topic Multiple Cards Question in Credit Cards

Multiple Cards Question

Anonymous — Tue, 22 Mar 2016 17:55:19 GMT

I often see people with more than one of the same credit card. What is the reason for this? and why would a creditor issue someone more than one? Why not just increase the credit limit instead? If you would like to apply for a secnd card (Capital One Quicksilver for instance) would you just apply the regular way on the website after already having one card?

Re: Multiple Cards Question

Anonymous — Tue, 22 Mar 2016 18:37:39 GMT

@Anonymous wrote:
I often see people with more than one of the same credit card. What is the reason for this? and why would a creditor issue someone more than one? Why not just increase the credit limit instead? If you would like to apply for a secnd card (Capital One Quicksilver for instance) would you just apply the regular way on the website after already having one card?

Welcome to the forums.

Sometimes people have multiples of the same card because they find the creditor to be stingy with credit limit increases but more than willing to issue a new card of the same type with a sizable new credit limit. This is often the case with Capitol One. Additionally now that CapOne allows consolidation of their cards into one card, it's a way of achieving a much higher credit limit that isn't possible by standard credit limit increases.

Other times people will have two of the same card to get a second bonus from the same creditor. This also is applicable to CapOne. Also people will do it when a card has limits on their rewards for a quarter and by having two, you can achieve twice the rewards for that quarter.

Not it all creditors will allow you to have two of the same card. If they do, such as CapOne, you apply for the second card thru the regular application process .

Re: Multiple Cards Question

jbsea — Tue, 22 Mar 2016 18:44:48 GMT

One more reason I can think of is DW and I both have a PRG. She signed up for the bonus but has not used it much since. But it can happen again that she might want her own card that I may already have and we are always AU on each other accounts.

Re: Multiple Cards Question

Anonymous — Tue, 22 Mar 2016 23:24:22 GMT

Also some cards have caps on rewards. The no-longer-available Sallie Mae MC has a $500 per month limit for 5% on groceries (I think...). So some people have two since $500 wasn't enough.