I already have one $7,000 Personal Loan which I borrowed online 3 months ago to pay for a car repair. But now I faced one more urgent bill I can handle. Could I apply for one more Personal Loan? Is there any limit on the number of this credit?
How many Personal Loans can I have at once?
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COMPACOM TEAM
Expert answer
Actually, the US laws and regulations don't put a lot of limits on Personal Loans. You can get as many as you need on condition that you are able to repay this debt. Lenders will approve you for another Personal Loan but they can limit the amount depending on your credit score and debt-to-income ratio. Find out if you qualify online. It's fast and doesn't affect your credit history.
Here is a list of Personal Loan direct lenders who could help you get the necessary funding as soon as possible:
LendYou will help you get the cash you need when you need it. You can apply for Payday Loans, Installment Loans or Personal Loans, etc. Compare the lenders and get matched with the best one.
- MIN Loan Amount: $100
- MAX Loan Amount: $35000
- Terms: Varied
- Rates and fees: Starting at 4.99% APR
- Turnaround Time: 1 business day
- $100 - $1000 Payday Loans
- $1000 - $5000 Installment Loans
- $5000 - $35000 Personal Loans
- 18 years of age or older
- U.S. citizenship
- Valid checking or savings account with direct deposit
- Minimum regular income of $1,000 per month
- Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps or Navy (or be a dependent of someone who is,) serving on active duty under a call or order that does not specify a period of 30 days or fewer.
- Pros
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- High up to $15,000 loan amounts.
- Minimal restrictions on how you can use your loan.
- No collateral or guarantor.
- Bad credit is OK.
- Cons
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- It's not a direct lender, so you'll need to clarify rates and terms with the company you are matched with.
Check Into Cash offers Payday Loans, Title Loans, Personal Installment Loans and other money products at affordable rates with convenient repayment.
- MIN Loan Amount: $50
- MAX Loan Amount: $3000
- Terms: Vary by state.
- Rates and fees: 261% to 782% APR
- Turnaround Time: 1 business day
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- Active checking account open for 90+ days
- US citizen or permanent resident
- Personal and work phone number
- Valid email address
- 21+ years old (19+ in Alabama)
- Social Security number (for Indiana residents only)
- Pros
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- You can get even as low as $50.
- Quick funding on the next business day.
- Money can be used for any personal needs.
- Cons
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- Not available in every state.
- APR can be more than 153.73% depending on your state.
- High late payment fees.
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