See this post (in a thread in the Alaska Airlines forum):
and maybe look through that thread if you want more, but that post seems to say that someone was able to convert their personal AS to BofA Cash Rewards after 5 months, late last year. So I don't know if there's some minimum time after the card is opened before you can Product Convert, but certainly it does seem that BofA doesn't require everyone to wait a full year.

They also say they couldn't convert their business AS card, and I'm not surprised at that, since you can probably only convert one business card to another business card (not business to personal), and AFAIK BofA has very few other business cards.