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If you have used your first credit card well, paid the bill on time, and are now thinking of getting a second card, then wait a bit. A hasty second application can hurt your credit health. When you apply for a new credit card, the bank checks your credit history. This is called a hard inquiry. This can cause a slight drop in your credit score. If you have recently applied for several cards in a row, the bank may suspect that you are in some financial trouble. This can also lead to the rejection of your application.

Credit experts believe that it is wise to wait for at least 3 to 6 months after the first card. During this time, you can build a good payment history on your first card, improve your score by using a lower credit limit, and show the bank that you are a responsible borrower. If you have paid your bills on time, have not spent too much, and have avoided default, then the bank can give you more benefits next time, like better rewards, a higher credit limit, or a lower interest rate.

Rules are not the same for everyone.
However, this 3 to 6-month rule does not apply to everyone. If your income has increased or your credit score has improved, then the bank may be ready to give you a second card soon. On the other hand, if your debt is more than your income (a high debt-to-income ratio), then even a long wait will not change anything. So first of all decide why you want to get a second card – to keep expenses separate, for rewards or because the limit of the old card seems low? The clearer the reason, the better the decision.

Some banks also have their own rules. Like Chase Bank's 5/24 policy – if you have taken more than 5 cards in 24 months, then they reject the new application.

Increase your chances of approval like this
– Check your credit score and report first
– Use less than 30% of your limit on your first card
– Keep paying your bills on time
– Do not apply for a new loan or other credit in the meantime

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