Most banks or institutions, as well as online loans, have many credit loan products, but multiple applications will damage personal credit records. It is suggested that the number of applications should not exceed three in the last two months and five in the last six months. Otherwise, it will be difficult to apply for other loans in the future.
According to whether the institution has guarantee requirements for loans, it can be divided into credit loans and secured loans. Credit loan refers to a loan obtained on the basis of the borrower's credit or the guarantor's credit. A secured loan refers to a loan obtained by a borrower or a third party providing a guarantee according to law. Secured loans include secured loans, mortgage loans and pledged loans.