If I Just Got a New Credit Card, Can I Apply for Another?
TPG reader Luis tweeted me to ask:
"@thepointsguy- I just got approved for a credit card. When can I apply for another one?"
I've said it time and time again, but credit card bonuses are probably the most lucrative and easiest way to bring in tons of points and miles. A 60 second application online (and meeting spending requirements) can score you a free ticket to Europe. Some people have to fly all over the world multiple times to get that many miles, but you can do it in seconds in the comfort of your own home. If you pay your bills on time you'll have more available credit, you can get more cards, and your credit score can actually go up. So, if you play this game right, you can travel well, earn lots of points and miles, and maintain the integrity of your credit score. Just make sure to pay your bills on time so you don't accrue any interest or debt.
The trick is knowing when to apply for a card if you've recently been approved for one, and this really depends on the card issuer. If you've applied for a card from one issuer and would like to apply for another with that same issuer, I would recommend waiting about three months before doing so. Some banks are more strict than others, so that three months is an approximation. There are no real steadfast rules for this; knowing when to apply is really all about trial and error.
You may even get declined, but you can always call and speak with a credit analyst about why you think you should be approved. If you understand the perks of the card, you can better explain why you might need it sooner rather than later. For example, you might bring up that the card you applied for has no foreign transaction fees if you're a frequent international traveler, or you could talk up a category spending bonus if you spend a lot on, say, dining or office supplies. You can also talk with the analyst about how you might shift spending away from another bank/card to their card, or an amount of money you plan to spend on the card to hit a bonus or perk. Have them look at your credit report as well, assuming you've been paying your bills on time. Basically, you want to illustrate that you'll be a valuable customer, and the more ways you can find to do that, the better your chances of being approved.
I understand the desire to apply for many cards at once to reap the rewards, but don't overdo it. Only apply if you know you can pay the bills off and manage all your payments. I know--I've got 25 different cards and coordinating payments can often be tricky. Make sure you have a system in place; start off small, and then you can slowly scale it up.
In conclusion, I suggest doing a couple applications for different banks every few months or so. I've been using that strategy for years now and I continue to get approved.
If you have any other questions, please tweet me @thepointsguy, message me on Facebook, or send me an email at info@thepointsguy.com.
[card card-name='Barclaycard Arrival™ World MasterCard®' card-id='22089566' type='javascript' bullet-id='1']
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.