Several months ago I accepted an offer from Credit One Bank for yet another unnecessary credit card.
This was in following with Dwight Lee's warped philosophy of having as many credit cards as possible, running the totals up to the maximum, and then paying only the minimum payment each month, and not worrying about it because if you die tomorrow you wont have to pay. Dwight died with 16 credit cards maxed out - and with a huge smirk on his face I'm sure.
When I received my first bill I set things up to make online payments through my bank account. The first month's bill was $100 and I paid that. When I went to check online to see if the payment had been posted I noted that it had been but that my outstanding balance was $5.95. WTF? I called Credit One and learned that when you pay online they assess you a $5.95 "convenience fee" so it stood to reason (from their point of view) that I should have a $5.95 charge. This is in addition to the 21 percent interest the thieving bastards charge on purchases. It didn't seem to matter to Credit One that there are zero administrative costs involved in me or anyone else sending payments electronically. Nope. Never let reality get in the way of corporate thievery.
So, after that initial surprise I started adding $5.95 to the bill and it still doesn't go away. For instance. lets say my next bill was $195.95. I would authorize a payment of 105.95 thinking this would take care of the sure-to-be-assessed $5.95 "convenience fee." I"ll be damned. When I get my next bill the 105.95 has been credited to my account but I owe them 95.95 because of the freaking convenience fee added to online payments.
I think the only way to get away from this feeling of being in the movie Groundhog Day with Credit One is to pay the last and final payment with a check and cancel the card so they can't keep charging me for my "convenience."
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