail, please leave your name and number and a member of our customer support team will return your call.

ShoulderTap Technologies, Inc. d/b/a Fizz © 2024.


40 Wooster Street, Level 2, New York, NY 10013. All rights reserved. FIZZ® is registered in the U.S. Patent and Trademark Office.

ShoulderTap Technologies, Inc. d/b/a Fizz © 2024. 40 Wooster Street, Level 2, New York, NY 10013. All rights reserved. FIZZ® is registered in the U.S. Patent and Trademark Office.


ShoulderTap Technologies, Inc. d/b/a Fizz (“Fizz”) is not a bank. The Fizz Debit Mastercard® (“Fizz Card”) is issued by Patriot Bank, N.A., Member FDIC, pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of the Fizz Card are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of the Fizz Card are offered and managed by Fizz, not our bank partners.


Fizz Members may choose to apply for a Fizz Card, but are not required to. Fizz Membership does not guarantee access to a Fizz Card. Application and eligibility restrictions apply. Over $300 in annual value of Fizz Card based on cash value available to Fizz Card users assuming half of all available rewards and promotions are used. Actual results may vary.


Fizz cardholders: Fizz reports your payment history on the revolving, open-end line of credit accessed by your Fizz Card. Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®  and Transunion® .
For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.


Selected customers reviews above describe individual experiences or results. Individuals in TikTok videos featured above are paid spokespeople. Selected customer reviews above describe individual experiences or results. Actual results may vary. App Store rating as of September 2024.


Credit score sliding scale feature is for informational purposes only. Credit score ranges based on information available on RentSpree. Car loan figures assume a loan value of $30,000 over 72 months and based on information available on CNN. Student loan figures assumes a $35,000 private student loan with a 10-year term and based on information available on CNBC, NerdWallet and Credible. Apartment approval based on information available on BI and RentSpree.


For people with disabilities, including those who are visually impaired, deaf, or hard of hearing, we accept messages via our in-app chat, emails at [email protected], and calls on our answering machine at (940) 260-2704. If you leave us a voicemail, please leave your name and number and a member of our customer support team will return your call.

ShoulderTap Technologies, Inc. d/b/a Fizz © 2024.


40 Wooster Street, Level 2, New York, NY 10013. All rights reserved. FIZZ® is registered in the U.S. Patent and Trademark Office.

ShoulderTap Technologies, Inc. d/b/a Fizz © 2024. 40 Wooster Street, Level 2, New York, NY 10013. All rights reserved. FIZZ® is registered in the U.S. Patent and Trademark Office.


ShoulderTap Technologies, Inc. d/b/a Fizz (“Fizz”) is not a bank. The Fizz Debit Mastercard® (“Fizz Card”) is issued by Patriot Bank, N.A., Member FDIC, pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of the Fizz Card are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of the Fizz Card are offered and managed by Fizz, not our bank partners.


Fizz Members may choose to apply for a Fizz Card, but are not required to. Fizz Membership does not guarantee access to a Fizz Card. Application and eligibility restrictions apply. Over $300 in annual value of Fizz Card based on cash value available to Fizz Card users assuming half of all available rewards and promotions are used. Actual results may vary.


Fizz cardholders: Fizz reports your payment history on the revolving, open-end line of credit accessed by your Fizz Card. Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®  and Transunion® .
For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.


Selected customers reviews above describe individual experiences or results. Individuals in TikTok videos featured above are paid spokespeople. Selected customer reviews above describe individual experiences or results. Actual results may vary. App Store rating as of September 2024.


Credit score sliding scale feature is for informational purposes only. Credit score ranges based on information available on RentSpree. Car loan figures assume a loan value of $30,000 over 72 months and based on information available on CNN. Student loan figures assumes a $35,000 private student loan with a 10-year term and based on information available on CNBC, NerdWallet and Credible. Apartment approval based on information available on BI and RentSpree.


For people with disabilities, including those who are visually impaired, deaf, or hard of hearing, we accept messages via our in-app chat, emails at [email protected], and calls on our answering machine at (940) 260-2704. If you leave us a voicemail, please leave your name and number and a member of our customer support team will return your call.