B of A 1/24

Understanding the B of A 1/24 rule:

This rule is applicable to each card individually. As an example, if you close an Alaska Airline personal card within 24 months, you won't be approved for another Alaska Airline personal card (though you could open an Alaskan Airline business card). Same goes for the business version of that card. Close the Alaska Airline business card, and you can't get another Alaska Airline business card for 24 months. The also holds true for the personal and business versions of the BOA Premium Rewards cards. These cards are pretty far down our list of recommendations, so this won't have much impact on most people. Since you'll want your 24-month timer to start as soon as possible, however, you'll want to cancel the card once you have a safe home for your points. In other words, once you have the sign-up bonus, you won't want to hold these cards long-term. Cancel and apply again in 24 months for a new bonus.

** Note: The actual BOA rule states you must wait 24 months after OPENING or CLOSING an account to apply again. But since other BOA rules already prohibit opening a second of the same card, the opening part of the rule is moot as it pertains to the 1/24 rule we've listed here. That's why we only focused our advice on CLOSED accounts with 24 months.

About Approval Rules

Collecting credit card points is largely driven by understanding and abiding by bank rules regarding approval (or disapproval) of cards.  So here’s what you need to know:

• Approval rules are rarely fully publicized by the banks
• We use our own research and data points from other users in creating the rules listing
• Our goal in sharing/using the rule listings is to provide you guidance to avoid getting declined
• There can sometimes be exceptions to the rules, but we try to take a more cautious approach in advising you.