How many of those credit card offers do you get in the mail each week? I can't keep count anymore. You might never believe there is a crisis in the capital markets associated with inadequate due diligence before offering people credit.
But every now and then one comes through that you are tempted to sign. This one wended its way to my office, having first been mailed to me at our division of otolaryngology. That alone should have given me a hint. (Not being an MD, I am not anything close to an otolaryngologist and have always had trouble pronouncing the word.)
It was a premier gold card from Capital Network Leasing Corporation, aka CAPNET. It offered me $100,000 in available credit -- 0.0% interest or no payments for 90 days; no activation or annual fees; and seasonal promotions for preferred customers. In small print, it said "We will not require financial statements or tax returns for any transaction under $100,000, but do reserve the right to request and verify your financial statements and tax returns for all transactions over $100,000.
I'll keep my transactions under $100,000 so I don't have to provide proof of creditworthiness. I hear that you can get good deals on HumVees right now. Maybe I can squeeze in two under the limit.
But, boy, if you get $100 grand with a gold card, imagine what platinum would bring!