Our dumb Nation

I borrowed the title of this post from the Onion (so I hope they don't sue me) but that is EXACTLY what the good ole US of A feels like to me right now. Katie and I (mostly Katie) have been trying to get a new car. With our debts all gone away we don't exactly have a lump sum of cash laying around, so that means its car loan time.

Before we get into that, a little background on me....I have never borrowed money. My parents paid for my school out of the money they saved for my college education (for which I am and will be eternally grateful) and I have never had a credit card. So, I am pretty proud of that.

Katie has had school loans (which are gone, see the first paragraph) so she has a credit score, and a good one at that.

To the Loan process, we have applied with 4 different institutions now. Here's the breakdown of them so far:
Regions: Approved (which should be good news) but with a rate of 13.74 flippin percent!!! I almost laughed in the girls face when she told me. When she said she needed to call and check if the rate she was seeing was right, I knew it wasn't good. Regions may be on the way out as our bank of choice.
Suntrust: Declined twice. They have a second lending company they use once Suntrust can't offer a loan.
US Bank: We have applied and are awaiting their decision. We had to take me completely off the application for them to consider the loan. So I got that going for me, which is nice.
State Farm: We are applying with my work (yes, State farm does Auto loans, e-mail me at Justin@rustybragg.com if you're interested in learning more)

I am most upset about this: Someone who is in debt up to their eyeballs but can make a minimum monthly payment is more credit-worthy than someone who has never had to borrow money in their life. How dumb of an idea is that? Who are the Ad Wizards that came up with that? I wish I had this dog's credit score in this instance.