Jan 1, 2018, 10:40 am
Last edit by: ericdabbs
Updated Dec-2023 (Plastiq Policy URL links do not work when clicked directly from FT. Copy links to address bar to view)
Visa Card Policy
https://support.plastiq.com/s/article/Visa-Card-Policy
American Express Card Policy
https://support.plastiq.com/s/article/American-Express-Card-Policy
Summary of Supported Payments by Card Brand
https://support.plastiq.com/s/article/supported-payments-by-card-brand
Official word from Plastiq regarding Visa Business cards that was asked which was previously thought it applied to only Visa Personal cards
Plastiq is unable to support mortgage payments on any Visa credit cards. This is an industry-wide mandate that affects all third-party bill payment services. Please note that mortgage payments are also unsupported for credit cards issued by U.S. Bank or Capital One and AMEX.
Plastiq Fees:
Standard Plastiq card payment processing fee is 2.9%. This puts most of the credit cards out of the reward range. Plastiq turns itself into a niche position to earn new card bonus or status threshold. Some CCs may still work.
It makes most of the reward programs not profitable. Use Plastiq to meet welcome bonus spending requirement or to meet certain spend requirements to reach elite status or for large spend bonus. Also take advantage of Plastiq referrals and promotions.
Delivery Fees (The Plastiq Ch. 11 restructure now added some delivery fees):
ACH/EFT/Electronic $0.99
Paper Check $1.49
Wire Transfer: Domestic/International $8.99/$39
This is the thread for 2018 and forward. The previous discussion can be found here.
Updated Nov-2018: A lot of the personal Visa CCs can't be used at Plastiq. Some will be treated as cash advance and won't receive any rewards. Only Capital One personal Visa CCs are not affected. Business Visa CCs are still good. The best CCs are Mastercard and Discover. AmEx CCs can still be used, but not on many of the payment types. Chase personal Visa cards are limited to the cash advance limit (typically 20% of CL). The details are listed as below:
Plastiq Referrals:
Standard Referral: When you refer your friend to Plastiq, after your friend charges $500 or more, your friend will get$500 ($0?) FFDs (fee free dollar) and you'll receive $1,000 ($100) FFDs to spend.
All personal prepaid Gift Cards (GCs) are disallowed. Not sure what "business" gift card can be used.
Successful Credit Cards Used (Posted as Purchase, Visa info outdated)
Note that Plastiq no longer accepts American Express for any transactions as of 2/10/23.
Amex Blue Business Plus
Amex Open SPG Business
AMEX SPG (non-business)
AMEX Delta business
AMEX business platinum and business gold (Canadian)
BofA - Amtrak World MC
BofA - Business Advantage Travel Rewards MC
BofA - Virgin Atlantic MC
Barclaycard Aviator Red/Silver MC
Barclaycard Arrival World MC
Chase Ink Cash Visa
Chase Ink Plus Visa
Chase Ink Preferred 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.
NewRez Mortgage, Sent 9/20 Arrived 9/30
"NJ City" Tax: Processed 01/21, Sent 01/22, Arrived-Posted 02/01
Penfed Mortgage: 1 week turnaround
PennyMac Mortgage: 1-1.5wk turnaround
SCE (So Cal Edison)
SoCal gas
TCF Mortgage: 1.5 week turnaround
TD Bank Mortgage (EFT)
Toyota Financial
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.
*Visa Gift Card by Blackhawk does not seem to be working
Visa Card Policy
https://support.plastiq.com/s/article/Visa-Card-Policy
American Express Card Policy
https://support.plastiq.com/s/article/American-Express-Card-Policy
Summary of Supported Payments by Card Brand
https://support.plastiq.com/s/article/supported-payments-by-card-brand
Official word from Plastiq regarding Visa Business cards that was asked which was previously thought it applied to only Visa Personal cards
Plastiq is unable to support mortgage payments on any Visa credit cards. This is an industry-wide mandate that affects all third-party bill payment services. Please note that mortgage payments are also unsupported for credit cards issued by U.S. Bank or Capital One and AMEX.
Plastiq Fees:
Standard Plastiq card payment processing fee is 2.9%. This puts most of the credit cards out of the reward range. Plastiq turns itself into a niche position to earn new card bonus or status threshold. Some CCs may still work.
It makes most of the reward programs not profitable. Use Plastiq to meet welcome bonus spending requirement or to meet certain spend requirements to reach elite status or for large spend bonus. Also take advantage of Plastiq referrals and promotions.
