Credit Cards

[Solved] Any pros or cons about having 2 same credit cards?

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  • Feb 22nd, 2019 6:33 am
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Newbie
Feb 19, 2019
5 posts

[Solved] Any pros or cons about having 2 same credit cards?

Hi,

So I applied for a new credit card (BMO SPC Cashback Student Mastercard) a month ago but it took forever to get it, so I asked if there was any issues about that credit card and they told me they didn't know why I didn't get it. They asked me if I wanted to apply again with them and I said yes. They filled the form with me when I came to a BMO bank.

A few weeks later, I got 2 same credit cards (both BMO SPC Mastercard). One has a 1500$ credit limit and the other one has a 1000$ credit limit. My brother told me to keep the 2 cards and use them, meanwhile my mother told me keeping 2 same credit cards is a bad thing.

I was wondering if there are any pros and/or cons about keeping the 2 same credit cards (in the long term).

Thank you!
Last edited by titaniumtux on Feb 22nd, 2019 6:33 am, edited 1 time in total.
Reason: Title fix
8 replies
Member
Sep 4, 2017
493 posts
153 upvotes
Best advice is to change the $1000 card to another of your choice so it serves a purpose. What's the point of having two of the same?
Deal Expert
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May 8, 2009
15560 posts
14184 upvotes
Going to the Moon
  1. If you can get the welcome bonus on both, then hit minimum spend and grab that welcome bonus on both
  2. Consider how you'd like to use the two cards. If you think you'd keep both (even in the drawer) for the long haul, then remember that with BMO, you'll have to pull them out once in a while even for a small transaction to avoid any inactivity fee
  3. I personally don't see the value in having two of that card. I would suggest that after you collect both welcome bonuses, to merge the credit limits of the two cards, and that gives you more available credit on your BMO MC
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Newbie
Feb 19, 2019
5 posts
titaniumtux wrote:
  1. If you can get the welcome bonus on both, then hit minimum spend and grab that welcome bonus on both
  2. Consider how you'd like to use the two cards. If you think you'd keep both (even in the drawer) for the long haul, then remember that with BMO, you'll have to pull them out once in a while even for a small transaction to avoid any inactivity fee
  3. I personally don't see the value in having two of that card. I would suggest that after you collect both welcome bonuses, to merge the credit limits of the two cards, and that gives you more available credit on your BMO MC
I didn't know it was possible to merge the credit limits of the two cards but I'm not sure if I can with BMO? I was thinking about keeping both of them and maybe close one of them after getting the welcome bonuses but I'm not sure if that's a good idea..
Deal Expert
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May 8, 2009
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Going to the Moon
xuanmai99 wrote: I didn't know it was possible to merge the credit limits of the two cards but I'm not sure if I can with BMO? I was thinking about keeping both of them and maybe close one of them after getting the welcome bonuses but I'm not sure if that's a good idea..
Yes, merge CL after getting WB's. BMO would be highly incompetent if they don't allow CL merge. I lack the first-hand experience but couldn't be bothered.
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Deal Addict
May 15, 2013
2048 posts
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Alberta
I am almost sure that for the Bank every CC is in a different file, like there are 2 different customers.
Check out the spelling of your names in the CC, maybe the names are alltogether or in a different order.
Newbie
Feb 19, 2019
5 posts
I checked on my bank account and I have 2 credits cards in my name.
Deal Expert
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May 8, 2009
15560 posts
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Going to the Moon
xuanmai99 wrote: Thank you everyone for your answers!
Thread title marked as solved.
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