URGENT When shopping for a personal loan, why is it important to limit the amount of loan applications you submit?

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asked Dec 27, 2020 226k views

2 Answers

Lagina · Answer 1 · 2021-01-02T15:33:47+0000

Answer:

When shopping for a loan, do not submit too many applications. Each time you submit an application, the lender will do a hard inquiry on your credit score. Having too many hard inquiries at one time will negatively affect your credit and raise your interest rate.

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URGENT When shopping for a personal loan, why is it important to limit the amount of loan applications you submit?

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