Payment plan fee of $5 per month...really?

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This post has 42 Replies | 4 Followers

Posts 8
Steven Ross | Forum Activity | Posted: Thu, Jul 10 2014 7:20 PM

The incessant advertising has worked. I would like to upgrade to Logos 5. The one time price is hard to swallow but the payment plans tack on $5 extra dollars for each moth of the plan. That seems to me to be ridiculously expensive for a payment plan...the word usury is extreme but it comes to mind. I love the software and fully recognize all the research/development cycles need to be paid for somehow. I do not get why you charge so much to get the software on a payment plan. Come on Logos...you can do better.

Steve

Posts 2305
Joseph Turner | Forum Activity | Replied: Thu, Jul 10 2014 7:35 PM

Then put it on a credit card and deal with the interest.  I am guessing you would end up paying much more than $5 a month, depending on your amount.  I owe enough to purchase a small island, so I am happy to pay $5 a month vs credit card interest.

Disclaimer:  I hate using messaging, texting, and email for real communication.  If anything that I type to you seems like anything other than humble and respectful, then I have not done a good job typing my thoughts.

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Matthew C Jones | Forum Activity | Replied: Thu, Jul 10 2014 7:36 PM

Steven Ross:
..the word usury is extreme but it comes to mind

Are you kidding?   Remember, there is no interest charged.  The flat $5 fee is for any balance; $80 or $8000.

You can always put it on a credit card but I bet it costs more than $5 a month.

Logos 7 Collectors Edition

Posts 8
Steven Ross | Forum Activity | Replied: Thu, Jul 10 2014 7:42 PM

You miss the point.  I expect a credit card company to charge me unreasonable interest.  I don't expect it from Logos. Charge me an extra $5 total to do the plan maybe...not $5 per month.  It is unreasonable.

Posts 8
Steven Ross | Forum Activity | Replied: Thu, Jul 10 2014 7:44 PM

No I'm perfectly serious. I don't care that it is a flat fee...$5 per month for a payment plan is too much in my opinion. And why would I put it on a credit card...that is an irrelevant comment.  My point is that Logos should not charge so much for people on a budget to get an upgrade.

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Joseph Turner | Forum Activity | Replied: Thu, Jul 10 2014 7:46 PM

Steven Ross:

You miss the point.  I expect a credit card company to charge me unreasonable interest.  I don't expect it from Logos. Charge me an extra $5 total to do the plan maybe...not $5 per month.  It is unreasonable.

I think assuming that they should allow you up to 24 months to pay off your purchase for only $5 is a little unreasonable.  I am happy with the $5 per month personally, but again, I owe a lot.  You could always lower the amount of months to lower the amount of $5 fees.  How long is your plan?

Disclaimer:  I hate using messaging, texting, and email for real communication.  If anything that I type to you seems like anything other than humble and respectful, then I have not done a good job typing my thoughts.

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Mike Childs | Forum Activity | Replied: Thu, Jul 10 2014 7:51 PM

Super.Tramp:

Steven Ross:
..the word usury is extreme but it comes to mind

Are you kidding?   Remember, there is no interest charged.  The flat $5 fee is for any balance; $80 or $8000.

You can always put it on a credit card but I bet it costs more than $5 a month.

You are kidding right?  No interest?  If you buy  something for $300 - like the Keller sermons, for example.  And you pay it off in 6 months at $50 a month.  That $5 free is $30 for the 6 months, equivalent to 20% APR.  Call it a fee or call it interest.  It is the same thing.

If you buy something cheaper, the equivalent interest rate is much higher.  Buy something more expensive it is lower, but you pay it longer.

I am not complaining.  Nothing wrong with the fee at all.  It is quite fair, and a real service.  I have used the payment plan, and will probably do it again.  So I don't agree with the criticism of Logos about this.  There is nothing hidden about it.

It is also very profitable for the company.  And I am amused by the "no interest".  There is always interest when you borrow other peoples' money.  That is life.

"In all cases, the Church is to be judged by the Scripture, not the Scripture by the Church," John Wesley

Posts 2305
Joseph Turner | Forum Activity | Replied: Thu, Jul 10 2014 7:52 PM

Steven Ross:

No I'm perfectly serious. I don't care that it is a flat fee...$5 per month for a payment plan is too much in my opinion. And why would I put it on a credit card...that is an irrelevant comment.  My point is that Logos should not charge so much for people on a budget to get an upgrade.

You didn't have the money to make the purchase outright, and you chose to put it on a payment plan.  Clearly a credit card would have been the only other option.  You must see where that is a relevant comment.  Your only other options were credit card or don't purchase at all.  The credit card would have probably cost you more interest, as would any other payment plan from any other company.  

I will also say that you can always add products to your plan, but the $5 per month always stays the same, so you don't end up paying more in fees for adding extra resources, assuming you keep the months the same.

Disclaimer:  I hate using messaging, texting, and email for real communication.  If anything that I type to you seems like anything other than humble and respectful, then I have not done a good job typing my thoughts.

Posts 2305
Joseph Turner | Forum Activity | Replied: Thu, Jul 10 2014 7:55 PM

Michael Childs:
You are kidding right?  No interest?  If you buy  something for $300 - like the Keller sermons, for example.  And you pay it off in 6 months at $50 a month.  That $5 free is $30 for the 6 months, equivalent to 20% APR.  Call it a fee or call it interest.  It is the same thing.

I agree, but I guess I always have a large enough payment plan that it doesn't come out this way.  I would weigh a lower purchase in light of this, and I honestly don't know what the OP's plan is, so it might not be more than credit card interest in his situation.  

