Credit Card Question

[odoreater]

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?

 

[ragdoll]

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

 

[Quirk]

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

 

[odoreater]

Originally Posted by ragdoll

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.

 

[whoopee]

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

 

[denimdestroyedmylife]

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

 

[Spencer Young]

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

 

[odoreater]

Originally Posted by whoopee

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

Checking account.

Originally Posted by Spencer Young

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).

 

[whoopee]

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

 

[DocHolliday]

Originally Posted by whoopee

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.

 

[briancl]

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.

 

[GQgeek]

Originally Posted by odoreater

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.

 

[Quirk]

Originally Posted by GQgeek

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.

 

[skalogre]

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

 

[DNW]

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.