Bank of America Adds 24-Month Restrictions to Credit Cards

Bank of America has added some new restrictions to it’s credit cards. Doctor of Credit reports that they now have a 24-month limit, but it varies from card to card on how it is actually implemented.

Bank of America 24-Month Restrictions



Bank of America Cash Rewards Credit Card

The terms on this card now have a 24-month language, but it’s not very restrictive.

  • 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.

It actually suggests that you can get a second card, once you’ve had your first card for at least 24 months. Or you can just close the one you have and get a new one. In this case the 24-month waiting period doesn’t apply.



Bank of America Travel Rewards Credit Card

Again same language on the Travel Rewards card, which lets you get the card again, as long as you don’t currently have it.

  • This Travel Rewards card will not be available to you if you currently have a Travel Rewards card unless you have had that Travel Rewards card for at least 24 months.

Alaska Airlines Visa Credit Card

For the Alaska card the new language is more restrictive. It now limits you to just one new Alaska card every two years, regardless if you have the card or not at the time of application. This was one card that people were able to get multiple times. The 24-month restriction doesn’t apply to the business version for now.

  • This card will not be available to you if you currently have or have had the card in the preceding 24 month period. This does not apply to the business credit card product.

Bank of America Premium Rewards Credit Card

The Premium Rewards card also has the same language as the Alaska card.

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

Guru’s Wrap-Up

Definitely negative changes, but not as bad as what we see from other major banks. The least restrictive terms are on the Cash Rewards Credit Card, which looks like you should be able to get multiple times, as long as you don’t have it at the time you apply. The other cards have now been limited to just once every two years.

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