Credit card companies?

Question

Why do they charge a $15 payment to make a payment by phone? Don't you think they charge just a little too much? lol

I don't use checks anymore lol I use only my debit card and it really saves on writing

Answer 1

It is all profit, some of these answers went on and said tech reasons blah blah blah. I will give a good example, i need to pay my phone bill over the phone, my insurance and cable i think they all do not charge a fee and it posts right away. Now every credit card asks for 14-to 15 bucks. lets say 1,000 people dose that over the phone that's 15k extra bucks for them, without really doing a damn thing.
So yes that is to much

Answer 2

Sometimes it's because the companies get charged for that service as well. I work for Macy's credit customer service and we charge $10 for every over the phone payment, but we use a 3rd party system to work those payments and we get charged $5 for every transaction used.

Answer 3

I know one of my cards will charge $15 to pay on the same day of the call. Usually, if you want to have the payment be accepted for the next business day...there won't be a fee.

They usually charge this because they know if you are calling, it's probably the day your bill is due, and they want to make some extra money off you for waiting on sending them money.

It's a nasty, nasty game. You just have to play it right back and pay your bill a week or two before it's due. You're going to have to pay it anyway...why wait?

Answer 4

In that case, don't make a payment by phone.

Answer 5

Because they'd rather you just mail a check.

Answer 6

because they have to stop their automated functions and have a live person get involved.