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That usually happens when the dealer make a mistake and doesnt submit the application at the time of request for financing.
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You'll like working with BMW Financial. I purchased a 328i coupe October 2009 and like you was approved for the BMW Visa card. I received the card in 2 weeks and the CL was $3,650. All depends on your credit file at the time you're applying. They pulled all 3 reports. The BMW Card website is pitiful and needs a lot of work...I still use it to pay off the card each month but it is clunky. I found out the hard way with their website...if you don't use it regularly, they will automatically shut you out and you have to go through the registration process all over again. I ended up having to call their customer service to get logged back in.
I took advantage of the BMW Owner's website to setup recurring payments so I never have to worry about writing a check. Thank God the BMW Owner's website is completely separate from the BMW Visa website.