Should I apply for 2 loans at the same time, or a bad idea re credit checks?

[paulapantsdown]

We are applying for an unsecured loan of 16k to pay back our credit card and HMRC debt thats hanging over our heads for the last year, stopping us from moving on with our life and our business.

The best rates today are Sainsurys and tescos, and the Sainsburys application has been 'accepted on principle'. Would it be a bad idea to make another application to another lender tonight or will it look bad re credit ref agencies?

If they have the best rate, why do you want to apply for another one? If you have excellent credit, and could afford both loans (although I understand you won't be taking them both but if you were accepted then you potentially could) then it would probably still be accepted.

no sorry - did not explain myself properly. I just am worried that 1st one won't be accepted, so was thinking applying for the 2nd at the same time incase. I think we will just wait anyway as will have a desicion in a day or two now. thanks for replying.