Delivery Fees (The Plastiq Ch. 11 restructure now added some delivery fees):
ACH/EFT/Electronic $0.99
Paper Check $1.49
Wire Transfer: Domestic/International $8.99/$39
This is the thread for 2018 and forward. The previous discussion can be found here.
Updated Nov-2018: A lot of the personal Visa CCs can't be used at Plastiq. Some will be treated as cash advance and won't receive any rewards. Only Capital One personal Visa CCs are not affected. Business Visa CCs are still good. The best CCs are Mastercard and Discover. AmEx CCs can still be used, but not on many of the payment types. Chase personal Visa cards are limited to the cash advance limit (typically 20% of CL). The details are listed as below:
Plastiq Referrals:
Standard Referral: When you refer your friend to Plastiq, after your friend charges $500 or more, your friend will get
All personal prepaid Gift Cards (GCs) are disallowed. Not sure what "business" gift card can be used.
Successful Credit Cards Used (Posted as Purchase, Visa info outdated)
Note that Plastiq no longer accepts American Express for any transactions as of 2/10/23.
Amex Blue Business Plus
Amex Open SPG Business
AMEX SPG (non-business)
AMEX Delta business
AMEX business platinum and business gold (Canadian)
BofA - Amtrak World MC
BofA - Business Advantage Travel Rewards MC
BofA - Virgin Atlantic MC
Barclaycard Aviator Red/Silver MC
Barclaycard Arrival World MC
Chase Ink Cash Visa
Chase Ink Plus Visa
Chase Ink Preferred 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.
NewRez Mortgage, Sent 9/20 Arrived 9/30
"NJ City" Tax: Processed 01/21, Sent 01/22, Arrived-Posted 02/01
Penfed Mortgage: 1 week turnaround
PennyMac Mortgage: 1-1.5wk turnaround
SCE (So Cal Edison)
SoCal gas
TCF Mortgage: 1.5 week turnaround
TD Bank Mortgage (EFT)
Toyota Financial
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.
*Visa Gift Card by Blackhawk does not seem to be working
Plastiq for rent, tuition, utilities, etc.(2018 onwards)
Aug 14, 2018, 6:39 pm
#271
Join Date: Apr 2018
Posts: 262
As Mastercard support mortgage payments through Plastiq, what are good reward credit cards to support this on-going monthly bill? Since I am paying the mortgage, I might as well get some return (points, miles and/or cashback).
Looking through my credit cards, the only Mastercard is my IHG. IHG only provides 1 point per dollar spend on non-IHG bonus expense so this card isn't ideal as Plastiq charges 2.5% fee (not counting current Masterpass promo). I am looking for net-positive (or break-even) to cover the 2.5% fee.
A quick research shows that the Barclays Arrival Premier might be a good choice. Arrival Premier earns two miles per dollar on all spending, with a 15,000 mile bonus awarded at $15,000 and another 10,000 at $25,000 in a year. If I spend $25,000 (easily with mortgage), the the miles earning/multiple is 3x (75,000 miles with $25,000 spend).
Is my math correct? Is it good/worth it? Are there other reward credit cards (doesn't have to be Mastercard) that would be better to support on-going mortgage payments?
Looking through my credit cards, the only Mastercard is my IHG. IHG only provides 1 point per dollar spend on non-IHG bonus expense so this card isn't ideal as Plastiq charges 2.5% fee (not counting current Masterpass promo). I am looking for net-positive (or break-even) to cover the 2.5% fee.
A quick research shows that the Barclays Arrival Premier might be a good choice. Arrival Premier earns two miles per dollar on all spending, with a 15,000 mile bonus awarded at $15,000 and another 10,000 at $25,000 in a year. If I spend $25,000 (easily with mortgage), the the miles earning/multiple is 3x (75,000 miles with $25,000 spend).
Is my math correct? Is it good/worth it? Are there other reward credit cards (doesn't have to be Mastercard) that would be better to support on-going mortgage payments?
Last edited by robchow; Aug 14, 2018 at 6:45 pm
Aug 14, 2018, 6:50 pm
#272
Join Date: Aug 2018
Posts: 8
NYU tuition
Hey guys. Have read a whole bunch of this thread and just wanted to make sure I have done my research correctly.
NYU tuition coming up soon. Plastiq charges 2.5% fee but my CIP would get 3x. I have the cash on hand to pay for the tuition so I would not incur any interest in the CC.
Am I missing anything?
NYU tuition coming up soon. Plastiq charges 2.5% fee but my CIP would get 3x. I have the cash on hand to pay for the tuition so I would not incur any interest in the CC.
