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.
Telecom wrote:Data breach is more important than getting $5-$10 auto discount. Debit card is direct access to bank account and loosing all money if hacked. Better to change the carrier.
Not true. Debit cards that are backed by Visa and MasterCard offer the same fraud protections as credit cards do. Some even offer rewards and/or deals. At the same time, most banks offer card controls that can limit debit spending, spending categories, single transaction accounts, alerts, locks, etc. I get pending debit alerts in real time and all it takes is phone call to halt any suspect activity before the COB - debits don't occur until close of business. Once I notify the bank the burden falls on them to prove it wasn't fraudulent activity.
I don't like it any more than anyone else but nearly everything I have now is eliminating discounts when paying by credit card (some add a fee when paying by credit card). TMO isn't unique in this whether it be taxes, utilities, or just about anything else. Not apologizing for TMO's action but folks need to get over it at this point and change carriers if it's a burden or simply continue using their credit cards.
In reality I've got a second free (no minimum balance) checking account with a debit card (and strict debit spending controls) that I keep a minimal balance in as needed for bill payments. It has no overdraft protection.
