While you can apply for a credit card you already have, getting approval for a second card of the same type is rare. It’s easy to see why – most people interested in opening a second, identical card want to maximize their rewards or earn another welcome offer, something banks aren’t keen on allowing. With that said, it’s not impossible to qualify for a card identical to the one you own.
Generally, yes. However, the exact policies of whether you can apply for the same credit card twice depend on the issuer.
Unfortunately, most issuers don’t make their policies explicitly clear when it comes to applying for a second card of the same type. Card applications are judged on a “case-by-case basis,” but you can expect most card issuers to frown upon your attempts at applying for an additional card you already own.
Some of the restrictions you might encounter depending on your issuer include:
If you’re dead set on picking up another copy of a card you already own, check to see if your issuer offers a business version. Business versions of a card often aren’t counted as “identical” to a personal version of the card and could be much easier to obtain.
Finally, you might find that another issuer’s credit cards are similar enough to fill the same role. For example, both the TD Cash Back Visa Card and SimplyCash Card from American Express offer opportunities for unlimited cash back along with no annual fee. Plus, there’s no minimum income requirement to apply, and you won’t find yourself locked out of the welcome offer.
Remember that applying for multiple credit cards at once can negatively affect your credit score thanks to the hard credit pulls issuers will perform during the application process. While this isn’t a huge issue, it’s something to be mindful of if you’re only interested in opening a duplicate of your existing credit card.
If you really love your current credit card and want to open an additional, identical credit card account, there’s little harm in applying aside from the hard credit pull. But given the card restrictions and overall rarity of receiving approval for the same card, you’ll want to compare credit cards to find one that can work as a suitable substitute.
Learn more in our guide to getting a second credit card from the same bank.
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