My power company, Dominion Power, offers me to pay my monthly power bill online using a credit card. They add on a $1.65 fee for the service, and appear to accept payments of up to $1,000.
It appears the system is designed that you cannot overpay your bill, even though it accepts payments of up to $1,000. In other words, if you’re monthly power bill due is $100, you won’t be able to pay more than that (thus, this is not a good manufactured spending technique, and even if it was, I don’t know how you’d get the extra overpayment money back).
Is $1.65 worth it?
In some cases yes, in some cases no. It’s worth it when you…
- Have to meet a minimum spending requirement on a credit card and can’t otherwise meet it without this service.
- Have a power bill of over $250, since adding on a $1.65 fee will be less than what you’d pay for a Visa/Mastercard gift card of a similar price. If you have a power bill of $1,000, for example, using this feature would be really worth it, since you’re generating 1,000 points at only $1.65. I’d hope none of you have this high of a bill, though… 🙂
When is it not worth it?
- If you’re bill is less than $250 a month. In this case, you’d be spending more on earning the points off your electric bill than you could be buying a gift card of a similar price, and then cashing out that gift card using either Serve or Bluebird.
Do you pay your monthly power bill using a credit card, and if so, what’s the fee?
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