Can You Have Two of the Same Credit Card?

One of the most frequently asked questions I get is, "Why do you have multiple of the same credit card?" In this post, we'll cover which cards you can have multiples of, the general policies, and the cards I have.

Can You Have Two of the Same Credit Card?

Yes, depending on the credit issuer.  With most major issuers, it's possible to hold two of the same credit card. The main issue is HOW you obtain multiple of these cards.

In most cases, you'll need to product change a card to hold two of the same credit card.

Important: You do NOT receive an intro bonus when you product change a card.

For example, if you product change a Chase Sapphire Preferred® Card to a Chase Sapphire Reserve®, you do not receive a bonus for the Chase Sapphire Reserve.

Some people obtain a second Chase Freedom Flex® card from getting the Chase Sapphire Preferred and product changing the card after the first year. You will not receive an intro bonus for the second Chase Freedom Flex.

For some credit issuers, if you currently have the card, you cannot apply for the same card. The application will automatically get rejected. Always check the card offer details and terms for the most accurate information.

Bank of America

Bank of America is more flexible with having multiple cards, but restrictions do apply for select products. You can have multiple Better Balance Rewards and Cash Rewards cards.

For example, the Bank of America Alaska card is not available to you if you currently have or have had the card in the past 24 months.

One product that is no longer available is the Better Balance Rewards card. The system allowed me to apply for multiple at the same time, and they were approved. However, Bank of America did close two of the accounts after enforcing their new application rules.

American Express

American Express lets you apply for the same product, but you will not receive the intro bonus again due to the "once in a lifetime" rule.

I don't recommend submitting multiple applications all at once; otherwise, the system may view them as duplicate applications and automatically reject them. Space the applications out by a few months.

Keep in mind that applying for a card is different from upgrading a card. When you upgrade a card, there are often upgrade offers after you spend "x" amount in "x" months.

I only recommend doing the product change if you currently have or had the card for the intro bonus in the past, otherwise, you might not qualify in the future.

Watch the video below for the Amex product change strategies.

Chase

Chase allows you to earn an intro bonus for a product once every two years, except for the Sapphire cards, which are once every four years. 

However, it is possible to product change to a card you already have.

Reminder: You do NOT receive an intro bonus when you product change. 

For example, you can sign up for a Chase Freedom card and earn an intro bonus. If you also have a Chase Sapphire Preferred that you no longer get positive expected value from, you can product change the Sapphire to a second Chase Freedom card.

Why Would You Want Two of the Same Credit Card?

There are two main reasons for why I have multiple of the same credit card:

1. No annual fee cards with high category point multipliers
2. Cards with an annual fee that offer a free hotel night each year or travel credits

No Annual Fee Cards with Categories

Rotating category cards are some of my favorite cards to have duplicates. For example, the Chase Freedom Flex card earns 5% on up to $1,500 in combined category purchases each quarter you activate.

There are some categories that I can easily maximize, so having a secondary card helps me earn more points.

Another example is the Ink Business Cash® Credit Card that earns 5% cash back on the first $25,000 in combined purchases on office supply stores; internet, cable, and phone services. Some office managers who carry the Ink Business Cash® Credit Card can easily maximize the $25,000 in combined category spend each year. Having a secondary Ink Business Cash® Credit Card would help earn points faster.

You can product change the Ink Business Preferred® Credit Card or Ink Business Unlimited® Credit Card to a secondary Ink Business Cash® Credit Card. Business cards can only be changed to business products, and not personal cards.

Annual Fee Cards with Free Nights or Travel Credits

The second group of cards is ones that have annual fees, but you don't need to spend a lot on the card to derive positive expected value.

The best example is the Amex Hilton Aspire that has a $450 annual fee and comes with a free weekend certificate and resort credits. Since I can redeem the free weekend certificate at high-value properties, I derive more than $450 in value each year.

The automatic Diamond status has also saved me hundreds of dollars on breakfast and executive lounge access.

Your mileage may vary depending on where you plan to redeem the free weekend night. I currently hold two Amex Hilton Aspire cards.

Overall Thoughts

Having multiple of the same credit card isn’t for everyone. I wouldn’t recommend it unless you have a specific use case like maximizing spend categories or utilizing travel benefits.