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Plastiq for rent, tuition, utilities, etc.

Old Dec 2, 15, 6:53 pm
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Plastiq for rent, tuition, utilities, etc.

Old Apr 6, 16, 6:32 pm
  #436  
 
Join Date: Jan 2013
Programs: Hyatt Glb, MR Plat
Posts: 2,502
Originally Posted by michael_v View Post
I would personally much rather use pay1040.com with 1.87% fee (all cards) rather than mess with Plastiq's check by mail 1.75% (MasterCard only).
+1. Even 2.25% on prop tax I'd rather pay direct.
frudd38 is offline  
Old Apr 7, 16, 12:18 am
  #437  
 
Join Date: Jan 2015
Location: LHR
Programs: AA
Posts: 773
Originally Posted by frudd38 View Post
+1. Even 2.25% on prop tax I'd rather pay direct.
I don't disagree, but why specifically? The security and reliability, I imagine?
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Old Apr 7, 16, 3:35 pm
  #438  
 
Join Date: Jan 2013
Programs: Hyatt Glb, MR Plat
Posts: 2,502
Originally Posted by chrisremo View Post
I don't disagree, but why specifically? The security and reliability, I imagine?
Yes, the minimal amount of savings doesn't outweigh the direct transaction and better recourse with the vendor.
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Old Apr 8, 16, 7:46 am
  #439  
rev
 
Join Date: Aug 2015
Posts: 214
I refinanced my student loan - my second biggest payment - and now am hving it auto-debited for an APR discount. I really don't want to screw up that discount, but now that puts me in a hole with two signup bonuses I'm looking to hit and I'm not confident I can do it without having those student payments through a CC.

My smallest bill goes to a family member, so I was debating for the next 2-3 months paying them that bill + a few hundred more, then they write me a personal check back for that extra money I sent them.

Would that work? Or too shady?
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Old Apr 13, 16, 9:52 pm
  #440  
 
Join Date: Sep 2006
Location: Teaneck, NJ
Programs: SPG Gold, HHonors Gold, IHG Platinum, Marriott Silver
Posts: 691
Saw on Reddit that Plastiq is currently 2% for Mastercardas of today. I'm sure limited time offer. Works out nice for me to make minimum spend on Barclaycard, since I make back more than 2% on the purchase.
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Old Apr 15, 16, 4:32 pm
  #441  
 
Join Date: Apr 2003
Location: BOS .. but soon SFO
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Originally Posted by yoshapman View Post
Saw on Reddit that Plastiq is currently 2% for Mastercardas of today. I'm sure limited time offer. Works out nice for me to make minimum spend on Barclaycard, since I make back more than 2% on the purchase.
this mentality makes no sense to me.

A+ gives you 2.2% back on redemptions.. so you are coming up 0.2% and that is OK with you?

My MS hovers at around 0.5% total and has been at that threshold for 3-4 years running .. I could NEVER imagine spending 2% to MS ... that's just a waste of money
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Old Apr 15, 16, 5:05 pm
  #442  
 
Join Date: Sep 2012
Posts: 4,420
Originally Posted by stupidzbu View Post
this mentality makes no sense to me.

A+ gives you 2.2% back on redemptions.. so you are coming up 0.2% and that is OK with you?

My MS hovers at around 0.5% total and has been at that threshold for 3-4 years running .. I could NEVER imagine spending 2% to MS ... that's just a waste of money
I wouldn't get out of bed and drive to any stores for 0.2% MS. But I think what the other poster is saying is that with Plastiq, you don't have to change out of your PJs.
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Old Apr 18, 16, 3:24 pm
  #443  
 
Join Date: Dec 2014
Posts: 20
has anyone try paying 401k loans with plastiq? would it be worth it to borrow your own money and then pay it back with 5% cb mastercard gc and plastiq. the interest rate in the loan goes back to your account and the best part is your can do it all from your home.
atricus is offline  
Old Apr 18, 16, 7:09 pm
  #444  
 
Join Date: Sep 2012
Posts: 4,420
My wife needs to meet minimum spend requirement of $1000. Will she have problems paying our car payment (Ally) if the car account is in my name only? FWIW, my wife's card is under her maiden name.
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Old Apr 18, 16, 9:26 pm
  #445  
 
Join Date: Sep 2015
Location: Los Angeles
Posts: 734
Originally Posted by DaveInLA View Post
My wife needs to meet minimum spend requirement of $1000. Will she have problems paying our car payment (Ally) if the car account is in my name only? FWIW, my wife's card is under her maiden name.
I don't believe she will have any problems.
Java Cool Dude is offline  
Old Apr 20, 16, 11:46 am
  #446  
 
Join Date: Jul 2011
Posts: 8
Originally Posted by atricus View Post
has anyone try paying 401k loans with plastiq? would it be worth it to borrow your own money and then pay it back with 5% cb mastercard gc and plastiq. the interest rate in the loan goes back to your account and the best part is your can do it all from your home.
I'm not sure about all employer's 401k plans but most will require early payments to be paid in full so that's not going to limit the size of the loan, there are often limits on how many loans you can have at once and even if they let you open new loans all the time, it will take a while to cycle through one.

If your comany somehow doesn't require payroll deduction for periodic repayments, then keep in mind that you do pay tax on the interest you pay into the account because of the loan.

With 2 to 2.5% fees, it's going to be hard to be worth the hassle let alone the risk of missing investment gains while your money is out.

Where are you getting close to 5% back on mastercard gc anyway? Are you counting activation fees?
Vvatts is offline  
Old Apr 20, 16, 3:51 pm
  #447  
 
Join Date: Dec 2014
Posts: 20
my idea was more on the stacking cb. borrow the money let it sit on netspend 5% savings accounts. use citi divident this quarter on drugstore(mastercard or paypal cash) and later on any other offer that might give close to 5% for a payment method that can be converted to plastiq or money order. and as i send payment from plastiq or money orders i repay the credit cards with the netspend accounts. I already tested sending payment in money orders and plastiq and the only rule is if the payment is not the full pay off amount it goes as a normal payment.
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Old May 4, 16, 8:28 am
  #448  
 
Join Date: Jul 2015
Posts: 18
Has anyone here tried to use the Huntington Voice card on Plastiq? It gets 3% back in a category you select, so I'm wondering if Plastiq payments fall under utilities or something.
horse9118 is offline  
Old May 4, 16, 9:46 am
  #449  
 
Join Date: Sep 2006
Location: Teaneck, NJ
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Posts: 691
Originally Posted by Vvatts View Post
I'm not sure about all employer's 401k plans but most will require early payments to be paid in full so that's not going to limit the size of the loan, there are often limits on how many loans you can have at once and even if they let you open new loans all the time, it will take a while to cycle through one.

If your comany somehow doesn't require payroll deduction for periodic repayments, then keep in mind that you do pay tax on the interest you pay into the account because of the loan.

With 2 to 2.5% fees, it's going to be hard to be worth the hassle let alone the risk of missing investment gains while your money is out.

Where are you getting close to 5% back on mastercard gc anyway? Are you counting activation fees?
Plastiq doesn't allow 401K. I also tried a 529 and that was rejected, they said you can't fund any investments.

Are there any services out there that will let this, even if it's a higher amount (2.9 or 3%)?
yoshapman is offline  
Old May 4, 16, 2:24 pm
  #450  
 
Join Date: Jul 2014
Posts: 369
Originally Posted by horse9118 View Post
Has anyone here tried to use the Huntington Voice card on Plastiq? It gets 3% back in a category you select, so I'm wondering if Plastiq payments fall under utilities or something.
On my amex - Category: Business Services - Other Services
chaser123 is offline  

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