I have always worked really hard: 7 jobs in college ranging from MCAT tutor, college chemistry TA, nanny, to care-taker for the disabled.

Then, I worked 2 jobs in medical school while full time mommying + full time studying.

Radiology resident: which pays 60k (starting this 7/1/2016) for 80 hour week

  • Medical Student for 4 years: 50k tuition and fees per year to study/work 100hrs/week
    • –> NEGATIVE $9.6/hr, not counting the horrendous 7% student loan interest that starts day 1 of med school.

Today, I have 4 jobs:

  • Radiology resident: which pays 60k (starting this 7/1/2016) for 80 hour week
    • –> $15.6/hr
  • Blogger: which pays me nothing so far (after expenses)
    • –> $0/hr
  • USMLE tutor: which pays me generously per hour as I’m own boss & have extensive track record of success, but I intentionally have very few clients throughout the entire year.
    • –> $130-$388/hr
  • Mommy: MWM is my #1 sources of expenses after mortgage, but like I had told her. She’s worth more than all the treasures in the world combined.
    • –> negative $0-200/hr depending on the nature of the activity Mini is doing

time is more valuable than moeny

So it is truly nice to make some $ that takes little of my time:

After all, time is the only irreplaceable resource in my life. Time can earn money, but money can’t buy back time.

This post will detail step-by-step how I made money by churning cash flow in the circle of money.


  1. Go to and open the cheapest/free Citibank online account
  2. Choose to fund the bank account with a CREDIT CARD
  3. Print out the authorization form. Complete form and fax it.
  4. Online account opened 10/2. Form faxed 10/5. Citibank gets deposit on 10/7. BOA is charged on 10/8. Funds available to pay bills 10/16 in $10,000 maximum increment. All funds paid back to credit card 10/21.
  5. The entire cycle takes 14 business days, well within grace period of credit card cycle.
  6. Each additional $10,000 you are moving will add additional 1 day to the cycle.


  1. Call the credit card you plan to use and lower your CASH ADVANCE limit to the minimum. This is protective mechanism. This prohibits your credit card company from charging the transaction (your funding a new Citibank checking account with the credit card) as a cash advance. Cash advance usually has INSTANT interest in the magnitude of 20-30%. You will lose way more than you make if your credit card company charges this transaction as cash advance.
  2. By lowering your cash advance limit and requesting an amount higher than your cash advance limit, you make sure that your credit card company can only process your transaction as a PURCHASE (and give you cash back/point rewards) OR block the transaction. This prevents you from paying more interest to the credit card company than the rewards you get from them.

account opened
You get this page after you successfully open your new Citibank checking account online. Next step is fax in the authorization form indicating how much you want charge your credit card to fund your new Citibank account.

 10/20/2015 Expand transaction for Transaction date: 10/20/2015PMT FROM BILL PAYER SERVICE Type Payment -$10,000.00 $13,973.70
 10/20/2015 Expand transaction for Transaction date: 10/20/2015PMT FROM BILL PAYER SERVICE Type Payment -$10,000.00 $23,973.70
 10/20/2015 Expand transaction for Transaction date: 10/20/2015PMT FROM BILL PAYER SERVICE Type Payment -$7,168.00 $33,973.70
 10/17/2015 Expand transaction for Transaction date: 10/17/2015PMT FROM BILL PAYER SERVICE Type Payment -$10,000.00 $41,141.70
 10/14/2015 Expand transaction for Transaction date: 10/14/2015PAYMENT – THANK YOU Type Payment -$142.00 $51,141.70
 10/08/2015 Expand transaction for Transaction date: 10/08/2015CITIBANK ONLINE OFALLON MO Type Purchases $37,168.00 $51,283.70

The above BOA credit card activity demonstrates how money is used to pay off the very credit card it was drawn from. So at the end of this, all that was charged on the BOA credit card when funding the new Citibank account was paid off by the money deposited into the Citibank.

