Serious Question
 

When making a credit card payment by mail or online there is no charge. When the credit card company calls when you are late to ensure that they recieve a payment, they do not charge.

So, why do they want to charge you $14.95 to make a payment by phone?

Re: Serious Question
 

I always ask them to wave it and they always do but I only have 1 credit card also

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So, if they can waive the fee, why do they need to charge it?

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I just think it is a extra way they try for the cc company to get money..

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Serious answer.


because they can.

Companies will move you to the direction they want you to go. if they want you to pay one way, that way will be free. if they dont want you to pay one way, they will build in costs associated with that.

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Thats true.

Look now we all have to have cable TV if we are to have TV at all. No more rabbit ears. Big Brother is recording our TV habits I think.

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I never understood that. First of all who charges a 15 dollar processing fee? How come I can withdraw money from a teller machine for a dollar but to pay a credit card by phone it's 15 dollars...

Is it to pay the people that work there? Well, do they not get paid if I don't pay by phone? I mean they are already being paid.

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Is that like taxing cigarettes huge amounts to get them to quit while conveniently paying for our debt? :thumbsup

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I think Big Brother has bigger fish to fry than to be concerned with your very pedestrian television viewing habits.

Now, Nielsen Ratings and advertisers - they'd pay dearly for the right kind of information.

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Could be that it cost companies to process payments via credit and or debit. Any store that takes Debit and or credit that usually ask you whether you want credit or debit will usually run your card as debit cause they are not charged for those. Just a thought

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lol, I am being a little paranoid. And then...

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Probably because to make a payment to a human being over the phone costs them more - they have the overhead to cover (employee compensation package, workspace and ambient infrastructure, etc.). I'm just guessing, as one who has often wondered this as well.

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You shouldn't be watching TV anyway!

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Yes, but that really doesn't answer why they do not charge when using the other methods. If it costs almost $15 to pay by phone, then it should cost $15 no matter how you pay.

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Except for when they call you for being late? Still doesn't make sense because customer service gets paid no matter what.

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Hey, don't try to hi-jack my thread. LOL!

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Actually, they are charged for both. Just usually cheaper to use the debit than credit.

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I don't know, but paying that fee to get your payment in on time is cheaper than paying hiked up interest because you were late once or twice. ;)

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How can they run it as debit, since to run it as debit requires a pin number?

We run all cards as credit.

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Brother Eastman Kodak,

All of these fees are a huge moneymaker for banks. That is why they have a big fee if you go over your credit limit by even one dollar and another fee if you are late on your payment even by one day.

In addition most of my credit card companies offer to expedite a payment made online to a same day payment for some huge fee of about fifteen bucks because they know it is worth it to someone if it not being credited that day means they will be late and they will have a thirty five dollar late charge.

I have not run across a company that makes a distinction in fees between paying online or on the phone though. The only ratoinale I can think of is if you actually are speaking to a customer service rep and they justify it by that costing them money whereas if you did it online it would all be automated. I would be surprised if you were talking to a real person though since most payments by telephone are automated.

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I have made Amex payments by phone and never been charged. But maybe that's just American Express.

My pet peeve - when someone writes US a bad check, they bank charges the church $7 each. And we haven't even done anything wrong. The other day I got a check back from someone for $5 and they charged us $7 and probably charged them $30. CRAZY!!!

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Why ask why?

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Can't you check to see if they have sufficient funds before cashing the check?

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The reason that most banks charge is because they can. If you overnite it to them they know it will cost you $15-18.

Simple supply and demand!

Predatory lending perhaps?

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Take Dave Ramsey's course called Financial Peace, get rid of all your credit cards, pay cash and get out of debt forever. Best financial training available, especially for those already in debt.

Let's break the credit card companies, what they do is criminal.

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Not when there's about 300 checks each week!!