With the Chase 5/24 rule, the Citi 1/24 rule and the American Express “one bonus per card per lifetime” restriction, a Bank of America policy was inevitable.
As of today, there are new restrictions on getting a BofA card that you’ve already had a second time with a new bonus. The restrictions are as follows:
Cash Rewards Card: This card will not be available to you if you currently have a Cash Rewards card unless you have had that Cash Rewards card for at least 24 months.
Travel Rewards Card: This card will not be available to you if you currently have a Cash Rewards card unless you have had that Cash Rewards card for at least 24 months.
This means you can get a new one while holding one, but only after 24 months.
The Alaska Airlines card and Premium Rewards cards are more restrictive: The bonus is unavailable to you if you currently have or have had a Premium Rewards card in the preceding 24 month period.
Note that means that you’d need to close the card and then wait another 24 months to reapply for a new bonus.
The Alaska Airlines Business card does not appear to have a restriction yet.
Considering how all of the banks have been actively working to encourage more spending and less attempts to collect multiple bonuses, this is not at all surprising.
Remember, Bank of America was already limiting you to 4 new cards within a 24 month period.
HT: Doctor of Credit
