Time for a new CC? Check out this offer!

[mrpaseo]

So I log onto my BoA account to check my balance (I do this about once a day, some call it OCD, I like to think I'm staying on top of my finances). They have a special offer for me, here are a few quotes:

Bank of America® Visa Signature® Credit Card with WorldPoints® rewards
*Receive a $25 Statement Credit after qualifying transaction(s)
*No preset spending limit - never worry about going over your credit limit
*Introductory 0%† APR for Balance Transfers* and Direct Deposits through your first 15 billing cycles. (These transactions are subject to a 3% transaction fee, no less than $10. Intro APR will end if late or overlimit. Payments are applied to lower rate balances first.)

So If I am seeing this correctly so far, I receive 25 dollars, NO CREDIT LIMIT, and 0% interest rate for 15 months. So I think to myself... NO CREDIT LIMIT? I wonder how much I can take out in cash.... So I read on and find this:

How much can I request for a balance transfer?
You may request any amount from a minimum amount of $100 up to, but not exceeding, your available credit line, including any transactions fees applicable to the balance transfer.

So I am not to exceed my available credit line, yet I have no credit limit. I wonder what is stopping me from going in and taking a cash advance of a million dollars.



And before you bring up the 3% fee with no upper limit... If I take out a cool mill, what makes you think I'm going to worry about paying it back

[mrpaseo]

Then, if I default it says this:

Default APR (for Visa Signature® accounts): Variable APR is 28.99% for all Purchase, Balance Transfers, and Cash Advance Balances if late. See 2 below for explanation.

[mrpaseo]

So the $1Million cash advance with a 3% fee would cost me 30,000 right out the door.

Then, when I did not pay the payments it would cost at least $298,597 per month in interest.

Sound fun, to you think they would come to Iraq to find me?