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Bank of America Rules

3/12 Rule

The Bank of America 3/12 rule is an unofficial guideline that may affect your eligibility for new Bank of America credit cards. It considers the number of new credit card accounts you've opened across all issuers within the past 12 months.

  • If you do not have a deposit account (e.g., checking or savings) with Bank of America, you're likely to be denied for a new Bank of America credit card if you've opened 3 or more credit card accounts from any issuer in the past 12 months.

  • If you do have a deposit account with Bank of America, the threshold increases to 7 new accounts in the past 12 months.

This rule is similar to Chase's 5/24 rule but with different thresholds based on your relationship with Bank of America. (UponArriving)

Additional Considerations

  • The 3/12 rule is distinct from Bank of America's 2/3/4 rule, which limits the number of Bank of America credit cards you can be approved for within specific timeframes:

  • 2 cards in a rolling 2-month period

  • 3 cards in a rolling 12-month period

  • 4 cards in a rolling 24-month period (MyFICO Forums, Doctor Of Credit)

  • These rules are based on anecdotal reports and may not be consistently enforced.

Tips Before Applying

  • Review your credit report to count the number of new credit card accounts opened in the past 12 months.
  • If you're near or over the 3/12 or 7/12 threshold, consider waiting before applying for a new Bank of America credit card.
  • Establishing a deposit relationship with Bank of America may provide more flexibility under the 7/12 rule. (MyFICO Forums)

7/12 Rule

The Bank of America 7/12 rule is an unofficial guideline that may impact your eligibility for new Bank of America credit cards. This rule considers the number of new credit card accounts you've opened across all issuers within the past 12 months.

What Is the 7/12 Rule?

  • If you have a deposit account (e.g., checking or savings) with Bank of America, you're generally ineligible for a new Bank of America credit card if you've opened 7 or more credit card accounts from any issuer in the past 12 months.

  • If you do not have a deposit account with Bank of America, the threshold is lower: you're typically ineligible if you've opened 3 or more credit card accounts from any issuer in the past 12 months.

This rule is similar to Chase's 5/24 rule but with different thresholds based on your relationship with Bank of America. (Doctor Of Credit)

Additional Considerations

  • Business Cards: There are mixed reports regarding the inclusion of business credit cards in the 7/12 rule. Some data points suggest that business cards may not count toward this limit, but this is not consistently confirmed.

  • High Net Worth Clients: Individuals with substantial assets (e.g., over \$250,000) held with Bank of America may have increased flexibility and could potentially bypass the 7/12 rule. (Monkey Miles)

  • Manual Overrides: While the 7/12 rule is generally enforced, there have been instances where applicants received approvals despite exceeding the limit, possibly due to factors like a strong banking relationship or a successful reconsideration request. (Doctor Of Credit)

Tips Before Applying

  • Review Your Credit Report: Check how many new credit card accounts you've opened in the past 12 months across all issuers.

  • Establish a Banking Relationship: Opening a deposit account with Bank of America may increase your threshold from 3 to 7 new accounts, providing more leeway for credit card approvals.

  • Consider Timing: If you're near or over the 3/12 or 7/12 threshold, it may be prudent to wait until some accounts fall outside the 12-month window before applying.

  • Reconsideration: If denied, you can contact Bank of America's reconsideration line to discuss your application and potentially overturn the decision. (PointsMiler)