Bogdan Roberts, Credit Cards Moderator
@bogdan_roberts
Yes, you can generally have two credit cards from the same bank, as most issuers allow it. Getting more than one card with the same bank may be a good idea in certain situations, too. That’s because there isn’t one card that offers the best terms for every purchase category, along with the lowest rates and fees. So, using more than one credit card may help you save money by enabling you to get the most out of each transaction.
Benefits of Getting More Than One Card With a Certain Bank
- Having two or more credit cards enables you to adopt the Island Approach. This could mean using a pair of rewards credit cards by matching them with your biggest spending categories.
- You could also use a cash back credit card for daily purchases along with a travel rewards card or a store card for your favorite retailer.
- If you have debt or are planning a big purchase, you can couple a credit card offering a 0% introductory APR with a rewards credit card for everyday spending.
- Having more than one credit card also helps lower your credit utilization, which in turn improves your credit score.
Note that an extra credit card account may also come with potential drawbacks.
Potential Drawbacks from Having Multiple Cards With the Same Bank
- If identity theft is suspected, the bank could block you from all the accounts until the issue is investigated and solved.
- You would not be able to transfer your balance between credit cards from the same institution.
- You need to be mindful of the risks associated with having multiple credit cards in general. Applying for credit cards generally triggers hard inquiries which can cause a temporary dip in your credit score.
- Having more than one credit card gives you another due date to remember and increases your potential to rack up debt. You can avoid this by setting up autopay, especially when having multiple accounts.
Having two credit cards from the same bank can definitely help you save as long as their rewards are aligned with your spending habits and outweigh their fees. If you need help picking a new credit card, feel free to check out WalletHub’s free CardAdvisor tool for a personalized credit card recommendation.
Popular Credit Cards from Our Partners
-
Low Intro APR & Bonus Rewards:
-
Everyday Cash Back:
-
Good Credit:
-
0% Intro APR:
People also ask
How many credit cards should I have for good credit?
You only need one credit card for good credit because simply having an open credit card account is the most efficient way to build and maintain a good (or even excellent) credit score. But the actual number of credit cards you have doesn’t make up a huge part of your credit score – roughly 5%-10%. The more important factors are your payment history, the total amount of your debts, and the total of your credit limits.
...
read full answer by WalletHub, Financial CompanyCan you have two of the same credit card?
No. You cannot have two of the same credit card from the same credit card company at the same time, with two notable exceptions: Capital One and Citibank. People in forums online have shared their experiences with having two different accounts of the same card from both of these issuers, including Capital One VentureOne, Capital One Quicksilver, and Citi Double Cash. In the case of Capital One, some forum users have reported offers to upgrade...
read full answer by Michael Battle, WalletHub Credit Card AnalystHow many credit cards is too many?
The number of credit cards that’s “too many” to handle differs from person to person. Too many credit cards for most people could be six or more, as the average American has a total of five credit cards, but it ultimately depends on how well you can manage one credit card, then two, and so on. Everyone should have at least one credit card for credit-building purposes, though, even if they don’t use it to...
read full answer by WalletHub, Financial CompanyDid we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertisers compensate WalletHub when you click on a link, or your application is approved, or your account is opened. Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.