Credit Card Rules: How Often Can You Apply?

Credit card welcome bonuses are the easiest way to earn rewards quickly. You might be eager to apply for as many new cards as you can, as fast as possible, but that might not be the best idea.

If you take that approach, you’ll likely run into resistance before you know it. Banks may decide not to award you a welcome bonus if you’ve already received one recently, even if they approve your application.

Each bank has its own policies in place. Some rules are more strict, and some are more strictly enforced. Many are laid out in the credit cards’ terms and conditions, while others are patterns we’ve identified.

Here are some rules you should follow to avoid being deemed ineligible for welcome bonuses.

TD: 12-Month Rule

Let’s begin with TD, with one of the more complex and easily-misunderstood rules.

TD doesn’t have any firm rules around credit approval, but their terms and conditions do “reserve the right to limit the number of accounts opened by one person, and the number of [points] awarded to any one person”.

Basically, TD outright tells you that they might be draconian for any arbitrary reason. In practice, though, their credit cards clearly state the rewards you should expect to receive. I’ve never seen them be less generous than these specified limits.

Here’s the wording of the fine print on the TD Aeroplan Visa Infinite Card:

If you have opened an Account in the last 12 months, you will not be eligible for this offer.

On the surface, this still seems quite restrictive. It sounds like you can only get one welcome bonus from TD every 12 months.