Chase has it’s 5/24 rule, and Amex has it’s 5 card rule. Bank Of America wanted to get in on the action, so they rolled out the 2,3,4 rule.
The rule is that BOA will only approve you for
-2 cards within a 2 month period
-3 cards within a 12 month period
and 4 cards within a 24 month period.
Also, on more of a subjective standard, last year I applied for the Bank Of America Premium Rewards Credit Card but my application was denied for having opened too many cards. I had just recently opened an American Express Blue Business Plus Credit Card and a U.S. Bank Altitude Reserve Visa card and an AAdvantage Aviator Red World Elite MasterCard. When I called BOA, to try to move some of my credit from my BOA Virgin Atlantic card, 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. 🙁
Bank of America later added a 24 month rule to some of its cards….for example,
Bank Of America Premium Rewards Credit Card -The terms of the application state that “This Premium Rewards card will not be available to you if you currently have or have had a Premium Rewards card in the preceding 24 month period”
Bank Of America Travel Rewards Credit Card-Weirdly, the terms reward you here for having a card. These terms state that “This Travel Rewards card will not be available to you if you currently have a Travel Rewards card unless you have had that Travel Rewards card for at least 24 months.”
Alaska Airlines Visa Signature Credit Card-The terms state that “This card will not be available to you if you currently have or have had the card in the preceding 24 month period.”
Bottom line-if you already had a card you are applying for, check the terms to make sure you are eligible to get the card another time.