[44loo]

I applied for a loan and got approved with no problems. The loan amount went into my bank and everything but after talking with a friend they pointed out I would have been better getting a bigger loan to pay off my car. I thought this would be a great idea so I phoned the credit provider to inquire. The told me I would have to cancel the existing loan and reapply for a new loan. They also said there would be no guarantee I would have the new loan approved. My credit rating is really good and I have never been turned down for anything before but it concerns me having two credit checks done in such a short space of time. I don't want to give the loan back if I can't get the new loan. Help please

[tickle]

Is the loan on your car a lower interest rate then the loan you just got approved for?

[Fr_Chuck]

So pay off the first loan and then ask for the new loan.

Seldom do we borrow our self back to good money judgement,

[44loo]

The car loan is a higher interest rate to the loan but what I'm wanting to do is consolidate with a second larger loan. My question is do you guys think I will get approved for the second loan. I have never been refused credit just a bit nervous because I heard having numerous credit checks done in a short time can effect your application

QUOTE by Fr_Chuck;
So pay off the first loan and then ask for the new loan.

Seldom do we borrow our self back to good money judgement,

That's what I'm thinking but a bit worried it won't get approved