09-29-2010 01:47 PM - edited 09-29-2010 01:51 PM
Just got the good news and received an approval for 10K from USA Fed!
I asked for 20K but the loan officer counter-offered with 10K.
I'll certainly take 10K.
Funny thing is, they said I didn't get 20K because of "escalating" debt. Huh? My utilization is 14% at the time of approval. Not sure what they mean by that?
09-29-2010 03:21 PM - edited 09-29-2010 11:36 PM
The term 'Escalating debt' is similar to 'Pyramiding', IIRC.
Congrats on the approval.