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Plastiq for rent, tuition, utilities, etc.(2017)

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Old Jan 31, 2017, 10:50 pm
FlyerTalk Forums Expert How-Tos and Guides
Last edit by: ed765
This is the thread for 2017. The previous discussion can be found here.

Successful Credit Cards Used (Posted as Purchase)
Amex Blue Business Plus
Amex Open SPG Business
AMEX SPG (non-business)
AMEX Delta business
AMEX business platinum and business gold (Canadian)
BofA - Virgin Atlantic MC
BofA - Amtrak World MC
Barclaycard Aviator Red/Silver MC
Barclaycard Arrival World MC
Chase Ink Cash Visa
Chase Ink Plus Visa
Chase Hyatt Visa (x2)
Chase BA Visa
Chase United MileagePlus Explorer
Chase United MileagePlus Club
Chase Sapphire Preferred (should give 2x, similar to CSR -- probably expired as of 6/5/17)
Chase Sapphire Reserve (3x, coded as travel -- this appears to have expired as of 6/5/17)
Citi Prestige MC
Citi Premier MC
Citi AT&T Access More MC (3x for rent category, misc. government services)
Citi AA Platinum MC
FIA Fidelity Mastercard
US Bank Altitude Reserve Visa

Successful Payees:
AAA (Socal, Santa Ana) insurance: Electronic payment: Processed 5/21 (Sunday), Complete 5/23, Arrived-Posted 5/26
ACS: took about 2 weeks to post
BMW Financial: Processed 10/13, Sent 10/14, Arrived-Posted 10/19
Caliber Home Loans: Processed 12/09, Sent 12/11, Arrived-Posted 12/18
Cedent mortgage
Chase Mortgage (sends check): 2 week turnaround
Citi Mortgage: Electronic - less than 1 week turnaround as of May 2017
Citizen's Auto Finance - Around 1 week.
CRA Personal Tax & GST/HST remittances
Firstmark Services (student loan, electronically remitted)
Fidelity Bank (Mortgage) https://www.fidelitybank.com/ks/Home.aspx
Flagstar Bank (Mortgage), electronic payment, posts in 2-3 days.
George Mason University: Over a week and a half.
Infiniti Financial: Processed 10/13, Sent 10/14, Arrived-Posted 10/21
Lexus Financial. Processed 3/9/16, Posted 3/14/19
Morgan Stanley Home Loans: Processed 01/14, Sent 01/15, Arrived-Posted 01/21
NA Shade & Associates LLC
National Grid Electric MA: 1 week turnaround
National Grid Gas MA: 3 week turnaround, sends physical check
Nationstar Mortgage, electionic payment, post in 2-3 days.
New York Community Bank (NYCB) Mortgage: check mailed by Plastiq 4/27, posted 5/1.
"NJ City" Tax: Processed 01/21, Sent 01/22, Arrived-Posted 02/01
Penfed Mortgage: 1 week turnaround
PennyMac Mortgage: 1-1.5wk turnaround
TCF Mortgage: 1.5 week turnaround
TD Bank Mortgage (EFT)
Wawanesa USA Insurance
Wells Fargo Mortgage: Processed 10/8, Sent 10/9, Arrived-Posted 10/16
Wells Fargo Mortgage: Processed 8/6, Sent 8/9, Posted 8/16

Restrictions
New VISA payments are not being accepted for mortgages.
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Plastiq for rent, tuition, utilities, etc.(2017)

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Old Jun 29, 2017, 7:40 pm
  #466  
 
Join Date: Oct 2014
Location: PHL
Posts: 226
3x on CIP on 6/27 paying Wells Fargo.
Ratamacue is offline  
Old Jun 29, 2017, 8:23 pm
  #467  
 
Join Date: Nov 2014
Location: USA
Posts: 1,084
Question to folks who have rent/mortgage checks sent to themselves. Do you usually get the check in the mail on the very last day promised by Plastiq?

Thanks
slivrflyr is offline  
Old Jun 30, 2017, 8:50 am
  #468  
 
Join Date: Feb 2017
Posts: 271
Originally Posted by slivrflyr
Question to folks who have rent/mortgage checks sent to themselves.
I was doing that, they asked me to stop...
randomdude is offline  
Old Jun 30, 2017, 10:28 am
  #469  
 
Join Date: Nov 2014
Location: USA
Posts: 1,084
Originally Posted by randomdude
I was doing that, they asked me to stop...
They already sent out my June payment and July will be the last att 3x. After that I just need one more to help w the new biz Amex card minimum spend.

I don't think it makes sense paying 2.5% for 2x MR

I was just hoping to see if folks ever get the checks early or it's literally on the very last day promised by Plastiq
slivrflyr is offline  
Old Jul 1, 2017, 6:23 pm
  #470  
 
Join Date: Sep 2015
Posts: 576
Anyone ever try using plastiq to pay for internet services? if like ink+ codes as internet service?
BuBu4 is offline  
Old Jul 2, 2017, 8:31 am
  #471  
FlyerTalk Evangelist
 
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
Originally Posted by BuBu4
Anyone ever try using plastiq to pay for internet services? if like ink+ codes as internet service?
What internet services don't accept credit cards directly?

