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

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

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Old Dec 23, 17, 9:55 am   -   Wikipost
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Last edit by: ed765
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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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Old Jan 2, 17, 8:22 am
  #1  
Original Poster
 
Join Date: Mar 2013
Location: Jackson, WY
Posts: 531
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.
Mbcijim10 is offline  
Old Jan 2, 17, 9:13 am
  #2  
 
Join Date: Apr 2014
Location: MSP
Programs: AS MVPG, BA Bronze, SPG Plat, Hyatt Plat
Posts: 348
Originally Posted by Mbcijim10 View Post
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.
batmandds is offline  
Old Jan 2, 17, 12:58 pm
  #3  
 
Join Date: Mar 2015
Posts: 184
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.
spidy1 is offline  
Old Jan 2, 17, 2:09 pm
  #4  
 
Join Date: Sep 2012
Posts: 4,385
Originally Posted by spidy1 View Post
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).
DaveInLA is offline  
Old Jan 2, 17, 3:56 pm
  #5  
 
Join Date: Jul 2014
Posts: 353
Originally Posted by DaveInLA View Post
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.
chaser123 is offline  
Old Jan 2, 17, 4:44 pm
  #6  
 
Join Date: Mar 2015
Posts: 184
Originally Posted by chaser123 View Post

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?
Anyajade likes this.
spidy1 is offline  
Old Jan 3, 17, 4:54 pm
  #7  
 
Join Date: Oct 2015
Location: BOS, PVD, HYA
Programs: MR, TYP, AA, B6, DL, WN, HH, MB, 2V
Posts: 634
Originally Posted by bodiddely View Post
Chat with support and ask them to switch it. They were able to do so for me and I kept the promo rate.
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."
financialhippie is offline  
Old Jan 5, 17, 6:52 am
  #8  
 
Join Date: Sep 2011
Location: NYC
Programs: Delta Gold, SPG Gold, HHonors Gold, UA Gold (status match)
Posts: 749
Is anyone having issues? Payment sent 12/20 and My building still hasn't received my rent this month.
floridagal23 is offline  
Old Jan 5, 17, 9:03 am
  #9  
 
Join Date: Sep 2015
Location: Los Angeles
Posts: 704
Originally Posted by floridagal23 View Post
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.
Java Cool Dude is offline  
Old Jan 5, 17, 9:46 am
  #10  
 
Join Date: Jun 2015
Posts: 637
Originally Posted by Java Cool Dude View Post
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.
Stivelio is offline  
Old Jan 5, 17, 10:05 am
  #11  
 
Join Date: Jul 2008
Location: SE Georgia
Posts: 85
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!
callinectes is offline  
Old Jan 5, 17, 10:51 am
  #12  
 
Join Date: Oct 2015
Location: BOS, PVD, HYA
Programs: MR, TYP, AA, B6, DL, WN, HH, MB, 2V
Posts: 634
Originally Posted by callinectes View Post
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.
cag805 likes this.
financialhippie is offline  
Old Jan 8, 17, 10:20 am
  #13  
 
Join Date: Aug 2009
Posts: 144
Originally Posted by chaser123 View Post

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.
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?
Dantrav is offline  
Old Jan 8, 17, 11:40 am
  #14  
 
Join Date: Oct 2010
Location: Santa Barbara, CA
Posts: 1,277
Originally Posted by dmarcus163 View Post
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.
penner42 is offline  
Old Jan 8, 17, 11:53 am
  #15  
 
Join Date: Jan 2017
Posts: 3
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?
AjalaTraveler is offline  

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