Caroline Mayer writes about how add-on fees have taken over.
Citigroup started offering payment by phone — for $9.95 per transaction — after it saw a number of customers sending their payments by overnight mail. “That wasn’t very economical, and our $9.95 fee is certainly better than a $15 to $20 overnight fee” as well as cheaper than a late fee, said Citigroup spokeswoman Maria Mendler. Citigroup late fees range from $15 to $35, depending on how much money is owed. And cardholders can always pay online, where payments are processed quickly without any fee.