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Home > $53.00 "Convenience" Fee ?? - $20K Update
 

$53.00 "Convenience" Fee ?? - $20K Update

February 9th, 2014 at 07:02 pm

Our property taxes are due soon. We can make 2 partial payments through out the year, or pay the balance in full by Feb 15th to get a 5% discount ($97.76). So I am paying now to get the discount. I wanted to put the payment on our Discover card, that would give me another 45 days or so with the money in savings making interest, plus a nice amount towards our Cashback Rewards with Discover. I went on the website to pay, it said there would be a convenience free (I was thinking $5-$10), I got to the checkout, and the fee was $53.26!! WHAT?! Obviously that isn't my kind of convenient...boo! So I just transferred the money out of savings and we will pay by check instead. Taxes were $2113.97 after the discount was subtracteed, I transferred $2100.00 out of savings. What an absurd fee!

We were sooooo close to $30K....UGH!


New Focus = Short Term EF $470/$1000

Current Balance $29,355.00
-$2100.00 Property Taxes
New Balance $27,255.00

ING $23,715.00
Home Improvements(cash)$440.00
HSBC $3100.00
Total = $27,255.00

4 Responses to “$53.00 "Convenience" Fee ?? - $20K Update”

  1. creditcardfree Says:

    That is a large fee! I haven't seen one that high. Our locality doesn't provide an early payment discount, so that is very nice!

  2. Petunia 100 Says:

    That's almost exactly 2.5%, which is about what a merchant pays each time they accept a credit card. Your county isn't willing to absorb the cost.

    Yeah, I wouldn't use my credit card either. Smile

  3. snafu Says:

    All the CC companies collect a fee from the business and organizations they serve. Have you looked at the profit Visa makes for their shareholders?

  4. creditcardfree Says:

    I didn't think about it as a percentage of your charge, but 2.5% would be common.

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