Each Bank has it's specific rules when it comes about approving new credit cards applications. They are detailed as it follows:
AMERICAN EXPRESS:
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currently offers one opening bonus per lifetime* per credit card product.
* (7 years from receiving the first bonus)
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maximum accounts opened with AmEx: 5. Excludes charge cards (green, gold, platinum and plum cards)
CHASE:
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5/24 rule. The bank is known for requiring applicants to meet the 5/24 rule, which means that if you’ve opened five or more credit cards with any issuer in the last 24 months, it is likely you won’t be approved for a new Chase card (even if you’ve since closed the cards).
CITI:
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Waiting period of 8 days after first cc application to apply for another, only 2 credit cards applications in 65 days and as an additional rule and limitation of 1 card per program every 2 years.
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24 months waiting period for receiving the intro bonus offer for American Airlines co-branded cards from the last opening or closing of such account.
BANK OF AMERICA:
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2/3/4 rule 2 Bank of America cards per 2 months, 3 Bank of America cards per rolling 12 months, 4 Bank Of America cards per rolling 24 months.
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Known to deny new applications for not having a previous banking relationship
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NEW: If you have a banking relationship with BofA your new credit card application will be denied if you have 7 new applications in the past 12 mos, or if you don't have a banking relationship the rule seems to be a denial if you have 3 new cards in the past 12 months.
BARCLAYCARD:
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Very selective and wants to see utilization of cards before granting additional cards.
CAPITAL ONE:
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Inquires all 3 credit bureaus before making a decision.
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Denies applications if had too many inquires.
US BANK:
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Also selective, advisable to wait at least 4 months between applications.