Yes, you can sometimes have two of the same credit card, but whether you’re allowed to depends on the card issuer and the specific card. And even with issuers that allow you to have two of the same card, you’re usually subject to limitations and restrictions.
Can you have two of the same credit card at once?
Whether you can have two of the same credit card at one time depends on each credit card issuer’s policies. Credit card issuers don’t always make it clear that you can apply for the same card multiple times, so we reached out to several major credit card issuers. We asked them to clarify whether a customer could have two of the same card, and this is what we found:
There are a few different ways to end up with two of the same credit card:
-
Request a product change: If you have one credit card from an issuer, such as the Citi Double Cash, you can request a product change to the Citi Custom Cash.
-
The company discontinues a card: A credit card company may discontinue one card, switching all existing customers to another option. If that happens, you could end up with two of the same credit card with the company.
-
Apply directly: Some companies allow you to apply for the same credit card twice. For example, American Express allows customers to apply for the Amex Platinum card multiple times.
-
Become an authorized user: If someone adds you as an authorized user to their account, you effectively have access to that card. For example, say you have a Bank of America Customized Cash Rewards card. Your parent has their own Bank of America Customized Cash Rewards Card and adds you as an authorized user to their account. Going forward, you’d have access to two different Customized Cash Rewards card accounts.
Pros and cons of applying for the same card
Whether it makes sense to apply for two of the same card depends on your situation and the credit card. Consider the pros and cons:
Pros
-
Qualify for extra bonuses and welcome offers: Some credit card issuers allow you to qualify for a second welcome bonus if a certain period of time has passed. For cards with valuable welcome bonuses, that perk can be a significant incentive.
-
More spending power: With a second card, you’ll have a higher overall credit limit, improving your spending ability and credit utilization.
-
Improved budgeting: Some people like to use different credit cards for different expenses, such as using one card solely for entertainment purchases. Having two of the same card lets you take advantage of rewards while separating your spending.
Cons
-
May not be eligible for bonus offers: Some cards limit how often you can qualify for welcome offers. If you qualify for the welcome offer once, you may not be eligible for the offer on the same credit card later.
-
May not qualify: Not all issuers allow you to apply for the same card, and some only allow you to apply for the same card if a certain amount of time, such as four years, has passed.
-
Multiple annual fees: Some credit cards, such as premium travel cards, have high annual fees. If you apply for two of the same card, you’ll have to pay the annual fee twice, and those fees can cut into the cards’ value.
Should you get two of the same credit card?
There are some situations where it can make sense to get two of the same credit card. But, in general, it’s better to have two different cards to maximize rewards and to ensure you have a backup card.
Having two of the same card makes sense in the following scenarios:
-
Your card allows you to earn rewards on categories of your choice, and you want to open a second card to earn rewards on other categories.
-
You can qualify for a valuable welcome bonus.
-
You want to separate expenses.
Two of the same card isn’t a good idea in the following situations:
-
The cards have high annual fees, and you won’t earn enough rewards to offset the fees.
-
You’re already carrying a balance or struggle to pay off the balance in full each month.
-
You aren’t eligible for a second welcome bonus.
If you’re still building your credit, it’s usually a better idea to focus on using one card responsibly before adding a second card to the mix. Pay down your balance, prioritize paying the minimum (or more!) each month, and using your card thoughtfully. When you’re ready, look for a card that complements your existing credit card, such as adding a travel rewards card to a general rewards card to maximize rewards and card benefits.
FAQs
Can you apply for the same credit card twice?
In some cases, yes. Some credit card issuers, like American Express, allow you to have two of the same credit card, but that’s not the case for all companies. Contact the credit card issuer to find out if you’re allowed to have two of the same credit card.
Can you get the welcome bonus twice for the same card?
Typically, , no, you cannot earn the welcome bonus twice for the same card. Most credit card companies prohibit you from earning the bonus more than once, though some allow you to earn the bonus if several years have passed since you first applied.
Is it better to have two cards from the same company, or two from different companies?
In general, it’s better to have two cards from different companies. That way, if a store doesn’t accept a certain type of card, you have a backup handy.
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn’t include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