Am I missing anything?
Aug 15, 2018, 9:29 am
#274
Join Date: Jul 2018
Location: SAN
Posts: 54
Little DP. Tried to use CIP to pay Wawanesa Insurance but was initially blocked because it was being classified as mortgage. Had to open a ticket. Received an email three days later saying issue is resolve. I set up payment for later this month so we'll see.
Aug 15, 2018, 9:41 am
#275
Join Date: Aug 2012
Location: BOS/MHT/PVD/BDL
Programs: Belong to Many but No Longer Loyal to Any
Posts: 880
Hey guys. Have read a whole bunch of this thread and just wanted to make sure I have done my research correctly.
NYU tuition coming up soon. Plastiq charges 2.5% fee but my CIP would get 3x. I have the cash on hand to pay for the tuition so I would not incur any interest in the CC.
Am I missing anything?
NYU tuition coming up soon. Plastiq charges 2.5% fee but my CIP would get 3x. I have the cash on hand to pay for the tuition so I would not incur any interest in the CC.
Am I missing anything?
Aug 15, 2018, 1:35 pm
#276
Join Date: Aug 2018
Location: Florida, USA
Posts: 1
Sorry if this has already been addressed recently. I haven't read through this entire thread, but I was hoping someone might be able to answer my question. Does Chase currently code all Plastiq purchases as a cash advance, and if so does those purchases then not qualify towards the minimum spending requirements for sign up bonuses? I've seen a few articles that said all Plastiq charges with a Visa will be coded as cash advances starting June 1st. Just wanted to see if someone has done this recently and could verify.
Thanks!
Thanks!
Aug 15, 2018, 1:53 pm
#277
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
As Mastercard support mortgage payments through Plastiq, what are good reward credit cards to support this on-going monthly bill? Since I am paying the mortgage, I might as well get some return (points, miles and/or cashback).
Looking through my credit cards, the only Mastercard is my IHG. IHG only provides 1 point per dollar spend on non-IHG bonus expense so this card isn't ideal as Plastiq charges 2.5% fee (not counting current Masterpass promo). I am looking for net-positive (or break-even) to cover the 2.5% fee.
Looking through my credit cards, the only Mastercard is my IHG. IHG only provides 1 point per dollar spend on non-IHG bonus expense so this card isn't ideal as Plastiq charges 2.5% fee (not counting current Masterpass promo). I am looking for net-positive (or break-even) to cover the 2.5% fee.
If you're interested in AA miles, it so happens both of those banks issue AA cards. If you're interested in Star Alliance redemption more, Citi ThankYou Premier card transfers to Avianca, which has 1 year expiration that can be reset through many on-the-ground activities including another transfer. SkyTeam is trickier with MCs, since it's mostly only SkyTeam airlines with horrible expiration policies (no extensions possible) that you can transfer to from MC cards.
(But learn about Citi TYP cancellation/downgrade/expiration considerations before you possibly decide on a Citi TYP card. TYP works very dfiferently than Chase UR or Amex MR, and you shouldn't make any assumptions about how it works.)
Be careful of some card claiming you earn 2x points (if you're unfamiliar with its points program). You need to know the value of those points, and what restrictions there are on using them. A Citi DoubleCash MC earns 2% simple cash back on everything. While for some cards with points programs, the math for what value you can get from the points is complex depending on how exactly you redeem them. (And some cards take a point that is worth half a cent and claim you earn 2x of those points per dollar, but that would simply mean you earn only 1% cashback, which would not be very competitive for cashback. So be careful that you don't assume that anything that says "2x" is more valuable.)
Meanwhile, be careful committing to some card or program long term based solely on Plastiq. Platiq changed what works how a few times in the last couple years, and who knows if they'll change things again? Yes, MC seems safest based on recent history, but there are no guarantees.
Last edited by sdsearch; Aug 15, 2018 at 2:01 pm
Aug 15, 2018, 8:23 pm
#278
Join Date: Jan 2017
Posts: 41
Best Mastercards for plastiq in my opinion are either citi doublecash, Citi or barclays American airlines varieties, barclays arrival varieties, citi thankyou point cards (the att access and more used to be MONEY for plastiq mortgages), or jetblue barclays (to help hit free mosaic status through spend to $40,000 and points of course).
Aug 16, 2018, 6:31 pm
#279
Join Date: Apr 2018
Posts: 262
Major banks that mostly ssue MasterCard include Citi and Barclay.
