Bank of America Credit Card Application Rules Update 3/12 and 7/12

As more and more time passes, it is getting harder and harder to obtain credit cards quickly. The most infamous rules out there are Chase’s 5/24 rule and American Express’ once in a lifetime rule.

For a long time, we’ve always wondered what is going on with Bank of America’s approval process. The only thing we really knew involved the number of Bank of America cards you could have within a certain timeframe, but we never had any sort of rule as to getting approved for the card in the first place. 

The credit card community may have done it, and figured out how many cards you can have and still get approved for 

The News

There are two rules that have been discovered involving Bank of America’s approval process. The main difference involves having a bank account with Bank of America or not. The rules are called the 3/12 and 7/12 rules

  • 3/12 Rule: If you do not have a bank account with Bank of America, you can not have 3 or more new accounts within the last 12 months
  • 7/12 Rule: If you do have a Bank of America account, you cannot have 7 or more new accounts within the last 12 months. 

In other words, you can get approved for a Bank of America card if you have been approved for 2 other cards within a 12 month span (without an account), or 6 new cards within a 12 month span (with an account.

It is unclear if these rules apply to business cards, as there are data points on both sides of the spectrum. 

Finally, you can get around these rules if you have $250,000+ invested with Bank of America.

Final Thoughts

If these rules are valid, this is a great service to the credit card community! Before we knew about these restrictions, it just seemed like they were approving or declining people at random. It may now be possible to actually predict whether or not you’ll get approved for a card from Bank of America!

What is your experience applying for Bank of America cards? Do these rules match your experience? Let us know down in the comment section below. 

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