Can you have two credit cards from the same company?

If you already have a credit card, it’s possible to get another card from the same issuer. It may even be beneficial. 

As you explore your options, it’s worth looking at interest rates, bonuses, fees and rewards. 

What you’ll learn:

• It’s possible to have multiple credit cards from the same issuer.

• To get the most out of two cards from the same issuer, you could consider applying for cards that offer distinct benefits and rewards, such as a travel miles card and a cash back card.

• Using credit cards responsibly is one way to build credit. That means doing things like paying statements on time each month.

• Pre-approval lets you see whether you’re eligible for credit cards before you apply, and it won’t hurt your credit scores.

Depending on your financial situation, it may be a good idea to have two credit cards from the same issuer. Consider asking yourself these questions when deciding whether to apply for a second card from the same issuer:

In general, the higher your credit scores, the better your chances of being approved for a second card. 

Using credit responsibly, whether it’s with your existing credit card or a second card, could help you improve your credit scores. But one way a second credit card could help involves having more credit available. If you don’t increase your spending, having an additional card can lower your credit utilization ratio, an important credit-scoring factor.

Do you plan to spend more if you’re approved for a second card? Are you looking to spread payments around? Looking at your budget and planning for how you’ll use a card could help you determine whether it fits with your finances. The Consumer Financial Protection Bureau (CFPB) says it’s a good idea to pay off your credit card balance each month. Doing so could help you avoid interest charges and additional debt.

A credit card’s interest rate and annual percentage rate (APR) are generally the same. And a credit card may have multiple APRs. There may be one APR for purchases and another for cash advances. Plus, a penalty APR may apply if you violate your card’s terms by doing things like missing a payment. 

If the new card has a low introductory rate, make sure you know when the promotional period ends. Paying off your balance every month is one way to avoid interest charges on new purchases.

If the card you’re interested in has an annual fee, it’s worth looking at whether the rewards you could earn with the card offset that cost. If the card offers rewards and benefits you’ll take advantage of, it might be worth the annual fee.

Here are some of the possible benefits of having multiple credit cards from the same issuer.

One advantage of getting a second credit card from the same issuer is the potential to maximize your credit card rewards. Say your existing card offers cash back rewards on most purchases. Another card may offer elevated rewards on travel or dining. 

Different cards may also offer additional benefits, such as cellphone insurance, travel insurance or airport lounge access.

Having two credit cards from the same issuer might make it easier to manage multiple accounts by offering a centralized place to manage payments, redeem rewards and more.

In some instances, having credit cards from different issuers may make more sense. You might find better rewards. Or you may want to transfer your credit card balance to take advantage of a lower interest rate.

If you’re approved, you could have two Capital One credit cards. Pairing a Capital One travel rewards credit card with a dining and entertainment card could help you maximize both miles and cash back benefits.

Having two credit cards from the same issuer could help you expand your credit access and maximize rewards. Plus, it could make it easier to manage multiple accounts. If you’re searching for your next credit card, Capital One can help: 

• See if you’re pre-approved for credit cards without harming your credit scores. 

• If you’re looking to build your credit with responsible use, explore cards for people with fair credit. 

• Earn unlimited 1.5% cash back on every purchase, every day with a cash back rewards card. 

• Monitor your credit report and score with CreditWise from Capital One. It’s free for everyone, and using it won’t hurt your credit.