Can you have more than one Visa card at a time?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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MicheJo
 
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Can you have more than one Visa card at a time?

Postby MicheJo » Mon Jul 09, 2012 1:17 pm

Hi, I've been thinking about switching from the credit card I got as an undergrad to a better visa with rewards/cashback and the like. However, I am a bit confused.

So Wells Fargo has crap for rewards, so I want to switch to a different Visa. Is this possible since they would both still be through Visa or will I have to close my Wells Fargo Visa and open a brand new Visa? I was looking at the Chase Freedom Visa card....


hematino
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Postby hematino » Tue Jul 10, 2012 2:32 am

Nope, you can have as many Visas as you can get approved for. Visa is just the payment network that your Wells Fargo card is processed through. Even though you don't like your reward system, you might want to think twice about closing out the card-- it will lower your average age of accounts, which will lower your credit score.

Chase Freedom is a great card with a solid rewards structure. Good luck if you decide to apply for it!
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MicheJo
 
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Postby MicheJo » Tue Jul 10, 2012 10:32 am

okay. so my next question is would it actually close my wells fargo visa? or just upgrade it to a chase visa? is that possible?

Money card
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Postby Money card » Tue Jul 10, 2012 9:10 pm

Hematino is 100% correct, Visa is just a processor. First started out by banks, some stores like LL bean, walmart and nordstom have visa cards. You can apply for whatever Visas you want, but they go on your credit report under the bank name or store name.

if you don't have another credit card and you close out your wells fargo, you are going to have a extremely difficult time getting a different card. please don't close out your card!

agp
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Postby agp » Wed Jul 11, 2012 7:48 am

Think of Visa as "pants," and different cards as different brands, like Gap, Polo, JCrew, Brooks Brothers, etc. If you have a pair of pants from Gap and you get another pair from Polo, your Gap pants aren't going to disappear or be upgraded. You would simply have 2 pairs of pants. Same with credit cards, your Wells Fargo card has nothing to do with whatever cards you want to open in the future.

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MemberSince99
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Postby MemberSince99 » Wed Jul 11, 2012 8:47 am

To answer your second question if you want a different Visa you would have to apply with say Chase and be approved with them - you can't go from Wells Fargo to Chase otherwise. They are different banks just like Ford and Chevy are different auto makers.

Like the others said you can apply but be sure you get the new card before you close your current one. Might not hurt to leave it open, just to help your credit score, and use it every few months for a minor purchase.

KingVicc
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Postby KingVicc » Thu Jul 19, 2012 1:46 am

MicheJo wrote:Hi, I've been thinking about switching from the credit card I got as an undergrad to a better visa with rewards/cashback and the like. However, I am a bit confused.

So Wells Fargo has crap for rewards, so I want to switch to a different Visa. Is this possible since they would both still be through Visa or will I have to close my Wells Fargo Visa and open a brand new Visa? I was looking at the Chase Freedom Visa card....


Don't close your Wells Fargo. It will keep your average age of credit higher (and higher = better chances of getting approved for future cards). Like others have mentioned, you can't upgrade it, but you can apply for it, and if you get approved you'll have two. Besides its good to have several credit lines open. I have a Wells Fargo Visa too and plan on applying for the freedom. Good luck!
[size=80]Wells Fargo Platinum Card (2010)
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