"No pre-set spending limit does not necessarily mean unlimited spending."
YES IT DOES. I wasted an hour on the phone with these morons applying for this card, even though the first thing I said on the call was "I spend at least $100k / month and need a NO LIMIT charge card. Can you help me?" He said yes, but after an hour on the phone he says "Congratulations, we have approved you for a $10,000 no-limit card." After several minutes trying to make him understand that $10k is a LIMIT and I was led to believe this was a NO LIMIT card, I hung up in frustration.
Bank of America, I freaking hate you.