When we bought our "brand new car" (that is what Evan insists on calling it) last month we did the financing through the dealer. They applied to several loans and finalized the one with the best rates. One of the places they applied to was Bank of America, which then turned us down despite our exceptional credit ratings (think mid to high 700s). My credit rating was lower than my husband's (by a mere 20 points) and that was the basis for the refusal. Confused we scratched our heads and moved on with life.
Fast forward to this week. We are now getting pre approved for a mortgage. The place we are going to for this is willing to let us take out a $200,000 loan easily*. I find it amusing that we can get that rather large sum of money and yet one particular bank would not lend us a much lower amount based on a few piddly point differences. It was not like I had even had a bankruptcy or anything. My husband and I have been careful to try and make sure that there is ample credit building opportunities for the both of us. When we first got married I actually had better credit than him and at one point all our utilities had to be in my name so that we did not have to pay a massive deposit. The world of credit and loans is a very odd place.
* We are wise enough to not take them up on that massive loan. Sadly, in our current residence that loan would not get us much of anything. In Kansas that would get us a pretty hefty house if we were careful about it (new homes there seem to cost a lot more than an equal older home).