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Plastiq for rent, tuition, utilities, etc.

Old Dec 2, 2015, 5:53 pm
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Plastiq for rent, tuition, utilities, etc.

Old Jun 18, 2016, 12:00 pm
  #466  
 
Join Date: Feb 2013
Posts: 170
Setting cash advance to zero does not help. Cash advance is typically 3%.

Some bank categorize Plastiq as cash equivalent which has a flat 5% fee. You get hit twice because Plastiq payments are two transactions. If you pay say $500 using Plastiq and if the bank considers as cash equivalent then

$500 will result in $25 fee from the bank
Plastiq fee $ 12.5 will result into additional $10 fee (Minimum fee)

So there is a possibility of paying $35 fee to the bank over and above $12.5 one pays to Plastiq.
Nishant1 is offline  
Old Jun 19, 2016, 7:33 am
  #467  
 
Join Date: Sep 2005
Location: Columbia, SC
Programs: AA Plat, SPG/Marriot Gold, HHonors Diamond, Hyatt Expl
Posts: 2,363
Originally Posted by Nishant1
Setting cash advance to zero does not help. Cash advance is typically 3%.

Some bank categorize Plastiq as cash equivalent which has a flat 5% fee. You get hit twice because Plastiq payments are two transactions. If you pay say $500 using Plastiq and if the bank considers as cash equivalent then

$500 will result in $25 fee from the bank
Plastiq fee $ 12.5 will result into additional $10 fee (Minimum fee)

So there is a possibility of paying $35 fee to the bank over and above $12.5 one pays to Plastiq.
Any examples of which banks classify Plastiq charges as cash advances?
akcae is offline  
Old Jun 19, 2016, 10:55 am
  #468  
 
Join Date: Oct 2002
Location: SF Eastbay
Programs: AA Plt-Lite 2MM,HH Gld, MR Plat
Posts: 613
Any data points using Plastiq to pay mortgage with Nationstar? Thanks
sbc94523 is offline  
Old Jun 25, 2016, 11:14 pm
  #469  
 
Join Date: Dec 2007
Posts: 126
Limits?

Are there any limits to how hard one should consider going on Plastiq? Has anyone gotten shut down? They have asked me for verification multiple times, as I have been paying the mortgage on a multiple million dollar property using their service, and the rent on another property we are leasing. They just wanted a copy of the mortgage statement, which I easily supplied. It scared me a bit, as many services are not exactly setup to deal with amounts that are normal in expensive markets. Due to certain rewards structures at the moment, it might even be a pure arbitrage to prepay my mortgage a bit using Plastiq. Has anyone gone harder than $20k per month? Thanks for the insight!
gmangg is offline  
Old Jul 2, 2016, 9:21 pm
  #470  
 
Join Date: Feb 2013
Posts: 170
Originally Posted by gmangg
Are there any limits to how hard one should consider going on Plastiq? Has anyone gotten shut down? They have asked me for verification multiple times, as I have been paying the mortgage on a multiple million dollar property using their service, and the rent on another property we are leasing. They just wanted a copy of the mortgage statement, which I easily supplied. It scared me a bit, as many services are not exactly setup to deal with amounts that are normal in expensive markets. Due to certain rewards structures at the moment, it might even be a pure arbitrage to prepay my mortgage a bit using Plastiq. Has anyone gone harder than $20k per month? Thanks for the insight!
Your credit card company is likely to shut down the account before Plastiq shuts it down.
Nishant1 is offline  
Old Jul 4, 2016, 7:22 am
  #471  
 
Join Date: Sep 2011
Location: USA
Posts: 1,179
Any data points on using Amex HH Surpass and not being charged CA? Thanks
tsmith12 is offline  
Old Jul 4, 2016, 11:14 pm
  #472  
 
Join Date: Jan 2015
Location: LHR
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Posts: 773
Originally Posted by tsmith12
Any data points on using Amex HH Surpass and not being charged CA? Thanks
It posts as purchase.
chrisremo is offline  
Old Jul 5, 2016, 6:05 am
  #473  
 
Join Date: Sep 2011
Location: USA
Posts: 1,179
Originally Posted by chrisremo
It posts as purchase.
Great, Thanks! ^
tsmith12 is offline  
Old Jul 6, 2016, 12:07 pm
  #474  
 
Join Date: Jun 2016
Location: Prince Edward Island
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Have any self-employed Canadians out there used plastiq to pay GST or income tax instalments? It seems like an easy way to meet the $5000 minimum spend on the Amex gold or platinum business cards.
Low Roller is offline  
Old Jul 12, 2016, 3:53 pm
  #475  
 
Join Date: May 2008
Programs: AA PLT 2MM
Posts: 2,026
Originally Posted by akcae
Anyone have any experiences using a Capital One card? The search didn't provide any results.
Was this ever answered? I'd also be curious.

Searching the thread for 'Capital One' only reveals this point.
thehawk75 is offline  
Old Jul 12, 2016, 4:08 pm
  #476  
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Join Date: Jul 2006
Location: Upper Sternistan
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Anyone find it strange that you have to click through two screens just to get to the login page?

It's like they're geared to new users more than returning users.
josephstern is offline  
Old Jul 12, 2016, 4:25 pm
  #477  
 
Join Date: Nov 2014
Location: USA
Posts: 1,084
DP: utility Billpay via western union posted as purchase on chase United
slivrflyr is offline  
Old Jul 12, 2016, 5:30 pm
  #478  
 
Join Date: Jan 2013
Programs: Hyatt Glb, MR Plat
Posts: 2,581
Has there even been any cash advance hits?
frudd38 is offline  
Old Jul 12, 2016, 5:56 pm
  #479  
 
Join Date: Nov 2014
Location: USA
Posts: 1,084
Originally Posted by frudd38
Has there even been any cash advance hits?


From minimal research I did it seems to me that the CA came from using WU to send cash to people
slivrflyr is offline  
Old Jul 30, 2016, 6:07 pm
  #480  
 
Join Date: Jan 2011
Posts: 230
Anyone here have experience paying a mortgage in someone else's name? Does the payment show your own name on it?
Reikon is offline  

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