Bank of America Credit Card Application -

Bank of America Credit Card Application Guide – What to Know Before You Apply

Bank of America has online credit card applications for credit cards that earn cash back, let you earn travel rewards and perform 0% APR balance transfers.

It also rewards you by being a banking customer through a unique rewards program. This can increase the amounts of rewards you can earn when redeeming points for cash back or travel miles.

We will break down what you should know before you apply with a Bank of America credit card application.

What You Should Know Before You Apply?

Bank of America has a rule that will limit the new credit cards you can apply for during a specific time period. It is known as the 2/3/4 rule.

This rule is in regards to applying for Bank of America credit cards.

Below we break down the details so that you will have a heads up before filling out a Bank of America credit card application.

1. The first portion of the 2/3/4 rule is the number 2. The two is for 2 cards in a rolling two month period.

2. The 3 in the 2/3/4 rule means 3 cards in a rolling twelve month period.

3. The 4 in the 2/3/4 rule is for four cards in a rolling 24 month period.

You will want to keep this 2/3/4 rule in mind when applying.

What is the Minimum Criteria for Creditworthiness and Income?

1. The first thing you should ask yourself is if you have established credit. This just means that you make your payments on time to credit accounts. The preferred timeframe is two years.

2. You will also want to show that you have stable employment with a steady income.

3. Your Credit Score should also meet the minimum requirements for the Bank of America credit card application you are filling out.

To get the lowest interest rates, best benefits and rewards, you will need a good credit score.

What is the Bank of America Preferred Rewards Program?

The Bank of America preferred rewards program offers a banking member 25% to 75% bonus on all your rewards earnings. This is as long as you maintain a certain minimum balance across any Bank of America account.

You will need an average balance of at least $20,000 to qualify. This is for the minimum level of rewards. So if you have $10,000 in a Checking and say $10,000 in savings this gives you $20,000 between both accounts. Now you must maintain this as it is a 3 month average.

The top Preferred Rewards are when you keep a balance of at least $100,000 in total for all your accounts. This can also include a brokerage account with Merrill.

So if you have say $50,000 worth of dividend stocks in your Merrill brokerage account + $20,000 in checking and $30,000 in savings you get a 75% bonus on credit card rewards.

Even if you do not have the minimum $20,000 in your various accounts, you at least can understand at some point how the rewards program works.

Why it Helps to Be a Customer?

Just being a customer of Bank of America can help you when applying for a credit card. Having a banking relationship is always a good idea when applying for any type of credit.

The main accounts will be a checking, savings, brokerage, credit cards, debit card.

The longer you are a customer of the bank the better.

Why You Should Manage Your Debt and Credit History?

By managing the amount of debt you carry vs your available credit the better your chances when applying for a new credit card.

You want to show you have established credit accounts that you have paid off. The age of your accounts does matter and reflects positively on your credit score.

Pay down as much debt as possible over time.


By taking the these steps outlined in this article you should build your credit score and qualify for the best low interest credit cards.

Make sure you understand the 2/3/4 rule before applying for additional Bank of America credit cards within those time periods.

When applying with a Bank of America credit card application, make sure you understand the interest rate and fees.

Be responsible and always pay off the balance each month when using cash back credit cards to build rewards.

When paying on a balance transfer credit card, make sure you are making high enough payments to have the balance paid before the intro period ends.

We hope you find the information in this Bank of America credit card application guide useful.

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