Credit Cards

Double Dipping Credit Cards: How and Why

Why You Should Do This

Double dipping is the act of applying for two credit cards in the same day. This should be done to combine hard pulls when possible, or to circumvent bank rules. In my previous post you can find information about what rules I am talking about. If you are planning on hitting Chase hard, this will be the only way for you to successfully get both the Southwest Companion Pass and the CSR/CSP.

There are many reasons why you would want both the CSR and the CSP. I broke down the benefits vs. the annual fee for the CSR in a previous post. Check it out if you want to see why this high AF card is a good deal. As for the Sapphire Preferred, with such a low annual fee and a ton of benefits, it is easy to rationalize getting this one. Another great point when it comes to the CSP is that it is a solid entry level travel card. It is also pretty easy to get a referral from a friend or family member because of the 0$ introductory annual fee.

The total amount of points for getting both the CSR and CSP will be 105k UR not including spending bonuses. That comes from the 50k UR +5k UR Authorized User bonus for the CSP and the 50k UR bonus for the CSR. With that amount, you can get some pretty solid deals. Check out my previous post on how to use Chase Ultimate Rewards if you are still unsure about why I consider these points so great.

The Southwest Cards and Moving Forward

If you are interested in getting two Southwest cards, at the all time highs that would mean a total sign up bonus of 120k Rapid Rewards Miles. That amount of miles would be enough to get the Companion Pass. I will write up a detailed report on why the Companion Pass is great in another post, but if you want to see an example of it in action, be sure to check out my Trip Report from April. I was able to use my Companion Pass to fly myself and my SO to Portland for minimal miles.

If you decide to follow through with this based on reading my little introduction to Double Dipping or checking out all of my previous posts in regards to bank rules and credit cards, then continue reading to see how exactly to get approved for two credit cards in one day! Otherwise, if you get cold feet and decide against double dipping, no worries. Just focus on applying for cards that you feel comfortable with. Any amount of points that you wouldn't have had before getting into this hobby is a net win in my opinion. Okay, enough blabbing from me, keep reading to see my process for double dipping credit cards!

The Preparation

If you have determined based on your 5/24 status and your travel goals that you would like to double dip, it is important to know exactly how to do so. Before you begin, you should plan for the following:

  1. You will need to do this on a weekday. Preferably in the morning
  2. Have either two browsers such as Google Chrome and Firefox, or use a regular tab and an incognito tab
  3. Be prepare to call the reconsideration line if you are not auto approved
  4. Have no applications at least within the last 30 days with Chase

If you are ready to go with all of the above, then you are prepared for double dipping two Chase credit cards. Let's get to it!

The Process

The first step in double dipping is knowing which credit cards you are interested in. For this example, I will be going through the motions of double dipping the CSR and CSP but the process is the same for other Chase cards as well.

Once you have your credit cards picked out, open the application page for one of them in a traditional tab and one of them in an incognito tab or separate browser. I typically like to use Firefox and Chrome but you can choose whatever works for you.

Once you do this, fill out the application for the card that you want the most. On the off chance that you are not approved for both, at least you can still get the one you wanted.

If you are auto approved, congrats! Now, you can wait a little bit for buffer time and then apply for the second card in that separate browser/incognito tab. If you are not auto approved, you will need to call the Chase reconsideration line at 1-888-270-2127. Their business hours are 9am-10pm M-F. This should be done as soon as possible and the reason I recommend applying on a weekday is so that it is easier to push your application through. Once you get your first credit card approved via reconsideration, you can go ahead and move on to your second card.

The Second Card

The process of applying for the second credit card is the same as applying for the first card, except that the application will be done in a separate browser or an incognito tab. This is done because the website cookies may mistake a second instance on the same browser as the same application and you may not be able to apply. If you are not auto approved, go ahead and call recon to push it through. Typically reconsideration has to do with address verification or moving credit over from different cards if you are nearing your ceiling of extendable credit with Chase.

The Wrap Up

As I briefly touched on before, double dipping can save you a hard pull and in certain situations, that can be a game changer. Typically, whenever you apply for a credit you get a hard pull on your credit report unless you are pre-approved. This hard pull stays on your report for 2 years and dings you about 10 points immediately. The points will recover after a few months but the hard pull stays on your report. Some banks may question if you have a large amount of hard pulls so limiting them is always for the best.

You should be easily approved for both cards if:

  1. You have a decent credit score (Check here)
  2. You are low on the 5/24 counter
  3. You follow the guidelines set out above

Currently, it doesn't make sense to double dip the Southwest credit  cards just yet because the combined points from two of them are not enough for a companion pass. These cards raise and lower their sign up bonuses throughout the year so I would recommend holding out for a better offer before applying. Keep an eye out for my upcoming post about the Companion Pass and all the benefits it holds!

Thanks for taking the time to read this! If you have any questions please let me know. Don't forget that all of these recommendations are based off of both personal and crowd sourced results. Best of luck to all of you in your credit card endeavors!

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