Well, the problem is likely total credit limit across all our BofA cards, so by appllying for yet another BofA card you care about less, just to use the HP, you're making the situation worse for yourself!

Have you been lower credit limit as much as possible before closing any BofA cards? If not, your credit limit that remains on a card when you close a BofA card stays "locked away" for over a year . (Even when you lower the credit limit first as a separate step, it still can take months, but that's way less than "over a year".)

That's why the more BofA cards you open and close (without drastically reducing the credit limit before you close), you just make it harder for yourself to get approved for an Alaska signature card later on.

So you need to decide what's more important to you, getting Alaska miles or "using up" HPs. BofA won't deny you for having wasted an HP, but they may deny you (for an Alaska Sig card) because you chose to not waste the HP by applying for an "at least something" card.