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beccarochelle99

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how many loans are too many?
If i plan to cosign for a new loan, and i already have a credit card, small peronal loan and a car loan, will cosigning a new one hurt my chances for more loans in the future?

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No, the number of accounts doesn't matter.  However, I tell everyone to never, ever co-sign a loan unless you are willing to take over the payments.  If the co-signer is late, your credit will be hurt.  If they default, then your credit is trashed and you are responsible for paying the loan.

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Addison170

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Let me add to that - this loan will impact your debt-to-income ratio, which doesn't affect your score, but may affect your ability to get another loan. 

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