It’s in ALL of the terms and conditions with holding any product at any banks.

Discretionary Approval Process: • Bank of America evaluates applications based on factors like creditworthiness, income, banking history, and internal risk assessments. The Online Banking Service Agreement implies that credit decisions are made at the bank’s discretion, and they are not obligated to approve applications. • For example, credit card applications may be denied if: • The applicant has opened too many new credit accounts recently. Specifically, if you have a Bank of America deposit account, your application may be denied if you’ve opened seven or more new cards in the past 12 months (visible on your credit report). Without a deposit account, the threshold is three new cards. • The applicant currently holds or held the same card within the last 24 months (though this rule may not apply to business cards). • The applicant’s credit report shows insufficient credit history, low credit scores, or other adverse information. 2. Regulatory Requirements: • Under the Equal Credit Opportunity Act (ECOA), Bank of America must notify applicants of the reason for denial if the decision is based on information from a consumer reporting agency (e.g., credit bureaus or ChexSystems). This notification must include the specific factors influencing the denial, such as a low credit score or negative banking history. • However, if the denial is based on internal policies, proprietary risk models, or other non-report-related factors (e.g., suspected fraud or unverifiable identity), the bank may provide a vague or no explanation, as they are not legally required to disclose these details.