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hey guys it's a bastion from ask stubby and today we are going to talk about what cards you can have multiple of what cards I have multiple of and the general policies around all of this before we dive into it give this video but thumbs up lets me know that you like stuff like this and also if it is a bit echoey i wanted to apologize the room that we got upgraded into this over water room is interestingly shaped so noise travels weirdly one final side note is if you want to see our vacation if you want to see what we're up to go follow our instagram ask Sebby and we have a bunch of stories over there well that out of the way let's dive into it the reason i wanted to talk about this is because often times when i talked about having multiples of the same card people generally get very confused because it's not something that people generally think about and it's just something that you don't get told that you can do for a lot of people they generally don't have much information or knowledge about credit cards and what they end up hearing is typically from parents or other friends that might not be as informed as well so it's a lot of rumors and things being passed around with most of the major issuers you are going to be allowed to have multiples of the same card the issue is going to be how you get these cards so for some of them if you have that card you cannot apply for another version of that card it will automatically get rejected because that's part of their algorithm and it just won't be approved or they won't even look at it there are going to be some exceptions to this so discover is a pretty good one where you can have multiple discover eight cards and they don't really seem to care as long as you've spaced them out and as long as we follow Discover's rules which tend to be about twelve months give or take you should be fine with other issuers like Bank of America it gets a bit interesting too because for some of their cards they don't really seem to mind if you have multiple of them but for other ones like the Alaska card given the ruling good sign of bonus they have a lot more stringent rules part of that too is because what the Alaska business card or the personal card it gets you pretty close to a one-way business class flight on something like half a Pacific which would run you substantially more if you were paying cash but other issuers like American Express you can apply for multiple of the same but you typically don't get that intro bonus again the rationale is that the card makes sense for you and it ends up being a keeper card in some cases you do need to put enough time between those two applications otherwise the system will read it as a duplicates one reminder is that these rules can change at any points that can change tomorrow they can change at one week so I wouldn't really focus on that too much what I would end up focusing more on is the fact that look most of these issuers and if not all of them you can typically product change your cards into a second version of that card so if you already have let's say the Hilton aspire card you can typically upgrade the Hilton no annual fee card to a second aspire card as a reminder if you product change cards you do not get an intro bonus because you didn't sign up for it so if you product change from the freedom card to the Chase Sapphire Preferred you don't get the Chase Sapphire Preferred intro bonus just by upgrading this might change in the future but as of 2019 and as I expect to stay the same for 2020 I don't really see them giving you upgrade offers with Chase they sometimes do it if they are trying to get you out of a card that is grandfathered but really not the case otherwise American Express sometimes does have upgrade offers but it gets a bit more complicated there with the strategy that you may want to take so if you haven't had that card before that they are offering you an upgrade to then I generally don't recommend upgrading because you lose out on that intro bonus just by you doing a product change or upgrade or whatever you want to call it you don't get a bonus unless it specifically says so so the big obvious question is why would anyone do this why would you want to have multiple of the same card that doesn't really make any sense especially when you factor in that some of these cards have annual fees so I think it falls into two different zones the first zone is going to be cards that don't have annual fees of where you spend a lot of money on those categories where it makes mathematical sense number two on the flip side is cards that you get value from typically by paying an annual fee without having to spend a ton of money so it's not really contingent on your spends well do the first group first because I think it makes a lot more sense and I think it's easier to understand and I also talked about some cards I have that fall into this category so freedom cards discover eight cards and any five percent back cards are the most easiest way to understand this because a lot of them have caps so for example for someone who is going to shop a lot at those categories for whatever specific card you have you might go beyond I cap so in that case it might make sense to have a second Discover card a second freedom card or whatever else running into a more specific example let's say you are someone who buys a lot of office equipment because you are the office manager at a start-up and will something let the chase in cash card yes you do get 5x back but there is a cap so how do you maximize value when there's a cap you either downgrade cards or product change cards in order to get a higher threshold the funny thing too is that often times for these people it's been that they are doing where they get reimbursed for it's for me I have to discover eight cards because it just makes sense even if I'm not maximizing every quarter the alternative is having a discover it miles card which doesn't really add any value at least with the 5x back with the it's card there is some value rather than nothing freedom card is another good example here where I end up having 5x Pat categories and the benefit of Chase is that you can oftentimes try to change between the freedom and the CFU freedom unlimited if you get more value from that