Credit Card Rules: Bank of America Edition | PointsMiler — PointsMiler (2024)

FAQs

What is the 2 3 4 rule for Bank of America? ›

Bank of America application restrictions

According to cardholder reports, Bank of America uses a 2/3/4 rule: You can only be approved for two new cards within a 30-day period, three cards within a 12-month period and four cards within a 24-month period.

No, Bank of America does not have a 5/24 rule, which means Bank of America will not automatically reject an application just because you've opened five or more credit card accounts during the past 24 months. The only company rumored to have a 5/24 rule is Chase, but Chase has never openly stated that the rule is real.

Bank of America^® Premium Rewards^® Elite credit card. Bank of America Preferred Rewards^® members earn 25%-75% more points on every purchase. That means you could earn 2.5 to 3.5 points on travel and dining purchases and 1.87 to 2.62 points on all other purchases, for every $1 you spend.

The 3/12 Rule expands on the previously mentioned 2/3/4 Rule by stipulating that a cardmember will not be approved for any new personal or business credit card by BoA if they have opened three or more new credit cards in the past 12 months.

Treasury regulation 31 CFR 103.29 prohibits financial. institutions from issuing or selling monetary instruments. purchased with cash in amounts of $3,000 to $10,000, inclusive, unless it obtains and records certain identifying. information on the purchaser and specific transaction.

Rule 606 of SEC Regulation NMS requires broker-dealers to make publicly available quarterly reports that identify the primary market centers to which they route non-directed customer orders in exchange-listed stocks and equity options.

What is the Rule of 72? Here's how it works: Divide 72 by your expected annual interest rate (as a percentage, not a decimal). The answer is roughly the number of years it will take for your money to double. For example, if your investment earns 4 percent a year, it would take about 72 / 4 = 18 years to double.

2/3/4 Rule

You can be approved for up to two new credit cards every rolling two-month period. You can be approved for up to three new credit cards every rolling 12-month period. You can be approved for up to four new credit cards every rolling 24-month period.

Bank of America's 24-month rule

Bank of America does not allow you to open a credit card account if you currently have that card or had it in the last 24 month. Bank of America's 24-month rule doesn't seem to apply to business cards, however.

Bank of America points are generally worth 1 cent per point when redeemed as a statement credit or for travel purchases. As such, the number of Bank of America points that you'll need for a flight will depend on the cost of your flight. For example, a $250 flight will cost 25,000 points.

Do Bank of America reward points expire? ›

Rewards never expire as long as the account is open, but some of the redemption options have a time limit attached (more on that later). Points can be redeemed for credit against any travel or restaurant purchase. With no foreign transaction fees and a $0 annual fee, this card definitely travels light.

Bank of America currently offers a sign-up bonus of 25,000 bonus points (worth $250 when redeemed as a statement credit toward eligible travel or dining) after spending $1,000 on the card in the first 90 days.

The 3-30-300 Rule for urban forestry and greener cities focuses on the positive impacts of urban forests and other urban nature. Applying the rule can help improve and expand city greening and promote health, wellbeing, and resilience.

Rule 7 — Pursue What Is Meaningful (Not What Is Expedient)

Peterson points out the obvious to us, that life is primarily made up of suffering, and to most of us, the simplest thing to do about suffering is to pursue pleasure at every turn — have sex, do drugs, drink to intoxication, and take without giving a hoot back.

If you've opened four or fewer new accounts in the last two years, you won't be subject to the 5/24 rule. If you're at five new accounts or more, you'll need to wait until your older accounts age past the 24-month mark.

To avoid the monthly maintenance fee on Advantage Relationship banking, you must maintain a combined balance of $10,000 or more in the account each statement cycle OR be enrolled in the Preferred Rewards program and qualify for the Gold, Platinum, Platinum Honors, Diamond or Diamond Honors tier.

The FDIC insures up to $250,000 per account holder, insured bank and ownership category in the event of bank failure. If you have more than $250,000 in the bank, or you're approaching that amount, you may want to structure your accounts to make sure your funds are covered.

2/3/4 Rule

You can be approved for up to two new credit cards every rolling two-month period. You can be approved for up to three new credit cards every rolling 12-month period. You can be approved for up to four new credit cards every rolling 24-month period.

You can avoid the Monthly Maintenance Fee when you meet ONE of the following requirements during each statement cycle: • Maintain a minimum daily balance of $500 or more in your account, OR • Ask us to link your account to your Bank of America Advantage Relationship Banking®, Bank of America Advantage® with Tiered ...