Bank of America Shutdowns Due to Too Many Account Openings/Closings
Bank of America is shutting down all credit card accounts for some customers who have been opening and closing too many of them recently. Two people on r/churning report getting a letter from Bank of America notifying them of the account closures for this reason. One of them just opened its third Alaska Airlines business card within a year and the other redditors had 10 business credit card accounts in five years and keeping each one for at least 13 months.
The letter says that “Effective immediately, we have closed this Alaska Airlines business card account and all individual accounts associated with it because of excessive account closings and openings to accumulate bonus miles under the Alaska Airlines business card program.” You can see the full letter below.
Besides account closings, the letter also notes that future credit card applications might be declined. So it is not clear what is considered too many and whether this is a permanent ban. We also do not know how widespread these bans are.
Let me know in the comments if you have received such a letter from Bank of America. If you have several Bank of America credit card account openings and closings recently, you should hold on applying for more cards for now.