| If you apply for multiple personal loans or other types of credit in a short space of time, then this may affect your ability to be approved for a personal loan. If you are looking for a personal loan and decide to apply for numerous personal loans at once, this will affect your ability to be approved, as lenders will look at your credit file and see these repeat applications. Lenders see repeat applications as a consumer having an urgent need for credit, and this can act as a red flag leading to loan applications being declined. |
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