Bank of America Institutes New 24 Month Terms

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Bank of America 24 months restriction

Bank of America Institutes New 24 Month Terms

The new year is starting on the wrong foot in the credit card world, at least at Bank of America. The bank has implemented new rules that limit how often you can get a new card. It’s a 24 month rule, but it varies from one card to the other. The Cash Rewards and Travel Rewards cards get the more lenient version while the other cards are now limited to just once every two years.

Cash Rewards & Travel Rewards

The terms on the Cash Rewards and Travel rewards cards now have a 24-month language, but it’s not very restrictive compared to what we usually see at other banks.

This Cash Rewards 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.

The language use actually suggests that you can get more than one card, once you’ve had your first card for at least 24 months. If you don’t want to wait, you can just close the one you have and get a new one. In this case the 24-month waiting period doesn’t apply.

Alaska Airlines & Premium Rewards

The Alaska Airlines and Premium Rewards Credit cards have the more restrictive version of the new limitations. The terms state that you can now just get one new card every two years, regardless if you have that specific card or not at the time of application.

This card will not be available to you if you currently have or have had the card in the preceding 24 month period.

Alaska Airlines Business Credit Card

The new 24-months restriction is not yet showing in the business version of the Alaska Airlines card. And it’s actually mentioned in the personal card that the rule does not apply to the business credit card product. Hopefully this one will not be affected.


Bad news from Bank of America to start the new year. The Alaska Airlines card was one card that you could get multiple times and that’s probably the reason for the new restrictions. Now most BofA cards are limited to just once every two years, but at least the Cash Rewards and Travel Rewards cards give you the option to cancel and apply again within that time period.

HT: Doctor of Credit

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