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Credit Cards

Bank of America’s New ‘2/3/4’ Approval Rule

Bank of America’s New ‘2/3/4’ Approval Rule
Caroline Lupini

Banks are starting to follow in the footsteps of Chase and develop rules regarding how many credit cards it’s possible to get and how often. The newest rule that we’ll have to pay attention to is Bank of America’s ‘2/3/4 Rule.’

Here are the basics of the rule. Bank of America will only approve you for:

  • Two cards per rolling 2 months
  • Three cards per rolling 12 months
  • And four cards per rolling 24 months
According to Doctor of Credit, it’s possible for this rule to be overridden by a representative based on prior relationship with Bank of America, but you probably won’t have much luck going that route.
While it’s no fun to add another to the list of restrictions, this one isn’t as bad as Chase’s 5/24 rule. It only considers credit cards from Bank of America, so you’re still free to get as many cards are you want to and are able from other banks whereas Chase’s 5/24 considers almost all cards from any bank. This rule will mainly affect people who have been hitting up the Bank of America Alaska card every 90 days, as that will no longer be a possibility.
It’s not yet known whether or not business cards count toward your 2/3/4 numbers, but based on the data so far it is looking like they don’t.
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