How prior-account and prior-bonus look-back periods determine when a former customer becomes eligible again. Treat this requirement as an operating rule rather than promotional copy. The headline reward should be the last number you trust, not the first rule you act on. The first two details to write down are the length of the prior-account ownership look-back and the length of the prior-bonus look-back.
For this page, the working test is concrete: verify the length of the prior-account ownership look-back, the length of the prior-bonus look-back, the event from which each period is measured, whether joint ownership counts, and whether different products share the same restriction. Do that before you count the reward as expected income. A promotion can be legitimate and still be a poor fit when the qualification path depends on activity you would not otherwise use, cash you cannot comfortably park, or a deadline with no room for ordinary processing delays.
Define the controlling condition before you apply
A look-back period is a retrospective test applied on a reference date such as application or account opening. Banks can use one look-back for prior account ownership and another for prior promotional rewards. Closing an account therefore does not always start the only clock that matters. In practice, treat that statement as the rule you must be able to prove from the offer and your own account record.
For this page, the promotion should answer the length of the prior-account ownership look-back, while the ordinary account documents explain recurring fees and transaction mechanics. Put both sets of terms in the same file and separately confirm the length of the prior-bonus look-back and the event from which each period is measured. That matters because a seemingly small issue—tracking only the closure date—can leave you with a valid account but no reward.
Verify the terms before money moves
The pre-application check should cover the length of the prior-account ownership look-back, the length of the prior-bonus look-back, the event from which each period is measured, whether joint ownership counts, and whether different products share the same restriction. Each item should have either a quoted sentence from the offer, an account disclosure, or a dated bank confirmation behind it.
Promotions are revised, targeted and sometimes channel-specific, so another customer’s experience is not proof of your own terms. Preserve the version tied to your application and explicitly check this risk: tracking only the closure date.
Worked example: calculate the real qualification path
A promotion can say you are ineligible if you owned the checking product in the last 12 months or received a checking bonus in the last 24 months. If you closed the account 18 months ago but received the reward 20 months ago, the bonus look-back still blocks eligibility for about four more months.
Use the example as a worksheet rather than a prediction. Substitute your own figures and settle this point before acting: the event from which each period is measured. A bonus is easier to value once the fragile assumption is visible.
The mistakes that turn a good offer into zero value
The recurring failure points here are tracking only the closure date, forgetting the actual reward-posting date, assuming a different checking tier has a separate clock, ignoring joint accounts, and using approximate month counts instead of exact dates. None of these problems requires a fraudulent or misleading offer; they are ordinary execution errors that the written terms may still treat as disqualifying.
Build the process so this issue cannot surprise you at the end: using approximate month counts instead of exact dates. Early verification is usually cheaper than a support dispute after the promotion has closed.
Records and controls that make the offer manageable
A practical control file should save prior opening and closure confirmations, record bonus payment dates, note the exact look-back wording for each institution, calculate the first safe application date, and recheck current terms before reapplying because rules can change. These records let you answer the three questions that matter later: was I eligible, did I complete the required activity, and has the bank reached the promised payout date?
A useful file is active, not archival. Track this item while the promotion runs: record bonus payment dates. Retain the evidence through payout and finish the file by taking this step: recheck current terms before reapplying because rules can change.
How to decide whether this requirement is worth accepting
Keep separate clocks for account ownership and prior rewards. An eligibility date based on only one of them is unreliable whenever the offer contains more than one look-back rule. Compare the net reward with the effort and liquidity the rule consumes, not just with competing headline bonuses.
For this topic, the decision should turn on whether this point can be verified: the length of the prior-account ownership look-back. The rest of the plan should fit normal banking behavior, and it should also settle whether joint ownership counts. A final stress test is whether the plan still works if using approximate month counts instead of exact dates.
Questions readers usually need answered
Does the clock start when I close the old account?
Sometimes for ownership rules, but prior-bonus rules may run from the reward date instead.
Do joint accounts count?
They can. If you were an owner, many banks can treat that as prior account ownership.
Can the look-back change over time?
Yes. Always verify the current promotion instead of assuming a rule from an older offer still applies.
Original and official sources
Use these first-party or regulator pages to verify current terms, rules and availability before acting. BankOfferScout summarizes the decision; the linked source controls the live product details.
Editorial verdict
Keep separate clocks for account ownership and prior rewards. An eligibility date based on only one of them is unreliable whenever the offer contains more than one look-back rule. For this page, our control point is the length of the prior-account ownership look-back. The promotion is worth pursuing only when that point can be documented and the required activity fits normal cash flow.
The evidence file should include this step: save prior opening and closure confirmations. It should also show the event from which each period is measured. That documentation is especially important because one avoidable problem is tracking only the closure date. Resolve ambiguity before the deadline rather than after the reward fails to post.
Net value still decides the case. Account for fees, taxes where applicable, lost interest and management time, then confirm whether different products share the same restriction. The model should also survive this risk: using approximate month counts instead of exact dates. Close the loop by making sure you recheck current terms before reapplying because rules can change.