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

I have 2 monthly business payments I would make with Plastiq, $9k & $14k, anyone have recurring payments data points that high? I'm not concerned about my cc, my concern is with plastiq. Haven't tried plastiq yet.

Don't worry about those numbers. I do way more than that in business payments monthly with no issues.

do you guys MS via plastiq? it just seems a great way to meet minimum spend, other than that it does not seem that cost effective.

I do. I don't do it all the time, mostly to meet minimum spend. Too many avenues have shut down for me to do other forms of MS now, and the remaining methods I'm aware of just aren't worth my time or effort.

When Plastiq got 2x points for "Small Business", I used it pretty aggressively, especially to pay mortgage and property tax using my business SPG and business Plat card ($15K spend requirement).

Paying bills is not MS'ing. Those are real bills you are paying. Plastiq is very good for earning points on almost any bill.. I do MS through plastiq (and pay bills). Its an important liquidation method right now. Wth no limits you can earn any currency you need.

Don't the fees negate any points value that you are earning?

No luck! Here's what Plastiq said in an email (haven't been able to get in touch with them over chat, but will give it a shot):

"Thank you for reaching out to us here at Plastiq.
My apologies but your promotional rates are locked to the card used and amount designated at the time of the promotion. The change would have needed to be made during the promotional period in order retain the fee, any changes will cause your fee to reset to the current stand fee rate for MasterCard.
If there is anything else I can assist you with please feel free to respond to this email."

Is anyone having issues? Payment sent 12/20 and My building still hasn't received my rent this month.

My payment was sent on the 21st and got deposited today instead of the 1st as usual.

I got an email from plastiq sometime during last 2 weeks of December that there were will be some delays in payments posting because of holidays and so I wouldn't blame them if there were delays.

I'm new to points game so please forgive my noob question. Between mortgage, car payment and electric I have about $1700/month I can't put directly on a credit card. I'm thinking of trying Plastiq for those but I can't figure out if I will come out ahead. I have an AMEX everyday card so I only get 1x on most charges other than special offers. However, I always hit the 20 transactions so I get 20% on top of my regularly earned points. If I have done my math right I would pay $38.25 in fees to Plastiq and earn 1700 base points and 340 from the 20%. Would I actually come out ahead in the long run? Getting another card with a sign-up bonus is not an option right now so I have to make do with what I have.

Thanks!

You really have to do your own math in this game, nobody else can tell you if it's worth it, but you'd have to ensure that the points are worth more than the fee. Your fee would actually be $42.5 at the current AmEx rate of 2.5%.

You'd calculate the math like this:

$1,742.5 spent * (1 pt/$ + .2 pt bonus/$) = around 2,091 points.

Are those 2,091 points worth the $42.50 fee to get the spend? You tell me! You have to figure out the "cost" of those points. Fee divided by points = cost per point or cpp. Once you have your cpp, you need to decide whether it's a good deal. If you cpp is lower than the typical value you get for Membership Rewards, great! If the cpp is higher, don't bother, not worth it.

So using Plastic for paying real estate taxes and a mortgage will not be considered MS by Amex Bus Platinum card? I don't want to have to deal with claw back issues. Has anyone used this for the initial minimum spend?

I put two $5500+ property tax payments on my business platinum, and met the rest of the $15k spend with regular spending. It hasn't been that long yet, but I don't expect them to pull the points back.

Plastiq = Eligible Points for Chase Sapphire Reserve
 

Hi All,

Newbie here thinking of getting the Chase Sapphire Reserve but the only big expense I have coming up is rent in order to make that big sign up bonus.
I know some of you use Plastiq or similar services frequently; do they categorize your payments correctly so you are still able to accrue the right points for the sign up bonus?