Clearly the OP's solution is to add more resources to his payment plan, thereby making it worth it!  Stick out tongue

Disclaimer:  I hate using messaging, texting, and email for real communication.  If anything that I type to you seems like anything other than humble and respectful, then I have not done a good job typing my thoughts.

Posts 8
Steven Ross | Forum Activity | Replied: Thu, Jul 10 2014 8:02 PM

I'm wanting to do the bronze upgrade in 12 months.  The amount it adds to the total is ridiculous in my opinion (roughly $65!!). Please understand I love logos...read the last line of my original post...I just think they can do better by their customers/supporters.

By the way I should have found another avenue to post this complaint.  With respect, I really am not interested in the thoughts of non-Logos folks (no offense).  I meant this to be responded to (if they choose) by Logos. Only they can either offer some sort of justification for this exorbitant "fee" or choose to change this policy.

Steve

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Matthew C Jones | Forum Activity | Replied: Thu, Jul 10 2014 8:15 PM

Steven Ross:
$5 per month for a payment plan is too much in my opinion.

How much per month is reasonable? 

Steven Ross:
And why would I put it on a credit card...that is an irrelevant comment.

It is very relevant since it is the most common alternative. 

Logos 7 Collectors Edition

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Matthew C Jones | Forum Activity | Replied: Thu, Jul 10 2014 8:23 PM

Steven Ross:
Only they can either offer some sort of justification for this exorbitant "fee" or choose to change this policy.

I bet I can get my sales rep to knock off $65 from the price of Bronze....Smile

Logos 7 Collectors Edition

Posts 2305
Joseph Turner | Forum Activity | Replied: Thu, Jul 10 2014 8:37 PM

Super.Tramp:

Steven Ross:
Only they can either offer some sort of justification for this exorbitant "fee" or choose to change this policy.

I bet I can get my sales rep to knock off $65 from the price of Bronze....Smile

Yes, this is the way I would go as well.  Good advice!

Call in tomorrow Steven and see what they will do for you.  Don't just email or chat;  get someone on the phone.

Disclaimer:  I hate using messaging, texting, and email for real communication.  If anything that I type to you seems like anything other than humble and respectful, then I have not done a good job typing my thoughts.

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Rosie Perera | Forum Activity | Replied: Thu, Jul 10 2014 8:50 PM

Steven Ross:
I'm wanting to do the bronze upgrade in 12 months.  The amount it adds to the total is ridiculous in my opinion (roughly $65!!). Please understand I love logos...read the last line of my original post...I just think they can do better by their customers/supporters.

Realize that for them to put off receiving the total amount from you for 12 months (spaced out evenly over the months) is going to be an opportunity cost to them (think of what they could be doing with that money if they had it already: investing it in R&D, or earning interest on it in the bank). It's only fair to compensate them for that. I'm guessing that in addition to the administrative costs of putting you on a payment plan (which might be reimbursed by a one-time $5 flat fee), they're easily going to be set back by the remaining $60 by having to wait for your full payment to come in. So $65 in total doesn't sound ridiculous to me when you think about it that way.

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Keep Smiling 4 Jesus :) | Forum Activity | Replied: Thu, Jul 10 2014 11:08 PM

Steven Ross:
The one time price is hard to swallow but the payment plans tack on $5 extra dollars for each moth of the plan.

If pay off balance of Logos plan, then monthly fee stops.

Observation: monthly $ 5 fee helps offset merchant fee paid by Logos to the credit card company for processing a monthly payment => https://en.wikipedia.org/wiki/Merchant_account  If rate is 1.8 %, then credit card company charges Logos $ 5.40 to process a monthly payment of $ 300.

Note: amount shown on customer billing statement is more than amount received by Logos after credit card processing fee.

Keep Smiling Smile

Posts 383
Daniel Bender | Forum Activity | Replied: Fri, Jul 11 2014 2:51 AM

KS4S, thank you for your observation. I always learn something from your positive posts and perspectives.

Posts 57
William | Forum Activity | Replied: Fri, Jul 11 2014 7:45 AM

For me, the $5 a month has been worth it for this fact:  When I called and said I want to add several thousands of dollars to my package, they told me that it would cost me an extra $5 a month on payments.  The thing I didn't have to do was fill out paperwork, go through credit check, explain my circumstances, etc.  Logos trusted me and took me at my word that I would pay.  To me that are showing a lot of trust in their business dealing with me so I am more than willing to pay an extra $60 a year to cover their overhead to do this.  Just my opinion.

Bill

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Jack Caviness | Forum Activity | Replied: Fri, Jul 11 2014 8:11 AM

Steven Ross:
Only they can either offer some sort of justification for this exorbitant "fee"

If you do not like the charge, do not use the Logos payment plan. You complained on this forum; therefore, you should not be surprised to receive responses from the members of this community.

If you really want to hear from Logos, then use one of the methods outlined on this page https://www.logos.com/contact 

Posts 3855
Floyd Johnson | Forum Activity | Replied: Fri, Jul 11 2014 9:12 AM

Deleted

Blessings,
Floyd

Pastor-Patrick.blogspot.com

Posts 3855
Floyd Johnson | Forum Activity | Replied: Fri, Jul 11 2014 9:37 AM

Super.Tramp:
I bet I can get my sales rep to knock off $65 from the price of Bronze....Smile

I bet you can Super Tramp - but I have never (though I have been a LOGOS user for nearly 12 years) had a sales rep discount an item or bundle for me.  Sorry, I am not impressed.

Blessings,
Floyd

Pastor-Patrick.blogspot.com

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