Wednesday Win: Free Money

How I feel right now…

How I feel right now…

A few months ago I got a little flyer in the mail from Citizens’ bank saying that I could get $200 for FREE. I am never one to pass up anything that’s free, especially if it’s free money. However, I have been around long enough to know that everything comes with a catch, with that I mind, I made it my first priority to locate the fine print. Here were the terms:

  1. Open the account by a certain date
  2. Make a deposit of ANY amount every month to avoid a monthly statement charge
  3. At least one of the deposits must be $100 within 2 months of the account opening
  4. The account must be open for 3 months

Here’s how I fulfilled the requirements:

  1. I opened the account 2 days before the deadline with the minimum allowed: $20
  2. I deposited $1 every month to avoid the charge…
  3. Except to meet the $100 requirement. Within 2 months I made one deposit of $100.
  4. A few days past the 3 month mark, the account was credited $200.

I found out at 4:30pm, at 9am the next morning I closed the account and withdrew $324. If you’re doing the math, that’s a return of 161% over the course of 3 and a half months. If only my retirement accounts could perform like this all year! I could work part time for the rest of my life and still retire like a queen…

I don’t believe in get rich quick schemes and I don’t believe in doing anything illegal, but if an opportunity presents itself for something legitimate, there’s no reason why you shouldn’t take advantage of it. My dad did point out that it’s possibly costing them more than a dollar to process my $1 transaction, but by saying “a deposit of ANY amount”, that’s the risk they take. I followed all of their rules and I was rewarded for it. I played their game according to their rules, and I won. It doesn’t always happen, so when it does, it should certainly be celebrated.

Let me know if anyone else is running a similar promotion. Mama needs a new pair of shoes! 😛

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