It won't hurt you to apply for another card within the same bank, it just won't benefit you that much. Since it's within the same branch, your limit on that card will probably be the same, if they issue you a second card at all, and at most it will raise your credit score insignificantly. Do you have a car, a cell phone, cable, rent, or and recurring monthly payment? All of these items are necessities, and paying the bills on time will do you a great deal of good in raising your credit score. Your credit score is not fully reliant on the cards you hold. If you're still planning on getting a second credit card, I would apply for a card from another bank. One small side note. Spending 500/month or 20/month on your credit card has the SAME effect on your credit. My suggestion is to keep yourself on a cash-only basis for most items, and charge the necessities and pay them off fully on a monthly basis. Also do this by having a line-item budget. I can assist with that as well if necessary. Good luck, Eric

"Due to the economic conditions" a lot of banks are changing business strategies and tightening up the way they loan out money. Some have a policy that if you already have a credit card with them, you are not eligible for another one. You may want to find out if Chase has a policy like this before you apply for another account with them and put an inquiry on your credit bureau file.

It could hurt your credit rating. How many times have you applied for credit in the last year? If you apply often, it makes you look desperate. Even worse is applying for credit and being denied repeatedly.

Let's put it this way, it won't hurt you if:
1.) They accept you.
2.) This is only the 2nd time you've applied for credit/increased credit this year.
3.) You aren't over extended yourself with available credit.
4.) You don't instantly max out your card.

It will help your credit if:
1.) Getting a 2nd credit card shows that you have used less than 50% of your available credit.
2.) You pay it on time.
3.) You're accepted and you're not over extending yourself.

Bottom line is, applying for credit, or credit increases within a short time frame can damage your credit. Being denied repeatedly can also damage your credit.