Posted by Chuck on February 20, 2015
Credit Cards

Published on February 20th, 2015 | by Chuck

66

How Many Discover Cards Can You Have?

Update: Here is the official response from Discover:

A cardmember can be the primary cardholder on two Discover accounts, and can only be considered for a second account once they have had the first account for at least a year (Mod edit: based on twelve billing cycles according to reader Randy)

Two Discover Cards

With the launch of the new Dicover IT Miles card, many people are wondering: how many Discover cards can someone have? If you have the Discover IT Cash Back card, can you get the new Miles card as well?

I called Discover twice and both representatives said the exact same reply: you can have more than one Discover card, but only if it’s been 12 months from when you got the previous card. Thus, anyone who only recently got the Discover Cash Back card will not be able to get approved for the new Discover Miles card.

Similarly, someone who doesn’t yet have either Discover card will now have to choose which card they want to get; they couldn’t just apply for both. For this reason it’s important to weigh various factors such as the signup bonus and category bonus that Discover Cash Back comes with, versus the higher rate of rewards on ordinary purchases that Discover Miles comes with. We wrote a full analysis on this earlier today, see Discover it Vs Discover it Miles – Which Card Makes More Sense?

[Read: Discover it Miles Full Review]

Recent Reports

Here are two reports regarding the new Discover Miles card.

  • One Flyertalk member applied online and the system told him to call in. Seems that those who have an existing Discover account will automatically be prompted to call in and verify if they want to open a second account or if they want to close the old one and open the new one. We’ll have to wait and see more reports on whether everyone has this experience or if it was an isolated experience. (I’m putting my money on this being the case for everyone.)
  • Two reports indicate that Discover is not yet allowing doing a product change from the Cash Back card to the miles card (1, 2). [We’re not discussing the wisdom of doing such a product change, just whether it’s possible.] You need to apply for a new account, at which time they may ask you if you want to close down the old account or just open a second one. But there’s currently no way to save the hard-pull on your credit by doing a product change.

Same-Card Multiples

On my second phone call to Discover,  I asked them a different question: can I have two of the same version of a Discover card? I made it very clear that I wanted to know if I could have, for example, two Discover Cash Back cards. The representative replied, “sure, so long as your previous card is more than one year old, you can apply for a second card”.

Just to be sure, I called Discover again. This time I didn’t ask about the Miles card at all, I just said that I’m a Discover Cash Back card member and I want a second card to separate certain expenses. The representative said the exact same reply that so long as your previous card is one year old it’s no problem at all.

This is a big news for a few reasons. First, the Discover Cash Back card comes with a signup bonus, sometimes as high as $150. Based on this, we may be able to get that bonus more than once, even without cancelling the first card. Now, it’s possible that they won’t give the signup bonus more than once (see List of Churnable Credit Cards), but I’d give it a decent chance that they don’t have such a thing coded, since not many people apply for multiples of Discover cards.

Second, this means that we can double our Discover quarterly category capacity by having two cards. Again, we can only get one card per year, so if you’ll apply soon for the Miles card, you won’t be able to get the second Cash Back card for another year.

Third, let’s see how this can affect the new Miles card. As we know, the Miles card earns the equivalent of 3% back, but only for the first year. Now, we don’t know yet if this year is ‘churnable’ – if we cancel the card after one year and apply later for another one, will we get the 3x again for another year. Again, I’m optimistic that this is churnable but I obviously don’t know. If it is churnable, then we wouldn’t even have to cancel the card and re-apply. Instead, we could just apply for a second card after a year.

The major problem here is that it will take a full year to verify whether your card is earning 3x or not – since the extra rewards only come at years end – and it’s impossible for us to have any data points for two full years from now. (I’ll have to mark down on my calendar to check Flyertalk in February 2017 to see if there’s any reports on this.) But even if we would get a positive report from Discover themselves, it would be hard to justify putting real spend on the card for an entire year, based on faith in the system that the 3x bonus is churnable.

Additionally I’ll note that – as mentioned – it sounds like Discover won’t issue an instant approval for existing cardholders, you’ll likely have to call in and get manually approved. They may even ask you to explain why you want two of the same card. It shouldn’t be a big deal, but the fact that it’s not instant makes it less appealing.

