How Many Payday Loans Can You Have at Once?
| Set by | State law, plus lender policy |
|---|---|
| Common limits | One loan at a time; total-dollar caps; annual loan caps |
| How it's enforced | Statewide databases in some states |
| Cooling-off periods | Required in some states between loans |
| Need more than one loan covers? | A personal or installment loan of $100–$5,000 through our network |
The answer depends on where you live
For most borrowers there is no single federal limit on payday loans. States decide, and their rules fall into a few patterns:
| Type of rule | What it means for you |
|---|---|
| One loan at a time | You repay your current payday loan before any licensed lender in the state can make you another |
| Total-dollar cap | You can have more than one loan, but the combined balance can't exceed a set amount |
| Cap tied to income | Total payday debt can't exceed a share of your gross monthly income |
| Annual or per-period limit | You can take a set number of loans in a 12-month or shorter period |
| Cooling-off period | After paying off a loan, or after several in a row, you wait before borrowing again |
| Rollover limits | Limits how many times one loan can be extended |
| Not allowed | Payday loans can't be made in the state; personal and installment loans usually still can |
Many states combine several of these. Look up your state on payday loan laws by state or the state law lookup.
How states keep track: payday databases
A number of states run or contract for a statewide payday loan database. Before making a loan, a licensed lender enters your information and the system checks whether the new loan fits the state's rules: number of open loans, total balance, and any waiting period. If it fits, the lender can proceed; if not, it has to wait until your current loan is recorded as paid.
For you, that means your application is checked quickly and consistently, and once your previous loan is paid off and recorded, you can generally apply again (after any required waiting period).
Lender limits and online loans
Even where state law allows several loans, most individual lenders allow one open loan with them at a time. Many also check specialty consumer reporting companies that track small-dollar loans across lenders, and they can see other loan payments in your bank statements. So if you already have open payday loans, a new lender may offer a smaller amount or ask you to pay down existing loans first.
Online lenders licensed in your state follow the same limits as storefronts and, where required, check the same database. The lenders in our network serve borrowers according to the rules of the state where you live, so the offers you see are designed to fit those rules. If you're unsure who you're dealing with, read our tribal loans guide.
How the limits play out: three examples
These illustrate the rule types above, not any specific state's law.
One-at-a-time state. You have a $300 payday loan due Friday. On Wednesday you apply for $200 elsewhere. The lender checks the database, sees your open loan, and can't make the second loan until the first is repaid and recorded. If your state has a waiting period, that applies too.
Total-debt cap state. Your state caps total payday debt at a set amount. If you already owe close to it, a second lender can approve you only for the difference.
Income-based cap state. Your total payday debt can't exceed a share of your gross monthly income. Higher documented income can mean a higher limit, which is one reason to list all your income on your application.
Plan the payments, not just the loans
Each payday loan is repaid in a single payment, so two loans means two payments, often on the same payday. Here is what two $400 loans at $15 per $100 look like:
| Loan A | Loan B | Total | |
|---|---|---|---|
| Borrowed | $400 | $400 | $800 |
| Fee | $60 | $60 | $120 |
| Due on payday | $460 | $460 | $920 |
Before adding a second loan, check that your next paycheck covers the total due plus your regular bills. If you need $800 or more, a single installment loan may fit better: one loan, spread over several smaller payments. Use the payday loan calculator to see the fee and total to repay for your state.
How much will I repay?
Estimate only. Your lender shows your exact cost before you sign.
What you need to apply
Whether you're applying for your first payday loan or a larger installment loan, lenders generally ask for the same things:
- A government-issued photo ID and proof you're at least 18 (19 in some states)
- Proof of regular income, such as pay stubs, benefit statements or direct deposits
- An active checking account in your name
- A working phone number, email and home address
It also helps to know the balance and due date of any loan you already have, since lenders in database states will see it anyway. Listing all your income sources, including part-time work or benefits, gives lenders the clearest picture. See the full list on payday loan requirements.
Need more than one payday loan allows?
If your state's limit or a lender's policy caps you at one smaller loan, you have a straightforward option: request a personal loan or installment loan instead. Through our network you can request $100 to $5,000, depending on your state and the lender, and repay it over several months instead of on your next payday.
- One secure form, about 3 minutes
- Decisions often in minutes; funds often the next business day
- All credit types considered; many lenders focus on income
- Free to use, with no obligation to accept an offer
Approval isn't guaranteed, and your lender shows the exact terms before you sign. See if you qualify.
Already have several payday loans?
- List each loan, its payoff amount and due date.
- Ask each lender whether it offers an extended payment plan; some states require lenders to offer one if you ask in time.
- Consider rolling the balances into one personal installment loan with a single monthly payment.
Our step-by-step guide: how to get out of payday loans.
Military borrowers
Active-duty servicemembers and covered dependents have extra protections under the federal Military Lending Act, which limits the cost of covered credit, including payday loans. Because of that, some payday lenders don't lend to covered borrowers. Personal and installment loans may still be available from lenders that comply with the law.
Frequently asked questions
Can you have two payday loans at once?
In some states yes, in others no. Several states allow only one payday loan at a time and use a statewide database to check; others allow multiple loans up to a total-dollar or income-based cap. Even where it's legal, most lenders allow one open loan with them. If you need more, a single personal or installment loan may cover it.
How many payday loans can you have in a year?
Some states cap the number of payday loans in a 12-month period or require a waiting period after a series of loans; many states have no annual cap. Check your state's rules on our payday loan laws by state page. Personal and installment loans generally aren't subject to payday loan counts.
Do payday lenders know if you have other loans?
Often yes. Licensed lenders in states with a payday database must check it, many lenders check specialty consumer reporting companies that track small-dollar loans, and they may see loan payments in your bank statements. Being upfront about existing loans on your application helps lenders make an offer that fits.
What is a cooling-off period for payday loans?
It's a required waiting period between payday loans set by some states. It may apply after you repay a loan or after a certain number of loans in a row. During it, licensed lenders in that state can't make a new payday loan, though you may still be able to apply for a personal or installment loan. The length varies by state.
Can I get a bigger loan instead of two payday loans?
Often, yes. Personal and installment loans through our network range from $100 to $5,000, depending on your state and the lender, and are repaid over several payments. Lenders look at your income and bank account to set the amount. The form takes about 3 minutes and you're not obligated to accept an offer.