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Credit union loan

I’ve had 3 loans of credit union and each time I’ve asked for more they have game me two the same amount of £500 then my last one £1000 I’ve just paid it back and I have £1500 in my loan pledge they said my next loan will be a loyalty loan which means what ever is in my loan pledge I can get a loan x4 of the amount in my loan pledge so that equals £6000 what’s the chances of me actually getting that amount every loan I have had as been paid of before the agreement and I’ve never missed any payments I’m just looking for some advice and if anyone has had these type of loans before 

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 21 May 2021 at 9:43PM
    It depends on their criteria.

    But try to cut down on your borrowing by building up some savings. It'll make you far richer.
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