How Smarter Money Management Can Make You a Cool $826.75 in 10 Minutes

This post is a story about how I made $826.75 in about 10 minutes this morning, and more importantly, how you can, too. This post is also about following the Dough Roller on Twitter, but more about that in a moment. Let’s first get to the money part of this post, which is an example of how smarter money management can help anybody make more money or spend less (today it’s the make more money side of money management we’re focused on).

So here’s the deal

I was up at 6 am this morning doing what I normally do starting at 5 am–research. While I may make this blogging thing look easy (or perhaps I don’t), the truth is that blogging takes a ton of time. And I spend most of it doing research on money deals that can help you better manage your dough.

So today I was researching balance transfer offers. Part of the research was for an article I’m writing, but part of it was because I’m always on the lookout for another great 0% APR credit card. My research led me to a tool, that led me to another tool, that suggested a certain Google search string, that led me to a forum, that led me to a post. The post described a balance transfer offer I’d never heard of (research is so much fun).

The credit card is from a bank I’ve also never heard of. And here’s the deal. The card offers a no interest balance transfer feature for 12 months with NO BALANCE TRANSFER FEE. Just in case there was any confusion with that, the card has NO BALANCE TRANSFER FEE. Oh, it has no annual fee, either. While I’ve found and written about a lot of great balance transfer deals, this is THE best one currently available that I’ve found.

So I applied this morning. The online application took me about 3 minutes to complete. Sixty seconds later I was approved for a $25,000 line of credit, $23,750 of which I could use with a balance transfer (BAM!). And to make things easy, the credit card company offered to send me a check for the $23,750 (or smaller amount of my choosing). I accepted the offer and should be receiving a check for $23,750 in the mail next week (BAM!).

Update: This card is no longer available. That’s the bad news. The good news is that cards now offer 0% on balance transfers for up to 18 months. There is a balance transfer fee, but the extra 6 months make these offers a great deal. You can find them on my balance transfer page.

Where to find this balance transfer deal

Now unless you are a Dave Ramsey disciple, you probably want to know how you can get this offer. That’s where Twitter comes in. I signed up for a Twitter account some months ago, but apart from sending each of my posts through Twitter, have done nothing with it. Every few days I see that somebody has started following my Tweets, as they are called, but frankly I have no idea why.

For those that don’t know anything about Twitter (in which case you’ve just earned my utmost respect), it’s a social networking site in which folks can publish Tweets (i.e., text messages) of no more than 140 characters. You choose who you want to follow on Twitter, and then you can view their messages.

But today I decided to start using Twitter for more than just my posts. Why, you ask. Great question. As I mentioned at the start of this post, I do a ton of research for this site. Most of it never ends up in a post, but still offers great money management stuff that could benefit you. Twitter is a great place to send these deals.

Just to give you an idea, here a few things I’ve found just in the last 24 hours that will probably never make it into a post:

  • A site for retirees where they can see what federal programs they qualify for.
  • Four online forums that showcase some of the best discounts and rebates available for just about everything.
  • A deal to save 25% at Macy’s this weekend.

This morning I Tweeted about how you can get a $20 statement credit from your American Express card by shopping at Wal-Mart. And just a few minutes ago, I Tweeted about where you can find that great balance transfer credit card I described above. So if you want to find out about one of the best balance transfer offers around, follow me on Twitter. Here’s a link to get you started: Doughroller on Twitter (opens in new window).

My Promise to You: If you decide to follow me on Twitter, I will never, ever Tweet about what I had for lunch, or what TV show I’m watching, or how long it took me to floss. All Tweets will be about tools, resources, and tips to help you better manage your money.

So now the question is how that got me to $826.75. I’m going to take the $23,750 check and deposit it into an online savings account at WT Direct. With account balances over $10,000, WT Direct currently pays 3.06%, which is extraordinary for an account that is FDIC insured to $250,000. So for one year, that will net me $726.75.

So what about the remaining $100? Good question. WT Direct is running a Holiday special right now. Based on your average daily balance from January 1, 2009 through February 28, 2009, WT Direct is paying its account holders a bonus up to $250. With balances over $20,000, the bonus is $100. Add that to the interest I’ll earn, and I just made $826.75 in about 10 minutes time. That comes out to $4,960.50 per hour! Too bad I can’t keep doing deals like this.

Of course, how much you can make will depend on your credit score and what credit limit the card offers you. Some may do better than I did. And you may choose to use the money to pay down other high interest debt, rather than putting it in an online savings account. Either way, its free money for a year. Giddy up!

Published or Updated: September 6, 2014
About Rob Berger

Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

Comments

  1. ted says:

    Hi, new subscriber to The Dough Roller. Not sure I understand why this is considered a “balance transfer” and not a cash advance – you’re being sent a check! Any explanations or pointers appreciated. Thanks.

  2. DR says:

    Hey, Ted. Thanks for subscribing. In this case, it does seem more like a cash advance, but the credit card companies treats it like a balance transfer. I’ve had other cards do the same thing when I’m using the money to pay down my home equity. For some reason they have trouble paying that directly, unlike a high interest credit card.

  3. Tom says:

    This is like a wild goose chase. You did not mention which credit card offer it was, are you trying to get us to open every offer? What is up with this carrot on a pole?

    • DR says:

      Tom, as I mentioned in the article, you can find the link to this credit card deal by following me on Twitter. Let me know if you can’t find it.

  4. PT says:

    Great post, DR. Following! @ptmoney

    Great 0% deal too! Thanks!

  5. Brian says:

    Gotta agree with Tom… why is the link to the transfer offer not in the article right where you are talking about it? I just read two whole paragraphs about how great an offer it is… with no link. You can’t tell me that its just as easy for the reader to find on your Twitter account, or that its any harder for you to add the link in the story. The whole thing reads like a shill for your Twitter account… which is Lame-O.

    Also, I must have read about the WT Direct deal on like every other personal finance blog on the planet by now….

    Sorry man, but the bottom line, as you state, is that blogging takes a ton of time for the writer AND the reader when we have to slog through redundant info. Why not just uncover the basics of how one can make “a Cool $826.75 in 10 Minutes” in like 2 or three paragraphs?

    That would save me/us a lot of time. THAT would be BAM!

  6. DR says:

    Brian, you spent more time writing your comment than it would have taken you to click the Twitter link and see the credit card info. So if you want the link, you’re gonna have to go to my Twitter page. But for everybody else (Brian, you are not allowed to click on the link I’m about to put in this comment), here’s the link to the credit card offer: http://tinyurl.com/66uuzt

    By the way, this post was featured in the 182nd Edition of the Carnival of Personal Finance, which you can check out here: http://freefrombroke.com/2008/12/carnival-of-personal-finance-182-dont-go-broke-over-the-holidays-edition.html

  7. Andy @ Retire at 40 says:

    This post has been featured on the 89th Carnival of Money Stories at Retire at 40.

    Great news that you can save so much so quickly.

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