Technology 

Can you have 2 of the exact same credit cards?

Joe Ford

Can you have 2 of the exact same credit cards?

Generally, most credit card issuers will not allow you to have two of the same credit card. They simply won’t approve the credit card application if you already have an account open with the exact same product. Nevertheless, exceptions exist, so it’s best to call your issuer and ask.

Is it bad to have 2 credit cards from the same company?

You generally can have two credit cards from the same bank, as most issuers allow that, but that’s only a good idea if the cards do not have an annual fee and the rewards or low APR make them worth it.

Does having two credit cards hurt your credit?

Having too many credit cards does not necessarily hurt your credit. In fact, having a few credit cards and keeping balances manageable can help your credit score because it improves your credit utilization ratio. New credit cards also lower your average account age, which can have a negative effect on your score.

Is it better to have one or two credit cards?

That is a common concern, but having more than one credit card can actually help your credit score by making it easier to keep your debt utilization ratio low. FICO cautions that opening accounts that you don’t need just to increase your total available credit can backfire and lower your score.

Do I have to use credit card every month?

There’s no definitive rule for how often you need to use your credit card in order to build credit. Some credit card issuers will close your credit card account if it goes unused for a certain period of months. The specifics depend on the credit card issuer, but the range is generally between 12 and 24 months.

What happens if I don’t use my credit card for a year?

Here’s what happens if you don’t use your credit card: Nothing is likely to happen if you don’t use your credit card for a few months, as long as you make bill payments for any recurring monthly charges. If your credit card charges an annual fee, not using the card won’t get you out of having to pay.