Update: This popular deal is still available
Bank of America is offering a $200 cash rewards bonus offer after you make at least $1000 in purchases within the first 90 days of account opening with their Bank of America Customized Cash Rewards credit card. There is no annual fee.
Thanks to community member ToMaToSauces for finding this deal.
Slickdeals may be compensated by Bank of America.
Original Post
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Edited September 28, 2021
at 08:36 AM
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Bank of America is offering a
$200 cash rewards bonus offer after you make at least
$1000 in purchases within the first 90 days of account opening with their
Bank of America® Customized Cash Rewards credit card. There is no annual fee.
Slickdeals may be compensated by Bank of America.
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Bank of America - Bank Advertiser
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- You can only get approved for 2 new cards in a 30-day period
- You can only get approved for 3 new cards in a 12-month period
- You can only get approved for 4 new cards in a 24-month period
Apparently it only looks at BofA cards. Where as the Chase 5/24 rule looks at any credit card issued to you, regardless of which company issued it to you.
Edit: Adding the 7/12 and 3/12 rules for BofA higher up to this comment.
"7/12 and 3/12 rule"
"According to this rule, customers with a BofA deposit account will not be approved for new cards if they've opened seven cards (across all issuers) in the last 12 months, while customers without a BoA deposit account will be rejected if they've opened three or more cards in the last 12 months."
Source: https://thepointsguy.co
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Technically if you're a large enough customer, you get 5.25% CB once the actual deposit is made and the 75% bonus is factored in. Not bad for a zero fee card.
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- You can only get approved for 2 new cards in a 30-day period
- You can only get approved for 3 new cards in a 12-month period
- You can only get approved for 4 new cards in a 24-month period
Apparently it only looks at BofA cards. Where as the Chase 5/24 rule looks at any credit card issued to you, regardless of which company issued it to you.
Edit: Adding the 7/12 and 3/12 rules for BofA higher up to this comment.
"7/12 and 3/12 rule"
"According to this rule, customers with a BofA deposit account will not be approved for new cards if they've opened seven cards (across all issuers) in the last 12 months, while customers without a BoA deposit account will be rejected if they've opened three or more cards in the last 12 months."
Source: https://thepointsguy.co
I thought sponsored/affiliated posts/deals are only under the Featured tab?
On a side note, new grad here, I opened like my second CC ~2months ago with the Freedom Chase card for the $200 promo, what's the drawback with opening another CC to get the promo within such a short timeframe?
- You can only get approved for 2 new cards in a 30-day period
- You can only get approved for 3 new cards in a 12-month period
- You can only get approved for 4 new cards in a 24-month period
Apparently it only looks at BoA cards. Where as the Chase 5/24 rule looks at any credit card issued to you, regardless of which company issued it to you.
"7/12 and 3/12 rule"
"According to this rule, customers with a BofA deposit account will not be approved for new cards if they've opened seven cards (across all issuers) in the last 12 months, while customers without a BoA deposit account will be rejected if they've opened three or more cards in the last 12 months."
Source: https://thepointsguy.co
Sign up for a Slickdeals account to remove this ad.
"7/12 and 3/12 rule"
"According to this rule, customers with a BofA deposit account will not be approved for new cards if they've opened seven cards (across all issuers) in the last 12 months, while customers without a BoA deposit account will be rejected if they've opened three or more cards in the last 12 months."
Source: https://thepointsguy.co
Thanks for that info! Yep, definitely applies. I appreciate the clarification. I'll do a better job of reading the terms before applying next time
12 months no interest, $200 cash back, and home improvement rewards. Sign me up!
I thought sponsored/affiliated posts/deals are only under the Featured tab?
On a side note, new grad here, I opened like my second CC ~2months ago with the Freedom Chase card for the $200 promo, what's the drawback with opening another CC to get the promo within such a short timeframe?
Other than that many companies will not approve you if you open X amount of cards within a certain amount of time (Usually 12 or 24 months). For example, Chase has the 5/24 [cnbc.com] rule. BoA has some rules as well.
Honestly since you already have a Freedom card from Chase look into the Freedom Unlimited. It has the same $200 promo, with a much smaller spend requirement. And similar and arguably better rewards categories. It will also allow you to transfer your "cash back" to Ultimate Rewards points down the line should you ever open a Chase Sapphire Preferred or Reserve card.
If you stick with Chase you can also get the "Chase Trifecta [nerdwallet.com]", if you have the patience and discipline to plan which card gets used for each purchase!
I posted this link in another reply, but here are the general restrictions from each card issuer. If you ever get into churning and burning you will want to know the limits!
https://thepointsguy.co
That happened to me some time ago (applied at the local bank). Called them to ask way I was not approved they told me to reapply online, a week later they emailed letting me know that I was approved and sent me the card.