Bank Of America Credit Card Application Rules

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Bank of america credit card application rules. Your number of credit cards with bank of america can also doom an application. Doctor of credit just confirmed that there s a new rule being enforced for bank of america credit card applications. Let s call this the 2 3 4 rule. Introductory 0 apr for your first 12 billing cycles for purchases.

But if you then apply for another bank of america card within two months of these applications you ll likely be denied. They re now adding a further restriction to that. Max of 3 bank of america cards every 12 months 1 year max of 4 bank of america cards every 24 months 2 years months considered on a rolling basis for example if you apply for a card on august 1 2017 that s considered card 1. As a result you could get approved for the alaska airlines visa signature credit card and the bank of america premium rewards credit card if you apply for both of them on the same day or within the same month.

There is a new rule from bank of america whereby they ll only approve you for at most two cards per rolling 2 months three cards per rolling 12 months and four cards per rolling 24 months. With the 2 3 4 rule you can typically only be approved for at most two bank of america cards in a rolling two month period three cards in a rolling 12 month period and four cards in a rolling 24 month period. Data points indicate that this does not extend to business credit cards issued by the bank. Preferred rewards members earn 25 75 more points on every purchase.

Their major rule was known as the 2 3 4 rule where they would typically only approve you for two cards every two months three cards every 12 months and four cards every 24 months. In some cases bank of america has even closed active credit card accounts after deciding the consumer had too many. Historically bank of america has been pretty lax when it comes to their rules so this is a significant change. Bank of america 7 12 rule 3 12 rule for new cards a new report indicates that bank of america will only approve new credit card applicants who have less than 7 new cards opened in the past 12 months or less than just 3 new cards open in the past 12 months for someone who does not have a deposit account with the bank.