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Credit Card Question

Discussion in 'General Chat' started by odoreater, Jul 20, 2006.

  1. odoreater

    odoreater Distinguished Member

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    Does anybody know if there's a credit card where they call you at the end of the month and take your payment over the phone? What I mean is that you don't have to take the initiative to send out the payment or go online to make the payment, but the credit card company itself will call you (and not when your payment is late or anything) to take the payment over the phone?
     


  2. ragdoll

    ragdoll Senior Member

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    That would cut their profit margins, wouldn't it?
     


  3. Quirk

    Quirk Distinguished Member

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    Never heard of it. Better they get the chance to ding you with a $25 late fee. Thank God for debit cards.
     


  4. odoreater

    odoreater Distinguished Member

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    That would cut their profit margins, wouldn't it?

    Not necessarily. People who pay the minimum balance would still pay the minimum balance, and people who are responsible enough to pay their balance in full would pay their balance in full regardless of whether they got a warning call or not. They might lose some late fees, but they might make up for it in getting additional customers who like this feature.
     


  5. whoopee

    whoopee Distinguished Member

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    In this scenario, through what method would you pay over the phone?
     


  6. denimdestroyedmylife

    denimdestroyedmylife Big Winner

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    I have paid over the phone before. They charge you a ridiculoid fee.
     


  7. Spencer Young

    Spencer Young Senior Member

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    OE,

    I currently have a Bank of American debit card, as well as a BoA credit card. I've set up my (free) online banking to automatically pay off the full balance of the credit card three days before being due from the debit card's funds. This might be something you could look into; they won't be calling you, but it's free and you don't have to have any initiative other than monitor your spending.

    Hope that helps,

    Spencer
     


  8. odoreater

    odoreater Distinguished Member

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    In this scenario, through what method would you pay over the phone?

    Checking account.

    OE,

    I currently have a Bank of American debit card, as well as a BoA credit card. I've set up my (free) online banking to automatically pay off the full balance of the credit card three days before being due from the debit card's funds. This might be something you could look into; they won't be calling you, but it's free and you don't have to have any initiative other than monitor your spending.

    Hope that helps,

    Spencer


    Yes, that could be something I should look into. See, my problem is not that I don't have enough money to pay my credit cards. My problem is that I forget to pay them on time. Yesterday I got a phone call from PC Richards that I hadn't paid their credit card in 3 months. I had completely forgotten that I even had a PC Richards credit card (got it because there was 0% financing on some stuff that I wanted to buy at the time).
     


  9. whoopee

    whoopee Distinguished Member

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    Definitely use the online auto-pay service. It should be available from all decent providers these days.
     


  10. DocHolliday

    DocHolliday Stylish Dinosaur Dubiously Honored

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    Definitely use the online auto-pay service. It should be available from all decent providers these days.

    Very good option. Or designate a specific date every month to pay all your bills at once. I find it much more manageable than trying to keep up with what I've paid and what I haven't.
     


  11. briancl

    briancl Distinguished Member

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    There are credit cards that take automatic payments online from a checking account. You can specify that the payment be the full balance. That's even less work than your original proposal of having the CC call you since you don't have to field a phone call and have bank information handy at all times.
     


  12. GQgeek

    GQgeek Stylish Dinosaur

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    Checking account.



    Yes, that could be something I should look into. See, my problem is not that I don't have enough money to pay my credit cards. My problem is that I forget to pay them on time. Yesterday I got a phone call from PC Richards that I hadn't paid their credit card in 3 months. I had completely forgotten that I even had a PC Richards credit card (got it because there was 0% financing on some stuff that I wanted to buy at the time).


    Just figure out what the minimum payment would be for your card if it were maxed-out. Then go to your bank website and setup a payment in that amount plus a few dollars for safety to be performed at the end of every month.
     


  13. Quirk

    Quirk Distinguished Member

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    Just figure out what the minimum payment would be for your card if it were maxed-out. Then go to your bank website and setup a payment in that amount plus a few dollars for safety to be performed at the end of every month.

    But then you might end up paying interest. [​IMG]
     


  14. skalogre

    skalogre Distinguished Member

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    Another point to consider: My Yodlee. You can use it to see all your credit cards bank accounts, momeny market accounts et.c. together. Will also show bill due dates. VERY useful. I have ben using it for some years.

    http://corporate.yodlee.com/moneycen...ostlaunch.html
     


  15. DNW

    DNW Stylish Dinosaur

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    I don't think such a credit card exist. If a CC company has 3 million customers that they need to call at the end of every month to collect, imagine how much money they'd have to pay to the call center people to call their customers. They also won't be able to get in touch with every customer the first time they call, so multiply that 3 million by at least 2, then you have a nightmare from a customer service point of view.
     


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