August 21, 2024
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2 min read
As an authorized user, can I open separate accounts for the same card?
Editor’s Note
This is a recurring post, regularly updated with new information.
After becoming a authorized user on a credit card account, you may be wondering about one of your own. Perhaps you want to apply for a card for welcome suggestionsor so you can earn your own airline miles and/or improve your credit score.
The good news is that you don’t need to close an authorized user card to open a separate account for the same credit card.
Here’s what you need to know.
Get a card that you are already an authorized user of
There is generally no rule that prevents someone from using the same card they are already an authorized user of. In fact, it would not hurt to keep the current account. After all, it can affect your credit score if you close the first account. Also, for cards with no annual fees, it won’t cost you anything to keep the other account.
Having your own account also has some benefits. You can get welcome suggestions and enjoy all the benefits that particular card offers (not just the benefits for “authorized users”).
Another thing to consider is Chase’s 5/24 RuleThis prevents Chase card applicants from being approved if they have opened five or more cards in the past 24 months. So it would be wise to apply for any Chase Card you have kept an eye out before applying for cards from other issuers.
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The last line
In short, having your own credit card is a good idea — even if you’re an authorized user on someone else’s account. And you can still be on their account while you’re at it.
Keep in mind that you may have to pay an annual fee for the new card. Also, you may want to avoid getting the same card. That way, you can receive additional benefits, no duplicates, things already in your wallet.
Related: Does adding authorized users affect my credit score?
Featured image of PEKIC/GETTY IMAGES
Editorial Disclaimer: The opinions expressed here are solely those of the author, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
