How to Borrow $42,000 for $99 - legally

SPECIAL EDUCATION SECTION
Corrupt Banking System - Part 1: Cartels Robbing the Public

Corrupt Banking System - Part 2: How Money is Created

Corrupt Banking System - Part 3: Money is Debt

Corrupt Banking System - Part 4: Monetary Reform

Corrupt Banking System - Part 5: Warning About the NWO

This is so obvious. The thing was staring me in the face for weeks, but I kept throwing the materials away. What am I talking about? Cash checks from my credit card. Now, I know what everyone is thinking, "Nate cash advanced his credit card to the max? That's probably at 29% interest! What a moron!?" Well, to be honest, that is what I thought when I received the materials from Bank of America. After receiving an envelope every two weeks for the past several months, I finally read the details.

• Credit line: $37,400


• 0% APR on balance transfers and cash advances through statement closing June 2009


• 3% service fee. Min $10, Max $99

Too good to be true, right? So here is the chain of events.

7/8/2008
Call Bank of America. Thanked for being a customer since 1999. Instant credit limit increase from $37,400 to $42,400. Verify terms of offer. Confirmed max $99 service fee. Confirmed that the money can be transferred anywhere - including direct deposit to a checking account. Confirmed minimum monthly payment: 1% + finance rate (0%) so 1% of $42,000 = $420 / month.

7/9/2008
Call Bank of America again. Re-verify everything discussed on 7/8. Shock customer service rep who has never seen BoA give unlimited sums of money away for a max fee of $99. Arrange to have $42,000 of $42,400 transferred to my checking account.

At this point, some of you would ask, "Why the hell do you need $42,000?" Well, quite honestly, I don't need it. However, as any smart person will tell you, that is the perfect time to borrow. The more important question: What can I do with $42,000 interest free for the next 10 to 11 months? Quite simply: REINVEST IT AND EARN INTEREST. Since I'm not a big risk taker with this sum of money, a CD will do fine. In hindsight, I called the short term rebound of financial stocks perfectly. I could have earned 30%-60% on this money in the past couple weeks. Oh well. Back to the story.

7/12/2008
Unable to log into Bank of America credit card website. Call BoA. Customer service rep indicates that the website is experiencing issues. I should try later.

7/14/2008
Still unable to log into Bank of America website. Starting to get paranoid. Thoughts of Homeland Security (large money transfer) going through head. Greeted at work by two voicemails from BoA anti-fraud division. Makes sense, but let's crank up the paranoia: How does BoA know my office phone number (which I received in 2000) for a credit card I opened in 1999? I NEVER put my work phone numbers on ANY credit card accounts. Why? I want to receive calls at home... not work. But SOMEHOW, the banking system knows this info. Echelon, anyone?

Anyway, I return the call to the BoA anti-fraud division. We confirm the details of the money transfer, my personal info, and recent transactions. Transfer approved.

7/16/2008
Still unable to log into BoA website. Call customer service again. This time, I am told that my account is locked out and common (aka lowly) customer service reps can't even look at it. I have to call a special division inside BoA.

7/17/2008
Call the double-secret-probation division inside BoA. After second ring, a human answers. When the hell does that ever happen? Needless to say, I saved that phone number. I explain the situation to her, she seems highly compitent, and contacts the parties 'who can help fix this.' Conferenced in with BoA anti-fraud division again. They confirm that they screwed up on 7/14/2008 and did not properly unlock my account. They unlock my account and tell me to wait 1 hour. One hour later, my account is working.

7/21/2008
$42,000 shows up in my ING account. $42,099 is my new balance on BoA credit card. First payment due after August statement closing on 8/11.

And that, my friends, is how you borrow $42,000 for $99. After finding a couple sweet short term CD deals (over 4%, in stable/name brand banks... aka NOT IndyMac), I should be able to earn $1000-$1400 in interest on this 'free' money. Lesson to the world: let your (or in this case someone else's) money work for you. That's a stimulus check I can use.

As it relates, for those of you who have difficulties understanding why Bank of America would allow me to do this, maybe you should learn how banking truly works. I suggest a brief education via the YouTube videos to the right.