EDIT June 18, 2018: Keep in mind Bank of America’s most recent 2/3/4 rule. You can only be approved for at most two cards per rolling 2 months, three cards per rolling 12 months and four cards per rolling 24 months. While at first glance this may appear to be similar to the Chase 5/24 rule, it is actually much more lenient. While the Chase 5/24 rule applies to ALL new credit cards opened, the Bank of America 2/3/4 rule only counts cards you have opened with Bank of America.
I have twice now applied and been approved for multiple Bank of America Alaska Airlines credit cards on the same day, resulting in only one credit pull each time. It also worked for my father as well.
This resulted in a net gain of 93K Alaska Airlines points, 3 companion passes (two for free and one for $99), all for a net fee of $25 and one credit pull. At the time the personal cards were each offering $100, while the annual fee for each of the three cards was $75.
While there are reports of people applying for and being approved for more cards at once, I don’t want to raise too many red flags as there are also reports of people’s Bank of America accounts being closed for suspicious activity!
I’ll start off about why I chose the Bank of America Alaska Airlines credit card and then I’ll get into the steps for you to do the same!
Alaska Points Are Very Valuable
Alaska Airlines points are among the most valuable in the points and miles hobby. The reasons are numerous but center around their free stopover on one way award tickets (two on a round trip) and the relatively low number of points required to redeem awards. For example to redeem a business/first class award ticket on Cathay Pacific from the US to anywhere in Asia it costs 50K/70K Alaska miles vs 70K/110K miles on American. AND you get a free stopover on Alaska!
We recently flew on a Cathay Pacific 777-300ER First Class Flight from LAX-HKG, had a free stopover in Hong Kong and then continued on a Cathay Pacific Business Class Flight from HKG-TPE all for 70K points!
Bank of America Combines Multiple Credit Card Applications into One Pull
I found out about 6 months ago that you can actually be approved for multiple credit cards on the same day. And if done correctly it will result in only one credit pull! This is great because I get the benefit of multiple credit card signup bonuses without a big impact on my credit score. For a better understanding on how this is possible, check out Combining Multiple Credit Card Applications into One Credit Pull.
Also see my Guide to Credit Card Application Rules and Beginner’s Guide if you haven’t read those yet. That will give you a solid foundation to get into the more advanced technique of applying for multiple cards on the same day.
EDIT June 18, 2018: Keep in mind Bank of America’s most recent 2/3/4 rule. You can only be approved for at most two cards per rolling 2 months, three cards per rolling 12 months and four cards per rolling 24 months. See above.
Bank of America Cards Are (Mostly) “Churnable”
The word “churnable” means that you can apply for the same card over and over to keep getting the signup bonuses. Now that many banks restrict bonuses to once every 24 months or worse once per lifetime, being able to get a bonus every few months is fantastic!
While there are conflicting reports of the churnability of Bank of America cards, if done correctly it should work. Take a look at these websites before applying so you understand the application rules (Guide to Credit Card Application Rules, Are the Alaska Cards Still Churnable?, 23 Things Everybody Should Know About B of A Credit Cards, Flyer Talk)
Steps to Apply for Multiple Cards at Once
- Open 3 browsers, fill out the entire application but don’t hit send yet until all applications are fully filled out. Remember we want the timing to be as close together as possible.
- Always hit apply on the most important card first as this has the highest chance of receiving an instant approval.
- Hit send on each application in quick succession.
- The first one may be auto approved (hopefully), the others will probably go into pending. Don’t be alarmed, this is normal
- Immediately call the reconsideration line for any applications that went into pending or even denied. The most likely reason for the pending status is to verify your identity and confirm that it was indeed you who sent in the application! This is done to prevent fraudulent activity (aka someone getting your info and opening a ton of cards). No need to discuss that you’re opening multiple cards to the representative unless they bring it up, just ask if they needed any more information to process your application. If they ask why you’re opening multiple cards (or multiple of the same card!) you can tell them something along the lines of wanting to keep certain purchases separate.
- Make sure to read how to make reconsideration calls before applying or calling in.
- Repeat steps for each card that goes into pending. If no success remember hang up and call again!
This can be done about every 3-6 months! Things to note for this to work:
- After you meet the spending requirement lower your limit to 5K per card. This is because when you just cancel a card, that credit is tied up for a period of months or even up to a year. Bank of America thinks that it has still extended you that credit even though you no longer have the card, and may not issue you further cards due to having too much credit open! If you lower the credit limit first, the credit is tied up for a shorter period of time.
- After your bonus posts cancel the cards (but not too close to your bonus posting!). This is because there are reports of Bank of America not allowing you to be approved for the Alaska Airlines cards if you already have one open. Also there may be a maximum of four cards that Bank of America allows you to have open at a time, according to Doctor of Credit.
- A few weeks or months after canceling your card, repeat the process again! Make sure it has been at least 90 days after your previous application, according to Million Miles Secrets.
- Send me nice letters from your first class ticket to Bali 😉