Is It Worth It to Open Multiple Credit Cards With the Same Issuer?

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There are many credit card issuers out there. Keep reading to learn why it could make sense to have more than one card with the same issuer. 

Since credit cards are such an accessible way to build credit and earn rewards on your everyday spending, it sure is convenient that they’re available from so many different companies. This includes big-name banks as well as your neighborhood bank. With so many options, why would you ever bother getting more than one credit card with the same issuer?

Well, doing so can come with some pretty sweet perks. Let’s take a look at why you might want multiple credit cards with the same company.

You can earn rewards on different kinds of spending

A given credit card issuer might have multiple card options, but those credit cards won’t all earn the same kind or rate of rewards, and they likely won’t all be for the same categories. For example, an issuer might have a card that earns 3 points per $1 spent on dining and travel purchases, but a paltry 1 point per $1 for other spending categories.

If you like the company (and its customer service, mobile app, and so on), you might consider opening another card that earns more points for other purchases. Then you can use both and stack rewards. It’s unlikely that you’ll find one credit card that offers a good rewards rate for every single thing you buy, but having more than one card can help you maximize all your purchases. And when it’s time to redeem points (say, to pay for hotel stays on an upcoming vacation), you have more to use.

You can transfer credit limits

One of the cooler perks of having multiple cards with the same issuer is that you can sometimes transfer your credit limits. To give an example, I recently decided to add a third credit card with a particular issuer to my wallet. While I was approved for the card, I was given a very low credit limit, likely because I already had high limits with the two other cards.

I called the card issuer’s customer service line and reached a representative who was happy to help me, and ended up taking some of the credit limit from another card and adding it to my new card. This helped me out, as I got the new card with the hope of using it for more of my everyday spending (based on the rewards categories). Now I can use it without easily maxing it out or worrying about my credit utilization on any one card creeping too high (which would have been likely based on my initial credit limit).

You can more easily manage your credit card accounts

Another great perk of having multiple cards with one issuer is the ease of managing those accounts. Think about it — you can sign into one credit card company’s website and have all those accounts in one place. You can see how much you owe and easily make your payments all in one fell swoop. This makes it a lot less likely that you’ll forget you owe money on a card and accidentally pay late, or miss a payment altogether (this is decidedly no bueno for your credit score).

If you really like a particular credit card issuer, or wish you had a way to earn more points on all your purchases, see what other cards are offered. Having multiple cards with one issuer can make it easier to earn rewards, move credit limits around, and simplify managing your personal finances.

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