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Two loans

GatorGuy
Established Contributor

Two loans

I have been approved for a loan from USAA for $80k and am now trying to decide when would be the best time credit wise to apply for a second loan? Should I do it within the month or wait a couple months? I think the second loan would probably be for $50k so it would be less.

Message 1 of 3
2 REPLIES 2
sccredit
Valued Contributor

Re: Two loans

Before the first one reports, definitely not through the same company

Ch 7 Discharge 3/12/2018
Cap One VentureOne $3,500, CapOne Savor $5,300, Kohls $3,000, BBVA $2,500
Infiniti Financial Lease
Goal: New Mortgage 3/2022
Message 2 of 3
ds3
Regular Contributor

Re: Two loans

I waited 2 months to get a $48k loan after getting one for $32k...the first one had already reported. Both loans are through VW Credit, and I actually got a better rate on the second, higher loan as a loyalty discount.

 

If using different banks, then sooner is better, before the first one posts.

Message 3 of 3
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