If you're interested in AA miles, it so happens both of those banks issue AA cards. If you're interested in Star Alliance redemption more, Citi ThankYou Premier card transfers to Avianca, which has 1 year expiration that can be reset through many on-the-ground activities including another transfer. SkyTeam is trickier with MCs, since it's mostly only SkyTeam airlines with horrible expiration policies (no extensions possible) that you can transfer to from MC cards.
(But learn about Citi TYP cancellation/downgrade/expiration considerations before you possibly decide on a Citi TYP card. TYP works very dfiferently than Chase UR or Amex MR, and you shouldn't make any assumptions about how it works.)
If you're interested in AA miles, it so happens both of those banks issue AA cards. If you're interested in Star Alliance redemption more, Citi ThankYou Premier card transfers to Avianca, which has 1 year expiration that can be reset through many on-the-ground activities including another transfer. SkyTeam is trickier with MCs, since it's mostly only SkyTeam airlines with horrible expiration policies (no extensions possible) that you can transfer to from MC cards.
(But learn about Citi TYP cancellation/downgrade/expiration considerations before you possibly decide on a Citi TYP card. TYP works very dfiferently than Chase UR or Amex MR, and you shouldn't make any assumptions about how it works.)
Be careful of some card claiming you earn 2x points (if you're unfamiliar with its points program). You need to know the value of those points, and what restrictions there are on using them. A Citi DoubleCash MC earns 2% simple cash back on everything. While for some cards with points programs, the math for what value you can get from the points is complex depending on how exactly you redeem them. (And some cards take a point that is worth half a cent and claim you earn 2x of those points per dollar, but that would simply mean you earn only 1% cashback, which would not be very competitive for cashback. So be careful that you don't assume that anything that says "2x" is more valuable.)
Meanwhile, be careful committing to some card or program long term based solely on Plastiq. Platiq changed what works how a few times in the last couple years, and who knows if they'll change things again? Yes, MC seems safest based on recent history, but there are no guarantees.
Meanwhile, be careful committing to some card or program long term based solely on Plastiq. Platiq changed what works how a few times in the last couple years, and who knows if they'll change things again? Yes, MC seems safest based on recent history, but there are no guarantees.
Yup, understand Plastiq can change what can be used for mortgage.
Aug 16, 2018, 6:33 pm
#280
Join Date: Apr 2018
Posts: 262
Best Mastercards for plastiq in my opinion are either citi doublecash, Citi or barclays American airlines varieties, barclays arrival varieties, citi thankyou point cards (the att access and more used to be MONEY for plastiq mortgages), or jetblue barclays (to help hit free mosaic status through spend to $40,000 and points of course).
Aug 17, 2018, 6:40 pm
#282
Join Date: Aug 2018
Posts: 2
This was just posted on TPG blog: CIP/Plastiq no longer earning 3x for payment submitted on 08/16 (it did show as pending 3x for payments submitted on 08/15 though)
can anyone please confirm or deny? Was going to make a 11K payment on plastiq with CIP and would like to earn 3x points to offset the fees. Thanks!
can anyone please confirm or deny? Was going to make a 11K payment on plastiq with CIP and would like to earn 3x points to offset the fees. Thanks!
Aug 18, 2018, 6:45 am
#283
Join Date: Dec 2017
Posts: 103
This was just posted on TPG blog: CIP/Plastiq no longer earning 3x for payment submitted on 08/16 (it did show as pending 3x for payments submitted on 08/15 though)
can anyone please confirm or deny? Was going to make a 11K payment on plastiq with CIP and would like to earn 3x points to offset the fees. Thanks!
can anyone please confirm or deny? Was going to make a 11K payment on plastiq with CIP and would like to earn 3x points to offset the fees. Thanks!
Aug 18, 2018, 7:19 am
#284
Join Date: Aug 2018
Posts: 8
This was just posted on TPG blog: CIP/Plastiq no longer earning 3x for payment submitted on 08/16 (it did show as pending 3x for payments submitted on 08/15 though)
can anyone please confirm or deny? Was going to make a 11K payment on plastiq with CIP and would like to earn 3x points to offset the fees. Thanks!
can anyone please confirm or deny? Was going to make a 11K payment on plastiq with CIP and would like to earn 3x points to offset the fees. Thanks!
Anyone confirm this??
Aug 18, 2018, 10:36 am
#285
Join Date: Jul 2010
Location: 718
Programs: Hyatt Globalist, Hilton Diamond, Marriott Platinum, IHG Diamond
Posts: 967
If this is true, we can thank this guy: https://www.cnbc.com/2018/08/16/29-y...n-rewards.html