In any case, I think this news opens up a new front of possibilities, especially in regard to the Cash Back card category bonus; the main question being how Discover will react to attempts at numerous cards.

Conclusion

To recap:

  • You can have more than one Discover card, but when you apply you probably won’t get an instant approval.
  • You can not apply for a second Discover card within one year of getting the first card.
  • You can not yet product change a Discover Cash Back card into a Discover Miles card. [This will likely be available in the future, but we don’t know if the 3x rewards benefit will apply.]
  • You can apply for more than one of the same product, so long as a year has passed.
  • We don’t know if the signup bonus or the rewards bonus is ‘churnable’ and will apply the second time you get the same card product.

I had been considering applying for a second Discover card for some time now. Since Discover pulled Transunion for me when I applied for my first Discover card, I figured it was worth the risk to see if I can get a second card. Now it’s clear that it is possible to have more than one, I just have to decide whether to go for the Miles card or a second Cash Back card. I’m leaning toward the Cash Back card in hopes of earning a second signup bonus, but only if the signup bonus goes back up to $150 some time soon.



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Jon
Jon

This could be a good ms card when combined with redbird. It offers 0.8% cashback higher than arrival plus or $40 a month per redbird.

Jonathan
Jonathan

There is at least 5 credit cards that provides 3% for grocery. Most of target are under grocery. The problem is how can I find another card that can charge more than 3% at Target?

Jennifer

If you shop at Target a lot, getting a Target credit card gives you 5% off at time of purchase, although I wouldn’t use the Target credit card anywhere else. It’s worth nothing that while the Chase Freedom also has grocery stores as one of its rotating 5% categories, their list of grocery stores does not include Target.

univs
univs

An interesting series of posts! Now I’m wondering if I can product-change my two-year-old It card to the Chrome card and wait for the next $150 bonus for the It card and apply for it. Do you think they would consider the new Chrome card a two-year-old or a new account?

Michael B
Michael B

My plan, if I do end up getting this card eventually, would be to get the new Miles card and hit it really hard for 12 months. Then, after the 2x bonus ends and the Miles card loses most of it’s appeal, convert it to a second IT card to double my 5% quarterly capacity – especially for the 4q online shopping

Yeshu
Yeshu

Hi Charles,

Thanks for your blog post, but it is widely known that you can have more than one Discover card. I have had two Discover IT cards for some time (spaced more than a year apart) and I recently maxed out the 1st quarter cashback on both of them…FTI, I got a sign-up bonus on my second one (wasn’t in the miles/points/sign-up bonus game when I applied for my first Discover card.

The more interesting question is whether I can get a 3rd Discover card (the Miles card), maybe a year from now and once the first year is up, whether it is possible to do product change to a Discover IT card…this way, I’ll have 3 cash-back cards and I can really maximize on the quarterly bonuses…

Eric
Eric

In December when I wanted to apply for the Discover It card I was told that I needed to close one of my 2 Discover More cards first. I am guessing that only 2 are still allowed since that was only 2 months ago.

Yeshu
Yeshu

Interesting datapoint..thanks for your reply..Guess I’ll be given the same answer if try to apply later this year

Victor
Victor

Eric,
I have a note from February 2014 from a discussion with a Discover CSR who saaid that you can have up to three Discover credit cards. I do not know jf that has changed to a two-cards-max or perhaps it was your credit history or application history with Discover that got them to tell you that you must close one of the two existing cards to get a new one. Some of my family members have two cards but none has tried for a third yet.

Eric
Eric

They specifically told me that only 2 Discover cards were allowed per person. If they now changed it to 3 it’s probably because of all of their new cards.

Victor
Victor

That’s interesting. It seems like your conversation was more recent than mine (Feb 2014) so yours is probably the correct one, unless they changed it again between December and now.

Longtao
Longtao

Do you happen to know if Discover debit card counts for one? I just got denied because of my number of accounts with discover. I have one discover it and one cash back debit card.

MS
MS

Just curious if there is a list of gas stations that sell $500 Visa or MC using credit cards, not cash. The 3 digit convenience store that used to sell them changed a while ago and requires cash. Want to max out my Discover IT cards this quarter.

