I applied online for this Bank Of America Premium Rewards Credit Card when it debuted the other day but my application was denied immediately. Huh? I called. I certainly was not denied for my credit score which is consistently well into the mid to upper 700s. I was in fact denied for having opened too many cards lately (which I have). In the last few months, I have opened an American Express Blue Business Plus Credit Card, a U.S. Bank Altitude Reserve Visa card and an AAdvantage Aviator Red World Elite MasterCard. I offered BOA the option of trying to move some of my credit from my BOA Virgin Atlantic card, but they still wouldn’t budge. They informed me that there is no hard and fast rule like the Chase 5/24 rule but it is more of a subjective standard. I will try back in about 6 months.
But, guess who was approved? Yup, Rob!. He got approved immediately despite having a lower credit score than me. The only card he has opened in the last few months is the American Express Blue Business Plus Credit Card, so the number of new accounts for him didn’t come into play.
So now we await the new card and 50,000 Bank Of America Premium Rewards points, in simpler terms, $500!
