What is the Bank of America 2/3/4 Policy? What is the Bank of America 2/3/4 Policy?

What is the Bank of America 2/3/4 Policy?

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Offers for Bank of America cards mentioned in this post have been updated as of 08/26/2023

Bank of America has a new rule for credit card applications, which while not the same as Chase’s 5/24 rule, does place restrictions on new card approvals based on previous, recent card approval history.


The new rule restricts the number of new Bank of America cards you can open in any given time period; currently referred to as the 2/3/4 rule. The rule limits you to:

  • 2 new Bank of America cards in any 2 months period
  • 3 new Bank of America cards in any 12 months period
  • 4 new Bank of America cards in any 24 months period

The rule affects all Bank of America issued credit cards, including the Alaska Airlines Visa® credit card and the Bank of America® Premium Rewards® credit card. However, data points currently appear to be pointing to business cards not counting when 2/3/4 is calculated.

Read more: Bank of America Premium Rewards Elite Credit Card Review

How 2/3/4 Differs From Chase’s 5/24

The new policy is starkly different from Chase’s 5/24 rule, which can be much more restrictive and difficult to manage.

The fundamental difference is that the 2/3/4 policy only applies to cards issued by Bank of America, while the Chase’s 5/24 applies to cards from all card issuers.


Bank of America isn’t focusing on what you are doing with other card issuers, but they’re limiting your ability to obtain new card accounts with them within a given period.

How 2/3/4 Differs From Amex's Once in a Lifetime Bonus

American Express’ policy of limiting card signup bonuses to once per lifetime is significantly more restrictive than what Bank of America is doing. You can still potentially qualify for new account bonuses more than once with Bank of America, just make sure you're not within the 2/3/4 range and that you'd otherwise qualify for a new card account.

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While new restrictive credit card rules are never something to celebrate, some can be much more of a hassle to manage than others. While Chase’s 5/24 policy means you have to have a long-term card strategy across all financial institutions, the new Bank of America rule means you only need to come up with a strategy for their cards, and still leaves you plenty of options for cards issued by other financial institutions.

Source: Doctor of Credit

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