Douglas
Douglas

I converted the More card to the It in August last year. I called to find out if I had to wait to apply for the miles card until August. The rep said I shouldn’t have to and that was verified after I applied. I was approved and also able to move credit from one card to the other.

William Charles

A product change like that doesn’t change the opening date, which is why you would have been able to apply for the Miles card. If you had directly applied for the it then you wouldn’t have been able to.

Victor
Victor

Congrats! One thing about moving credit limits between Discover cards is that if you ask them right when you open your new account they will gladly do it but if you skip and then you ask a few weeks down the road they will not so it and they will say you must wait for 90 days. Not sure if they will do a new inquiry at that point BT I didn’t try that after 90 days.

trackback

[…] able to get this deal again. Seems the deal is tied to the card number, not the account. Certainly, if you have two Discover cards you may be targeted to get this deal again. Many people got the Discover IT Miles card recently, […]

Parkerthon
Parkerthon

So I dug this post up because I have a discover More card that’s gathering dust. This post should be linked back to the double bonus if it’s not already. Sounds like it’s indeed possible to have to IT cards. I’m thinking of Chase where you can convert a Sapphire to Freedom even when you already have a Freedom, thereby allowing you to have more than one Freedom. Wondering if that’s same approach here for converting to an IT from Discover More(which I’ve had for many, many years) after I open the new IT. Also, does converting an account change account open date in credit report? My discover account is wicked old. I also vote they change the name of the IT card to… well… just about anything else. Way too cutesy.

William Charles

Yes you can have two Discover it’s, actually no need to be sneaky about it if you apply for a second Discover it card they will approve you.

Phong

So how do apply for a second card? Do you simply just go to the application page? Also, anyone know if there’s any top sign up bonuses/referral for this card? Or are there no sign up bonuses?

William Charles

Yes you just go to the application page, for Discover it best to get the $50 referral bonus which is also doubled so you get $100

Themanwhocan
Themanwhocan

So, can you refer yourself and get $50 on each account, which gets doubled on each account (assuming you have the double all cashback deal on your first card already?)

trackback

[…] Doctor of Credit found that a person can sign up for a second card, but only after they’ve had….  So, if you’ve already been a Discover It card member for a while, you could sign up now for the Discover It Miles card and have both cards. Or, you could sign up for a second Discover It card in order to expand your 5% category bonus limit from $1,500 to $3,000 per quarter. […]

fakewooder
fakewooder

Interesting data point here, just got off the phone with a Discover rep.

I deliberately waited till after my June statement to call in for the double cash back; after having read all the blogs about how easy it is for existing cardholders to sign up, I was quite surprised when the CSR told me that the offer is available for new accounts only, and politely but firmly refused to budge. Of course, a little Googling soon turned up the sad news that the offer for existing accounts was discontinued.

But the interesting thing is, that the helpful CSR actually advised me to apply for a new account. I mentioned that my current IT was opened within the last year, and she confirmed this. I asked her if she thought I could get approved for a new account, and she was pretty much “Sure, why not?”.

I wonder if I should try, or is it just a waste of a hard pull?

sara
sara

Waste of a hard pull in my case.
CSR said you can apply and I was NOT approved , reason being “previous application was approved less than 12 months ago.”
When I asked why I was told otherwise, they said they can’t give credit advice, they can’t telll you to apply or not to apply….

trackback

[…] up for a new Discover card and get the deal. Even if you already have one Discover cashback card, you can signup for a second one and take advantage of this […]

skydancer
skydancer

i have a 2 month old discover it card. i first tried to apply for a discover it miles card 25 days after my discover it application, and it went to pending. when i called in, i was told that i could had to wait at least 30 days to apply for a second discover card, and was encouraged to wait another 5 days.

i waiting a month, and then reapplied for the doscover it miles card, and was instantly denied because:

“TIME YOUR MOST RECENT DISCOVER CARD ACCOUNT HAS BEEN OPEN”

based on the denial statement, they also appear to have done a hard pull with BOTH experian & equifax 🙁 booo!!!

so my experience matches the above article, that you will get denied if you apply for a second discover card, with a new one..

trackback

[…] 参考资料:DoC1, DoC2, DoC3 […]

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