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.
erockandyou wrote:So here's my thought on the matter and the representative that I just got off the phone with agreed with me as much as he didn't want to! Yes, they are charged a fee as a merchant if somebody use their credit card, as somebody stated above that is the cost of doing business...
The cost of doing business definition is any expense a business incurs while in the process of conducting business. Businesses that don't cover their costs of doing business aren't profitable and tend to go out of business.
Other than that I agree. I face the same decisions you do, and the best course of action for me was a new no minimum checking account with no overdraft protection while maintaining a balance sufficient to cover debit card expenses. Most debit cards these days offer the same protections against fraud as credit cards do as well as debit card controls if that card is issued by Visa or MasterCard. Somebody's got to pay those credit card rewards/benefits - rest assured it's us in the long run one way or another.
FWIW, AT&T just partly joined the war on credit card autopay discounts:
https://tmo.report/2023/07/att-slices-credit-card-autopay-discount-in-half/
They’re losing $5 per line also.
