Question
No matter how well banks are doing, it seems they are always looking for ways to do still better, like imposing new "junk" fees. (My notion of a "junk" fee is a charge for what was previously free and costs the bank little or nothing.) To my surprise and consternation, I just learned that Chase is imposing a new fee of $9.95 for all payments by phone on its different credit cards. This includes the UA Platinum Visa card. (It also affects another Chase credit card that I have but don't know the kind, maybe a "Signature" Visa.) It seems that I can still mail them my payments, a PITA way of doing business, or have them automatically debit my bank account on a pre-set date, a very convenient way of doing things. But to pick up the phone and instruct them to take the money from my bank account then, even though it is can be a fully automated service requiring no phone time with a CSR, that will be $9.95 henceforth.
Have others encountered this with Chase credit cards? Do others think this fee is a reasonable one? Are other banks imposing these charges too?
Answer
No matter how well banks are doing, it seems they are always looking for ways to do still better, like imposing new "junk" fees. (My notion of a "junk" fee is a charge for what was previously free and costs the bank little or nothing.) To my surprise and consternation, I just learned that Chase is imposing a new fee of $9.95 for all payments by phone on its different credit cards. This includes the UA Platinum Visa card. (It also affects another Chase credit card that I have but don't know the kind, maybe a "Signature" Visa.) It seems that I can still mail them my payments, a PITA way of doing business, or have them automatically debit my bank account on a pre-set date, a very convenient way of doing things. But to pick up the phone and instruct them to take the money from my bank account then, even though it is can be a fully automated service requiring no phone time with a CSR, that will be $9.95 henceforth.
Have others encountered this with Chase credit cards? Do others think this fee is a reasonable one? Are other banks imposing these charges too?
Citibank charges $25.00 for phone payments. However, I have had it waived for my Chairman Card.
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Why don't you pay online???
Most other banks charge this fee too, some even higher than $9.95. Don't be surprised, about a third to a half of a bank's revenue comes from fees these days.
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Why don't you pay online???
Most other banks charge this fee too, some even higher than $9.95. Don't be surprised, about a third to a half of a bank's revenue comes from fees these days.
I was surprised because it was $0 before, now $9.95. While not online, not clear why it is much different doing it by phone when no human is involved, only the automated system, so it is only a matter of their voice-recognition software and/or the customer using the keypad to input the information. There are times when one doesn't have computer access and it was nice to have this alternative means of paying, but won't be at $9.95 a shot.
Also, I was surprised by the Chase Signature card experience since I had just done it with my UA Visa Platinum and heard nothing about a charge, though I was told later I should have gotten that fee message and they would reverse the charge.
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Not just bank, my telephone company, BellSouth charges $2.00 to pay over the phone since 4 years ago. I dont know how much it is now, as I quitted paying it over the phone and strictly do the online payment. Oh, BellSouth wouldn't let you prepay either - when your bal is 0, and you are going aboard and may not have internet access when the next bill is cut, you want to prepay so you wont miss payment and be dinged for late pay fee, right? BellSouth wont let you prepay. I have to scramble in Europe to find internet access to pay them online!
BTW, there is 0 difference between the Signature Visa and Platinum Visa - other than some tiny differentials in the benefits, I think it is in the rental car insurance coverage, not really sure. The so-called no spend limit set on the Signature Card is a hogwash. You still get a credit line set by the bank, but the line is not reported to the CRBs, so it actually negatively impacts your FICO. (the balance and the line is in a ratio of 1:1 as the line is reported exactly the same as the balance when you have charges that month.)
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Not just bank, my telephone company, BellSouth charges $2.00 to pay over the phone since 4 years ago. I dont know how much it is now, as I quitted paying it over the phone and strictly do the online payment. Oh, BellSouth wouldn't let you prepay either - when your bal is 0, and you are going aboard and may not have internet access when the next bill is cut, you want to prepay so you wont miss payment and be dinged for late pay fee, right? BellSouth wont let you prepay. I have to scramble in Europe to find internet access to pay them online!
BTW, there is 0 difference between the Signature Visa and Platinum Visa - other than some tiny differentials in the benefits, I think it is in the rental car insurance coverage, not really sure. The so-called no spend limit set on the Signature Card is a hogwash. You still get a credit line set by the bank, but the line is not reported to the CRBs, so it actually negatively impacts your FICO. (the balance and the line is in a ratio of 1:1 as the line is reported exactly the same as the balance when you have charges that month.)
Just to be clear, I am reacting to a substantial (as these things go) fee for "automated" service, that is dealing entirely with voice-recognition software, no humans involved at any time. Like booking online through united.bomb, for which there is no fee, versus having a CSR do it over the phone for $15 or in person and paying $20 for that privilege. But OK, others seem to take this as the way things are these days.
I disagree with you about "0 difference between the Signature Visa and Platinum Visa - other than some tiny differentials in the benefits." There are many significant differences in what I get with one versus the other. (I think may have a variety of credit card products which count as "Signature Visa," and I can't tell you exactly which I have.) With the SV, I earn Chase Rewards, more when used for groceries, pharmacy, or gas; with PV I get 1 RDM for each $1, and up to 15K of EQM for sign-up bonus, spend >$35K, and up to $5K spend through united.com. Different annual fees. Very different redemption possibilities with each too.
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Just to be clear, I am reacting to a substantial (as these things go) fee for "automated" service, that is dealing entirely with voice-recognition software, no humans involved at any time...
You're assuming this software is cheap to install and maintain.
TD Ameritrade charges around $30 to use an automated phone system for trades. Online it is $10. It sounds like the Chase fee you described is not unusual.
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Amex charges nothing on ANY of its products.
Credit Or Charge.
fee cards or anual fee cards.
And you can do it for free with a live human being in the USA!
You don't even need to do it with an automated system to not have a fee charged. Ames does not charge for exellent customer service. Qualty is the only patent protection they have.
No offense, but if you do business with Chase, you deserve to screwed.
fool me once shame on you.
fool me twice shame on me.
I find Amex in their dealing with me to be far less sleazy and unilaterial and predatary than pretty much ANY other multnational , multibillion dollar illuminanti.
I have yet to NOT prevail in any legitimate dispute with a merchant.
Amex takes disputes on line and verbally on the phone for free.
An agent taking a dispute verbally is much more time intensive task than an automated payment.
Chase requires a WRITTEN letter even before OPENING a casefile.
Moreover with Chase they don't even accept FAXED letters.
I won't open the Marriott Rewards card because it is First USA.
I won't touch Chase -and now First USA by extention with a ten foot pole.
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No offense, but if you do business with Chase, you deserve to screwed.
Why? Could you please elaborate on what happened to you?
I have yet to NOT prevail in any legitimate dispute with a merchant.I contested several charges from a company that went bankrupt, totalling something like $6,000. Chase came through, no problem. The merchant bank fought it, but I won. I also "have yet to NOT prevail in any legitimate dispute with a merchant." I don't see why you consider that a relevant point anyway.
Chase requires a WRITTEN letter even before OPENING a casefile.Even if this is true, it is in your interest to contact them in writing, as per consumer banking law. Maybe you're unaware of this.