More on Bank of America Credit Card Applications

$5000 Threshold

In the terms of many BofA cards, including Alaska, Travel Rewards and Cash Rewards, the terms mention that based on the credit line you receive you’ll get either the Signature version of the card or the Platinum version. (With regards to some of the cards, there’s also a third, lower version called the Classic version.) With a $5000 or more credit line, you get the Signature and receive Visa Signature benefits and with credit lines of under $5000 you’ll receive the Platinum version which doesn’t have all the same benefits.

With regards to the Alaska Airlines cards, BofA is clear that the 25,000 points signup bonus is only for those approved at a $5000 credit line or more. Those approved for lower credit lines will receive the Platinum or Classic versions of the card and will get a 5000 or 3000 point bonus respectively.

A few days ago, I wrote about my BofA credit card applications. At the time, I was under the impression that all BofA cards need the $5000 credit line in order to be eligible for the signup bonus.

This is incorrect. We clarified with BofA that the signup bonus for the Travel Rewards card is not dependent on a $5000 credit line.

Only the Alaska card mentions the $5000 qualifier in the terms. While other cards do mention the fact that lower credit limits will not get the Visa Signature card and benefits, this will not impact eligibility for the signup bonus. No other card, aside from Alaska, mentions the need for a $5000 credit limit as a prerequisite to being eligible for the signup bonus.

Combine Inquiries

Another point worth mentioning: A reader pointed out that it seems like there will be a new BofA Amtrak card being released on September 12, 2015. If you have interest in that card, you may consider holding off on the 20,000 point Travel Rewards bonus with the hopes that you’ll be able to apply for both the Travel Rewards and Amtrak cards at the same time and combine the credit inquiries.