Can you have two of the same credit card?

Yes, it is possible to have two of the same credit card, but the ability to do so depends on the credit card issuer and specific card. While some issuers allow multiple applications, they often impose limitations and restrictions. It is not always clear to customers that they can apply for the same card multiple times, so we contacted major credit card issuers to clarify their policies.

There are several ways a person might end up with two of the same credit card. They could request a product change, for instance, switching from the Citi Double Cash to the Citi Custom Cash. A credit card company may also discontinue a card and switch all existing customers to another option, resulting in two of the same card. Some companies permit customers to apply for the same card twice, such as American Express allowing customers to apply for the Amex Platinum card multiple times.

Adding an authorized user to an account can also result in having two of the same credit card. For example, if a parent has a Bank of America Customized Cash Rewards card and adds their child as an authorized user, the child gains access to two Customized Cash Rewards card accounts.

Deciding whether to obtain two of the same credit card depends on the individual's situation and the specific card. One potential benefit is the possibility of earning extra bonuses and welcome offers if a certain period of time has elapsed since the initial application. Additionally, having a second card can increase overall spending power and credit limit, making it easier to manage budgeting and expenses.

However, there are drawbacks to consider as well. Some cards place limits on the number of times a welcome bonus can be earned, and applicants may not be eligible for the same bonus offer again. Furthermore, if a card has a high annual fee, applying for two of the same card would result in paying the fee twice, which could diminish the card's value.

In certain situations, it may make sense to have two of the same credit card. For example, if a card allows rewards to be earned in categories of choice, obtaining a second card could enable earning rewards in different categories. Additionally, if a significant welcome bonus is available and the time requirement for eligibility has passed, applying for two of the same card could be advantageous.

However, it is generally not recommended to have two of the same card if they carry high annual fees and the rewards earned do not sufficiently offset those costs. If a person already carries a balance and struggles to pay it off in full each month, applying for two of the same card would not be advisable. Furthermore, if a person is still building their credit, it is usually better to focus on responsibly using one card before adding a second one.