I don't see the advantage of using Plastiq (with its 2.5% typical fee) for any service which you can pay directly with a credit card.
sdsearch is offline  
Old Jul 2, 2017, 4:06 pm
  #472  
 
Join Date: Sep 2015
Posts: 576
Originally Posted by sdsearch
What internet services don't accept credit cards directly?

I don't see the advantage of using Plastiq (with its 2.5% typical fee) for any service which you can pay directly with a credit card.
i was curious on the MS front... pay a business coded as phone, internet serves etc.
BuBu4 is offline  
Old Jul 2, 2017, 6:14 pm
  #473  
 
Join Date: Jun 2017
Posts: 9
My rent on CIP just posted as 3X points. Made the payment on June 29.
liquid85 is offline  
Old Jul 3, 2017, 8:36 am
  #474  
FlyerTalk Evangelist
 
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
Originally Posted by BuBu4
i was curious on the MS front... pay a business coded as phone, internet serves etc.
But if you can pay the business directly with the credit card with 0% surcharge, and it codes the same (or better), how does paying the same business through Plastiq with a 2.5% surcharge get you any more value?

So are you fishing for a site that codes as a 5x Ink category through Plastiq but not directly?
sdsearch is offline  
Old Jul 3, 2017, 11:11 pm
  #475  
 
Join Date: Sep 2015
Posts: 576
Originally Posted by sdsearch
But if you can pay the business directly with the credit card with 0% surcharge, and it codes the same (or better), how does paying the same business through Plastiq with a 2.5% surcharge get you any more value?

So are you fishing for a site that codes as a 5x Ink category through Plastiq but not directly?
idea was to create a dummy business, label plastiq payee as a phone, internet services, send check to dummy business. If the phone, internet services codes through to Ink+, then it would earn 5x, fee is 2.5x. you profit...
BuBu4 is offline  
Old Jul 4, 2017, 8:26 am
  #476  
FlyerTalk Evangelist
 
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
Originally Posted by BuBu4
idea was to create a dummy business, label plastiq payee as a phone, internet services, send check to dummy business. If the phone, internet services codes through to Ink+, then it would earn 5x, fee is 2.5x. you profit...
Well, I guess the first question is, do businesses to whom Plastiq sends checks (not electronic payments) ever code more than one way? Or is the coding only "customized" for businesses for whom Plastiq has electronic payments set up?

Ie, for a check, they only have the name and address of the business, not any information about what the business does, and are they going to guess, or are they just going assign a random "catch-all" category and be done with it?
sdsearch is offline  
Old Jul 4, 2017, 10:25 am
  #477  
 
Join Date: Sep 2015
Posts: 576
Originally Posted by sdsearch
Well, I guess the first question is, do businesses to whom Plastiq sends checks (not electronic payments) ever code more than one way? Or is the coding only "customized" for businesses for whom Plastiq has electronic payments set up?

Ie, for a check, they only have the name and address of the business, not any information about what the business does, and are they going to guess, or are they just going assign a random "catch-all" category and be done with it?
consider Plastiq coding CIP usage for Mortgage as travel, it kinda makes me wonder if it would be different.
BuBu4 is offline  
Old Jul 4, 2017, 12:42 pm
  #478  
 
Join Date: Sep 2011
Location: SNA
Programs: AA EXP, Hilton Diamond, Hyatt Globalist, IHG Plat, Marriott Gold, National EE
Posts: 1,204
Originally Posted by BuBu4
idea was to create a dummy business, label plastiq payee as a phone, internet services, send check to dummy business. If the phone, internet services codes through to Ink+, then it would earn 5x, fee is 2.5x. you profit...
I think there are a few questions raised by this scenario.

How would one cash checks written to that business?

Would one open accounts under that business's name? What kind of proof of bonafide business existence would one provide when questioned by the bank?

Would one file incorporation paperwork with the state authority on business formations? Is there a tax your local authority imposes? (California charges $800 per year)

Will that dummy business file a tax return?

How would one receive funds from the business? Would it be payroll or not?

How would distributions from the business to the person be taxed?

Do Plastiq and/or card issuers do some basic verification of payee / category fit by searching publicly available databases for corporations / NAICS codes / etc?
ralphs is offline  
Old Jul 4, 2017, 2:40 pm
  #479  
 
Join Date: Jan 2014
Location: TYS/BNA/ATL
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Posts: 1,973
Originally Posted by BuBu4
idea was to create a dummy business, label plastiq payee as a phone, internet services, send check to dummy business. If the phone, internet services codes through to Ink+, then it would earn 5x, fee is 2.5x. you profit...
I tried it. Didn't work. Still testing all the categories with Visa/MC. So far the results are not promising.
yugi is offline  
Old Jul 4, 2017, 2:42 pm
  #480  
 
Join Date: Sep 2015
Posts: 576
Originally Posted by yugi
I tried it. Didn't work. Still testing all the categories with Visa/MC. So far the results are not promising.
thanks. this is the DP i was looking for.
im assuming it codes the same as all card, MISC government expense or something?

i know amex, master, visa(personal) all code that way.
BuBu4 is offline  



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