by Lyle Daly | Updated Aug. 23, 2021 - First published on Dec. 11, 2018
Many or all of the products here are from our partners that pay us a commission. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.
Before you try to get a credit card with Bank of America, read up on the issuer's application rules. Image source: Getty Images.
Updated May 30, 2019
Every card issuer has its own unique policies on credit card applications, and knowing these policies is often the difference between an approval and a denial. Bank of America can be one of the tougher card issuers out there, especially if you've applied for any other credit cards recently.
In this guide I'll be covering application rules, along with a few tips to help you get a Bank of America credit card.
Tips and tricks from the experts delivered straight to your inbox that could help you save thousands of dollars. Sign up now for free access to our Personal Finance Boot Camp.
By submitting your email address, you consent to us sending you money tips along with products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions.
Bank of America can be strict when evaluating credit card applications, potentially denying your application even if you aren't breaking the rules above. Factors that often result in a denial include:
Recent hard credit inquiries are the easiest to control. If you want to apply for a Bank of America card, you may improve your chances by waiting at least three to six months from your most recent credit card application.
While having a banking or investment account with Bank of America doesn't guarantee a successful credit card application, it could help, because not having one is a common denial reason. Some unsuccessful applicants for Bank of America business credit cards have also received offers to get the card by opening a CD with Bank of America. If you're denied on a credit card application for this reason, you could always try calling and offering to open a CD.
Your number of credit cards with Bank of America can also doom an application. In some cases, Bank of America has even closed active credit card accounts after deciding the consumer had too many cards. There is no known rule on this yet, and it seems to be something Bank of America handles on a case-by-case basis.
Since Bank of America could conceivably close all your credit cards with it if you open too many, it's better to choose your cards wisely. There are a few standouts, and which one you should pick depends on what you want in a card.Cash back
Bank of America® Cash Rewards credit card is a stellar cash-back card, whereas both Bank of America® Premium Rewards® Visa® credit card and Bank of America® Travel Rewards Visa® credit card are standout travel cards.
If you need 0% Intro APR financing or you're looking to consolidate debt, the BankAmericard® credit card is hard to beat.
Bank of America has ramped up its rules regarding credit cards quite a bit, so getting approved isn't always easy. Your best bet is picking the card you want the most, following the tips above to give yourself the highest odds at an approval, and not overdoing it by opening too many Bank of America cards.
If you have credit card debt, transferring it to this top balance transfer card secures you a 0% intro APR into 2023! Plus, you’ll pay no annual fee. Those are just a few reasons why our experts rate this card as a top pick to help get control of your debt. Read The Ascent's full review for free and apply in just 2 minutes.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
Copyright © 2018 - 2021 The Ascent. All rights reserved.