Forum Discussion
what's up with T-mobile removing autopay discount for credit cards?
I just literally signed up for a new plan - debit cards have fees for providers too - accessing my bank account isn’t a good approach from a security perspective (noting that T-mobile has been hacked...
That was announced months ago. It is because credit card companies charge a service charge that is based on the percentage of every transaction, which eats into T-Mobile's revenue. Removing the auto pay discount for credit cards negates that.
It does not matter who the company is because many companies are suffering through these difficult times (you know, interest rate hikes) and just because T-Mobile is huge doesn't mean that they aren't struggling too, it also doesn't mean they're going broke. That would take a monumental screw up on their part. Credit card fees are the cost of doing business but it is also prudent for businesses to recuperate money to keep profit margins high.
Somebody in here stated that T-Mobile is hurting for money but that is definitely far from the truth and as far as the breaches, I can tell you that I have been a victim of many breaches. I don't worry because I have a lock on all my credit reports which can be easily lifted at any time, for free. Ask me how and I will share. My credit union also has a fully-featured app which allows me to lock my card if there's any trouble, and if there is an unauthorized payment, then they will take care of it. Many companies are victims of breaches and only a few companies would be stupid enough not to invest in security measures and be very transparent with their customers. I was a victim of the recent T-Mobile breach and T-Mobile was very transparent and communicative. My social security was even tapped from the breach but as I have stated, I lock my credit reports. There was no attempt on my credit file to this date yet.
Yes, it sucks not being able to get the cash rewards on the credit card, I am with you on that because I was considering moving to that option. I'm not going to let it upset me to the point that I would consider my carrier a piece of garbage, so-to-speak.
In my opinion, the only real risk is if you are part of an older generation or a financially irresponsible individual that has a real problem with payment methods and security features for modern times. If this is the case, I suggest you lay down your paranoia somewhat and try to focus on the present and what you can do to better protect yourself and those you care about, not squabbling about using a different payment method.
Hoping the best and that this helps.
