How does applying for the same card you already have work?

[SRT4kid93]

I have heard of people getting stuck in a bucket at low credit limits and then reapplying for the same card and getting a much higher starting limit.

how exactly does this work? Do they cancel your original card and send you the new one? Can you have 2 of the the exact same card?

Like for example can you have 2 Amex gold cards? I know you can have very similar cards like 1 gold and 1 platinum and 1 green Amex. 

[pizzadude]

It varies by lender - some creditors will allow multiple CCs but others will not.

Also in terms of credit limits, this is a YMMV situation.   Some creditors such as Cap1 bucket you at the time of approval and generally won't move your CL up much if you're in one of their rebuilding buckets.

[SRT4kid93]

So it is possible to have 2 of the exact same card? Depending on which lender ?

[pizzadude]

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@SRT4kid93 wrote:

So it is possible to have 2 of the exact same card? Depending on which lender ?

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That's correct,   AMEX I believe allows this, also others like Discover, Cap1, etc..

[Tiggr]

I have two quicksilvers and I am currently pre-approved for a third. I PC'd a journey into a quicksilver about a week after I applied for a quicksilver that I was pre-approved for. So as far as C1 goes, I'd say it might be a good idea because of their bucketing. My two QS have drastically different CLs, also one is Visa and one is MC if that matters for anything.

[SRT4kid93]

@pizzadude @Tiggr 

Why do you think that is? Why is one visa and one Mastercard? I thought cap one only used Mastercard. My savor one is a world elite master card.

it would make sense for a credit card company as large as them to have an agreement with either visa or master card so that all their cards are exclusively 1 or the other, but not both. 

they already have to compete for market share outside of the capital one bubble, win sure they don't want to compete against each other inside capital ones system. Competing for market share. How does capital one decide which to give you? 

[pizzadude]

Cap1 uses both Visa and Mastercard networks for their cards but I don't have insight into how they allocate customer cards between the two.  

Also i think it makes sense they'd use both, if for no other reason than it would be riskier to have all their accounts only one or the other.  

[Zeiram]

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@pizzadude wrote:

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@SRT4kid93 wrote:

So it is possible to have 2 of the exact same card? Depending on which lender ?

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That's correct,   AMEX I believe allows this, also others like Discover, Cap1, etc..

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AmEx told me that I would be allowed to open another BCE or Cash Magnet now that I have a BCP (upgrade from BCE), but due to family lifetime language, you're always going to be in pop-up jail in the Blue family if you do this. So it would have been better to start out with the Cash Magnet, then open a BCP, then upgrade to BCP if I wanted a SUB from every card in that line up.

The Blue cards are really the only practical credit cards AmEx has for everyday spend. The AmEx Everyday and Everyday Preferred (which generates MR points) don't generate enough MR points from everyday spend to be worth a $95 annual fee. Even if you use the Preferred card throughout the month and hit the 30 or whatever slides, you'd only get 4.5 MR per dollar on groceries, for instance. Unless you plan to transfer them out at a partner where they're worth 2 cents each, where you're effectively getting 8% on groceries, you'll only get 2.7% cash redemption value, on a card with a $95 AF. The BCP gives you 6% cash.