and their ecosystem is really accommodating for these product changes the final card I have multiples of I'm not going to talk about for too long because you can't apply for it anymore but I think it's a very good example of why you might want to double down when the card is good this is going to be the better balance rewards card by Bank of America where you end up getting $30.00 per quarter per card every time you use it for a three-month period and you pay off the card in fall so this is something most of us do anyways so about a hundred and twenty dollars per card that you have right now I have four of these cards I used to have more of them but Bank of America closed some of them when they enacted some new rules about having four cards in a 24 month period but it's a pretty good card I'm getting value every year just by having that automated Amazon reload within this first category there obviously are going to be some cards that have annual fees that also fall into this so for someone who does a lot of grocery store spends you have multiple gold cards because it makes sense because they're hitting that cap anyways same thing with something like the blue cash preferred card which has a cap but if you're getting value you're going to come out ahead for this channel and for most other things I do in life the goal is to run the numbers to think about it intelligently and to make sure that you're actually getting value I'm not going to go to a buffet if I'm not hungry I read the meet up of people afterwards for drinks because it's not really optimal before we dive into the second group of cards if you are someone that wants to learn about any cards from pretty much any issuer and you want to support our channel we do have links that are on our website ask savvy comm as well as down below in the description box diving into the second group for me this is going to be cards that have annual fees but you derived most of the value just by paying that off so you don't need to spend a lot of money on the card in order to get value the easiest example of this to me at least is going to be hotel keeper cards where you end up getting that anniversary night by virtue of paying that annual fee in the long term so you're getting this night every year by paying something like a ninety five dollar annual fee for most of these cards if you're someone that does even one or two trips a year you're probably going to be able to redeem that night at a hotel that cost more than ninety five dollars oftentimes I look for about two hundred or three hundred dollars so there's a lot of value there another way to think of it is that you're using this annual fee to buy the certificate that you're redeeming for more value obviously if you're someone that doesn't travel if you don't care about that hotel brand for someone who doesn't like hotels if you only do Airbnb s then this isn't going to be helpful for me personally I'd happily have multiple Hyatt cards or multiple ihe cards because based off my travel habits I'm getting valued there but for other people I do recognize that it might not be the case this is why I have multiple American Express Hilton aspire cards because it's a card that makes sense based off my travel habits and that certificate night itself is already worth the annual fee even if they got rid of that travel incidental credit and that Hilton credit as long as I stole called Diamond status and that weekend mate I'm actually a happy camper my Russian now is that I've been using that at places I run seven eight hundred two thousand dollars and it's places that I want to go anyways and if I didn't have this I would probably be paying that out-of-pocket and I wouldn't be able to spend as much time there just because I have that money do I really want to spend it like that when there are ways that I can spend maybe ten cents on the dollar for that same exact experience that requires maybe a bit more legwork but for me it's worth it especially when you can do that legwork just while watching YouTube or watching Netflix instead of reading Facebook or basketball stats or scores this is what I've been doing instead right now I have to Hilton aspire cards in the long term I'm looking to have three of those and then two of the mariette brilliance cards in case you're wondering there aren't really that many airline cards that fall into this just because of the benefits and how the airline cards work the only one that I can really think of on the spot is going to be the Southwest priority card by Chase just because of the credits are getting as well as the points are getting by keeping that card so it might be a slight moneymaker but it's substantially smaller for a lot of the other airline cards the value tends to be based off the flights you take and whether you check bags and how you care about priority boarding so pretty much based off your spend and number of flights more than just getting value on the spots if all of that said my question for you guys is what cards do you have multiples of and which ones would you consider having multiples of in the long term I'm expecting a lot of freedoms and discover eight cards but let me know in the comments down below if you have any questions that weren't answered in the video that relate to the topic that we talked about I typically try to answer them if I have time I might also do an FAQ blog post thing if there's a lot of questions just so I don't need to keep copy pasting the same thing to 2030 people as a reminder if you want to learn about any cards we have links on our website asks a be calm and also down below in the description box in that little link area if you like this video give it a thumbs up it really helps us out if you know anyone else who'd benefit for what we just talked about feel free to share this with them I'll probably help them out but otherwise hope you guys liked it see you guys next time so you don't want to go snorkeling but it's fun when it's raining it'll be fun you have a life jacket on the odds of you drowning willful life jacket on are so low just because we're sharks it's fine test test test test coffee time of Sebby 1 2 3 kind of an echo but 1 2 3 4 5 hey hey hey hey hey hey bit Kinect hey hey hey hello hello hello hello hallo hallo hallo hallo hallo hey guys it Sebastian from ass