Million Mile Secrets reader, Allen, tweeted:
Which banks let you earn the sign-up bonus on the same card more than once?
Excellent question, Allen!
I understand why folks might want to reapply for a card they have had previously. Because earning a new card sign-up bonus is the easiest way to get Big Travel with Small Money!
Each bank has different rules when it comes to earning a sign-up bonus on the same card more than once.
Earning a Sign-Up Bonus on Certain Cards for the 2nd Time Could Get You Enough Miles or Points for a Trip to Europe!
I’ll share the rules for getting a sign-up bonus more than once. And let you know when there are exceptions!
Earn a Sign-Up Bonus More Than Once
Link: Hot Deals
1. American Express
You can only get the bonus for a particular AMEX personal or small business card ONCE per lifetime!
So if you’re considering getting an AMEX card, you’ll only want to apply for cards with the highest sign-up bonus. Like the current best ever 35,000 point offer on the Starwood Preferred Guest® Credit Card from American Express and Starwood Preferred Guest® Business Credit Card from American Express, available through April 5, 2017.
Wait! Make Sure the AMEX Card You Apply for Has a Large Sign-Up Bonus Because You Can Only Earn It Once per Lifetime
For example, the current public offer for The Platinum Card® from American Express is 40,000 AMEX Membership Rewards points after spending $3,000 on purchases in the first 3 months of account opening.
But it’s not uncommon to hear folks receive targeted offers for up to 100,000 AMEX Membership Rewards points on the same card.
Keep in mind AMEX personal and small business cards are considered different card products. So if you have the personal AMEX Platinum, you’re still eligible to apply and earn the sign-up bonus on The Business Platinum® Card from American Express OPEN.
2. Bank of America
Link: New Bank of America Rules – 90 Day Wait to Apply for Same Card Product
You can apply for Bank of America cards more than once and get the bonus. But you won’t be approved for more than 1 card every 90 days.
For example, you can apply for the Bank of America Alaska Airlines card, which has a 30,000 mile sign-up bonus after meeting spending requirements.
It’s Possible to Get a Sign-Up Bonus From the Bank of America Alaska Airlines Card 4X a Year as Long as You Wait 90 Days Between Applications
Then, wait 90 days an apply for the card again and you’ll be eligible to earn the sign-up bonus. If you apply before the 90 days, your application will be automatically rejected.
3. Barclaycard
Barclaycard allows folks to get the sign-up bonus on their cards more than once. But you should wait at least 6 months between applications.
Because Barclaycard is very strict about the number of credit cards you can apply for. Most folks can only get approved for 1 to 2 cards per year!
So if you’ve earned the Barclaycard Arrival Plus card in the past, you’re eligible to to get the sign-up bonus again.
Use Your Arrival Miles From the Barclaycard Arrival Plus Toward Airbnb Stays
Keep in mind, to earn the sign-up with the same Barclaycard card more than once, you’ll need to close the old card and reapply. Downgrading your old card and reapplying will NOT work!
4. Chase
You can earn a sign-up bonus on the same Chase card more than once. But you have to wait and can NOT have the same card open when you reapply.
The terms and conditions for sign-up bonuses on most Chase cards state:
This product is not available to either (i) current cardmembers of this credit card, or (ii) previous cardmembers of this credit card who received a new cardmember bonus for this credit card within the last 24 months.
So you can cancel or downgrade a Chase card. Then, reapply for the same card 24 months after earning the last sign-up bonus.
This is good news for folks who collect valuable Chase Ultimate Rewards points from cards like the Chase Sapphire Preferred.
Chase Ultimate Rewards Points Are My Favorite Flexible Points! You Can Transfer Points to Terrific Airline Partners for Travel to Destinations Like Greece!
But remember if you’ve opened 5 or more credit card accounts (from any bank) in the past 24 months (excluding certain business cards), it’s unlikely Chase will approve you for most cards, including the Chase Freedom or Chase Sapphire Preferred.
There are few exceptions to the approval rules, like if you’re pre-approved for a card in-branch. And these cards.
5. Citi
It’s difficult to earn sign-up bonuses on the same Citi cards because the bank restricts sign-up bonuses to once per “brand” every 24 months.
For example, the offer language on Citi ThankYou cards like the Citi ThankYou Premier card say:
Bonus ThankYou points are not available if you have had ThankYou Preferred, ThankYou Premier or Citi Prestige cards opened or closed in the past 24 months.
So if you’re looking to earn the sign-up bonus on the same Citi card, you’d have to close the card and wait 24 months before reapplying.
Have 24 Months Passed Since You Closed a Citi Card? If So, You’re Eligible to Get the Sign-Up Bonus on the Same Card Again
Or you could keep the card open for 24 months and apply for a different card within the brand.
For example, keep the Citi ThankYou Premier card open for 24 months and then apply for the Citi Prestige to earn the sign-up bonus. After, you could cancel the ThankYou Premier card and wait 24 months to reapply.
Citi brands include:
- American Airlines
- Citi ThankYou points
- Hilton
An exception to the rule is if you find an application without the restrictive language. For example, I wrote about a Citi American Airlines card with a 50,000-mile sign-up bonus, which did NOT include the 24-month restriction.
Team member Harlan applied for this card and earned the sign-up bonus even though he had the card less than 24 months ago!
6. Discover
Discover does NOT have restrictions on earning sign-up bonuses on the same card more than once.
But the bank will only approve folks for 1 card within a 12-month period.
And it’s possible to have 2 of the same Discover cards.
You Can Have 2 Discover it Cards, Which Means You Can Qualify to Match the Cash Back You Earn the First Year You Have Both Cards
7. US Bank
You can earn a sign-up bonus on a US Bank card more than once. But US Bank is known to have strict rules for approving new credit card applications.
Even folks with excellent credit scores get denied if they’ve had too many recent credit inquiries.
This means you might be better off hanging on to the cards you have, instead of trying to apply for a 2nd time.
Bottom Line
Depending on the bank, it’s possible to earn the sign-up bonus for certain credit cards more than once.
But some banks, like American Express, will only let you get a bonus ONCE per lifetime for their personal and business cards.
Other banks like Citi let you earn the sign-up bonus more than once, but their rules are very restrictive.
Have you earned a sign-up bonus on the same card more than once?
