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?
Congrats. You wouldve probably got near that 20K if you waited for the NFCU merger and applied with NFCU directly.
The term 'Escalating debt' is similar to 'Pyramiding', IIRC.
Congrats on the approval.