Bank of America Credit Card Application Rules
The 2/3/4 rule
Bank of America generally approves at most 2 of its cards in any 2-month period, 3 in any 12 months, and 4 in any 24 months. This counts only Bank of America cards, so cards from other issuers do not affect it.
The 3/12 and 7/12 rule
Similar to Chase 5/24, BofA looks at new cards from any issuer in the past 12 months. If you do not bank with Bank of America, opening three or more cards in 12 months can get you declined; with a BofA banking relationship the threshold rises to seven. A deposit relationship genuinely helps approvals here.
Bonus restrictions and Preferred Rewards
Some BofA cards require waiting about 24 months after opening or closing the same card before you can earn its bonus again, with language that varies by card. Separately, BofA Preferred Rewards can boost your rewards rate by 25 to 75 percent based on your deposit and investment balances, the main reason heavy BofA customers favor these cards.
Preferred Rewards in detail
Preferred Rewards is what makes BofA cards compelling. Based on your combined Bank of America deposit and Merrill investment balances, you reach Gold at $20,000, Platinum at $50,000, and Platinum Honors at $100,000, which boost card rewards by 25, 50, and 75 percent. A flat 1.5 or 2 percent card effectively becomes about 2.6 to 3.5 percent at the top tier. If you are denied, BofA has a reconsideration line. See reconsideration and retention.
Frequently asked questions
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