Why Is it So Hard to Get the Bank of America Travel Rewards Credit Card? (2024)

FAQs

Why Is it So Hard to Get the Bank of America Travel Rewards Credit Card? ›

Chip Lupo, Credit Card Writer

You'll have the best approval odds if you apply for the Bank of America Travel Rewards card with a good to excellent credit score (a FICO score of 670 or higher or a VantageScore of 661 or higher).

Your income and debt-to-income ratio (DTI): Your income, monthly housing expenses and other bill payments can affect your approval and credit limit. Some premium cards have a minimum required credit limit, which means you might not get approved if your income or DTI doesn't qualify you for at least that credit limit.

It is not very hard to get a Bank of America credit card because the issuer offers cards for people with bad credit or better. One of the easiest credit cards to get from Bank of America is the Bank of America® Customized Cash Rewards Secured Credit Card.

The minimum Bank of America Travel Rewards credit limit is $500.

The Bank of America® Travel Rewards credit card is hard to get because it requires excellent credit for approval, which means you need a credit score of 750+ to have good odds of being approved. This requirement may be difficult for the average American to meet.

The Bank of America® Customized Cash Rewards Secured Credit Card is the easiest Bank of America credit card to get because you can get approved with bad credit. This means the odds of approval are good even with a credit score below 640.

It can be pretty hard to get a travel credit card because most require a good to excellent credit score of 700+ for approval. Fortunately, there are some good travel credit cards available to people of all credit levels, including people with limited credit or bad credit, so you just need to choose wisely.

A hard inquiry from a card application can cause a small, temporary drop in credit scores. A denial or approval won't hurt your credit scores, because decisions aren't reflected in credit reports. When making lending decisions, card issuers use credit reports and credit scores to determine creditworthiness.

Reasons you may be denied for a credit card

If you have a short or nonexistent credit history, you may not qualify for a credit card. This can be frustrating if you're looking to build credit, but there are still options available, such as secured cards, credit-builder loans and becoming an authorized user.

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.

Like many credit cards with high limits, the Bank of America Customized Cash Rewards credit card requires excellent credit for approval. Cards with high limits typically require good to excellent credit and offer spending limits with minimums around $10,000 and maximums that can be higher than $100,000.

If you don't have any credit history or have poor credit, consider applying for the Bank of America® Customized Cash Rewards Secured Credit Card* which is designed to help people improve their credit history. It has no annual fee and you can open it with a minimum security deposit of $200.

The Bank of America Travel Rewards credit card would be much more appealing if more people could get it. Instead, you need a credit score of 750 or higher to have a good chance of being approved.

25,000 online bonus points offer (a $250 value) and no annual fee.

You can visit the Site or call Us to redeem Points for a travel statement credit (issued in U.S. dollars) to offset qualifying travel purchases. Eligible travel purchases can be found on the Site. The Redemption value of your Points is 1%. For example: 2,500 Points = $25.00 travel statement credit.

You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Bank of America Customized Cash Rewards credit card, too. Minimum credit score: 750+ (excellent credit).

Credit Bureau used by Bank of America

Bank of America primarily uses Experian reporting data, though it pulls Transunion reports in some states.

Unfortunately, the BankAmericard credit card for Students is very difficult to get if you're the average undergrad. You'll need a good to excellent credit score for the best approval odds. This usually means a FICO score above 670.

What credit score do you need for the Bank of America Premium Rewards card? You will need good to excellent credit (a FICO score of 670 or above or a VantageScore of 661 or above) for the best approval odds when applying to the Premium Rewards card.