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Can you have two credit cards from the same bank?

Find out the pros and cons to sticking with the same bank for a new credit card.

If you’re looking to add another credit card to your wallet, there’s usually nothing stopping you from picking up an additional credit card from the same bank. However, there are a few points to consider that could affect whether you stick with your bank or apply for a card from a different bank.

If you’re going to pick up another credit card, it pays to grab one that complements your existing card in some way. For example, if you have a card that earns big points on travel, you might want to add a card that helps you earn points on everyday purchases.

Pros and cons of having 2 cards from the same bank

Most banks are happy to have you apply for a second credit card, assuming you’re a responsible credit user. But it could be to your benefit to consider other options aside from your existing bank. Here’s a breakdown of the advantages and disadvantages of having two credit cards from the same bank.

  • Shared reward systems. Many banks operate on a single reward system across most of their credit cards, so you can accumulate points faster and redeem rewards sooner. Check with your credit card provider to find out if this is an option for you.
  • Poor usage affects both cards. If you miss a payment or max out one of your cards, both cards could get hit with a penalty APR or a reduction in your credit limit.
  • Building a positive history. If you have a modest, no-frills card with your current bank, a history of on-time payments and positive interactions with the bank could earn you upgrades.
  • Limited backup options. If one card account is suspended or closed for some reason, you might lose access to both accounts. This could prove an issue if your card is stolen or used fraudulently. You might also run into issues of worldwide card acceptance.
  • Credit score improvements. If your current bank offers you a new credit card offer, they may not perform a hard pull on your credit account. This means your credit score remains steady.
  • Balance transfer limitations. Most banks restrict you from transferring balances between 2 credit cards they’ve issued you.
  • Credit utilization improvement. If you gain access to more credit but use it very little if at all, your credit utilization ratio will improve. This gives the impression that you’re not overly reliant on credit and can handle debt responsibly, which helps your credit score.
  • Card account restrictions. Some banks don’t let you open a new credit card account if you’ve already opened several accounts in a certain time period.
  • It could potentially be easier to get approved. If you meet banks’ eligibility criteria and have a positive credit history, it may be easier to get approved for another card.
  • Welcome offer restrictions. Some banks will simply limit your ability to earn a welcome offer on a new card if you’ve already earned one.

Things to consider before getting a second card

While picking up an additional credit card can improve your financial flexibility and boost rewards, you’ll want to make sure you can make effective use of a second card before applying.

For example, what is your primary purpose in opening a second credit card account? Will you use the card enough to offset any fees? And can you effectively manage finances across both cards?

Bottom line

If you enjoy the service your current bank offers and want to bolster your card rewards, opening up a second credit card account with them could expand your earnings. Just keep in mind that opening a card with a second bank has its own merits and could be a wiser choice depending on your needs.

Frequently asked questions

Written by

Steven Dashiell

Steven Dashiell is an editor for Bankrate and and formally a personal finance writer at Finder, specializing in credit cards, banking and growing and protecting your income. His insights and expertise has been featured on Nasdaq, U.S. News & World Report, Time, CBS, ABC, Fox Business, Lifehacker and Martha Stewart Living, among other top media. Steve holds a BA in English from University of Maryland, Baltimore County, minoring in composition and rhetoric. In his spare time Steve nerds out on birds, paints and plays a whole lot of Street Fighter. See full profile

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