Circle of money:

Charge BOA credit card –> Fund Citibank new checking account –> Pay off BOA credit card

Each cycle: 1.1% of the money moved was made as purchase associated, tax free cash rewards

Each cycle: takes me <30 minutes of work to complete; generates $550

That’s how I made $1,100/hr of my time spent

The credit card authorization form you need to fill out in order to fund your new Citibank account with your credit card:

Credit card autho filled in

You can also watch this YouTube video @ Dr WiseMoney for an explanation on how to do this.

I hope you make some tax-free money too. Banks are getting smarter & closing this highly lucrative (for common people like you & me) opportunity by lowering the limit of how much you can fund  a new checking account with a credit card or simply prohibiting credit card funding all together. But Citi-BOA combo worked for me (I can no longer do it anymore, my name is probably banned from the fact that Citibank effectively paid me $2,500 last year without gaining anything from me).

Hope it works for you! Give yourself a little pat on the back for all the hard earned dollars you with your day job.

Update: as of 7/14/16, Citibank prohibited funding new bank accounts with credit cards. But if you like to try still, it does not hurt. I just know that personally I am not able to do the same, I’d imagine because Citibank noticed that I had multiple open and closed accounts with them.

However, there are other banks out there that allow you to fund a new banking account with credit cards with various limits. Here’s a list. 

But make sure you read all the fine prints and avoid landmines such as the transaction being processed by your credit card company as “cash advance” rather than purchases. Do your research before you jump. If you are cautious and avoid the landmines, you get rewarded pretty heavily. Not to mention, if you are in a pinch and need cash, this is great way to borrow 0% to negative interest cash for a little while (12-21 months depending on the 0% APR promotional period of a card.)

Share your brilliant money making tips below 😉

Personal Finance, Investing, Retirement, Practice Management, & Lifestyle More articles like this on Physician’s Money Digest.

$1,100 for 45 Minutes of Your Time

5 thoughts on “$1,100 for 45 Minutes of Your Time

  • August 13, 2016 at 6:36 am

    Great post DWM. Which BOA cc did you use?

    • August 14, 2016 at 4:26 am

      BankAmericard Cash Rewards Visa Signature 🙂
      it does seem though most BOA cards will process funding a bank account (at least with Citibank) as purchase rather than cash advance. but from experience (repeated) BankAmericard Cash Rewards Visa Signature certainly works in this process.

      now, i think the party that loses money is Citibank (hence it shuts this down recently).
      1. BOA charges Citibank 1.5-3% (guessing) for processing the transaction as purchase.
      2. I get 1.1% back from BOA for being a loyal customer and making a large purchase using BOA credit card.
      3. Citibank was hoping to borrow my 50k deposit from BOA credit card for a few months at least (at 0% interest rate) but lose out as I use that 50k to pay back off BOA large balance right back…

      Once you find the best cash back credit card to do this, it’s just an issue of finding the bank that will allow you to make money from them… (which is a rare occurrence as banks love financial losers, not winners… they are unhappy and shut things down when their own tricks of borrowing low, lending high + making money with someone else’s money is used against them)

      • August 14, 2016 at 5:05 am

        So why not appease them both? Take money from CC to fund citi card and use that moment from citi bank to pay down some student loan or mortgage or put a down payment for the yacht 😉 jk

        • August 14, 2016 at 12:58 pm

          haha. one of my friends was saying i should have put the 50k in citibank in a CD at citibank earning a 1-2% for the year.
          but i thought, if i pay BOA right back, then I could restart the cycle of making $550 per cycle of 50k money moment, which means I get guaranteed 1.1% return within less than a month, conservatively speaking, that’s 13.2% guaranteed annual return!
          oh well, citibank is history, so i got my 3k and said bye to the process.
          can you imagine, before the banks start shutting this type of operation down, people with 100k credit limit could easily make over $1k per 20 minutes of their time 🙂
          that’s what i hope to do, is to be at the forefront of such information, disseminate it here so my readers can benefit before good deals like these shut down.

          fortune favors the brave and the informed.
          p.s. i like moving money from big banks into the pockets of every day people like you and me because once a upon a time i was a college student with 7 odd jobs, frantically trying to pay my parents’ credit card bills (they missed 2 payments and their APR jumped to 29.99%).


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