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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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)
Jun 8, 2018, 10:14 am
#168
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
You earn no points/miles/cashback/anything on cash advances, so why in the world would any FTer want to have a Plastiq payment on their own card show up as a cash advance? 
I've sent off an email to Plastiq to try to get them to explain themselves. The link above claimed that Plastiq would warn us if the transaction was going to be processed as a cash advance, but they did no such thing, they only told me that it might be limited to 20% of my credit limit, but nothing about a cash advance. So IMHO this is sneaky and misleading and wrong: Plastiq should be not doing cash advance without saying so (or at least warning of the possibility) and giving me the chance to back out.
Jun 11, 2018, 12:48 pm
#169
Join Date: Jul 2014
Posts: 369
Actually, it was declined, but when I called Chase, Chase said it was submitted by Plastiq as a cash advance (not submitted as a purchase) and that's why it was declined! And they told me that if I'd had a higher cash advance limit, it would have gone through and posted as a cash advance, not as a purchase! You earn no points/miles/cashback/anything on cash advances, so why in the world would any FTer want to have a Plastiq payment on their own card show up as a cash advance?
I've sent off an email to Plastiq to try to get them to explain themselves. The link above claimed that Plastiq would warn us if the transaction was going to be processed as a cash advance, but they did no such thing, they only told me that it might be limited to 20% of my credit limit, but nothing about a cash advance. So IMHO this is sneaky and misleading and wrong: Plastiq should be not doing cash advance without saying so (or at least warning of the possibility) and giving me the chance to back out.
You earn no points/miles/cashback/anything on cash advances, so why in the world would any FTer want to have a Plastiq payment on their own card show up as a cash advance? I've sent off an email to Plastiq to try to get them to explain themselves. The link above claimed that Plastiq would warn us if the transaction was going to be processed as a cash advance, but they did no such thing, they only told me that it might be limited to 20% of my credit limit, but nothing about a cash advance. So IMHO this is sneaky and misleading and wrong: Plastiq should be not doing cash advance without saying so (or at least warning of the possibility) and giving me the chance to back out.
Jun 11, 2018, 4:25 pm
#170
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
Try a $10.00 payment. I bet you it goes into pending transaction as cash advance and posts as a purchase. I have this happen to me on several quasi cash purchases with chase. Chase has some weird glitch in their system, as if it knows the charge should be a cash advance but posts as a purchase. This used to always happen on the Visa Buxx loads with chase. You would make a purchase and it would go against your cash advance line but 2 days later when it posts , it would always post as a purchase. I would try myself but I am currently using the masterpass promtion.
But they also say that this cash advance authoriization garbage is temporary (so temporary that that's why they're not necessarily going to work on documenting it any better, despite admitting that the 20% stuff is not good documentation). What is going to happen after this "temporary" phase ends, I don't know, but I don't think it's worth running experiments on something that's temporary, if you don't need a temporary way around it.
In my case, I gave up on using the Marriott personal Visa because it turns out I'm going to meet the minimum spend easier than I thought even without this payment.
So I'm also now using the MasterPass promo (on a card that gives me some extra points each month from a retention promo), since I have to make the payment before I could apply for and get any other MasterCard or business Visa that gave a signup bonus with minimum spend; (They already told me that this payee doesn't work with Amex currently, even though it worked with Amex a year ago, and that's why Amex is not possible either.)
Last edited by sdsearch; Jun 11, 2018 at 4:30 pm
Jun 12, 2018, 12:01 am
#171
Join Date: Dec 2007
Posts: 118
What is the current play on Plastiq, especially for mortgage payments? I did circa 200k in payments via Plastiq in 2017, but for the second half of 2018 I might hit $0.
- No more Citi AT&T @ 3x TY
- No BofA Premium Rewards @ 2.625% cash, because Visa is a cash advance and only Mastercard for mortgages
- No current promos to lessen the effective fee
Jun 12, 2018, 1:54 pm
#173
Join Date: Apr 2008
Posts: 615
What is the current play on Plastiq, especially for mortgage payments? I did circa 200k in payments via Plastiq in 2017, but for the second half of 2018 I might hit $0.
- No more Citi AT&T @ 3x TY
- No BofA Premium Rewards @ 2.625% cash, because Visa is a cash advance and only Mastercard for mortgages
- No current promos to lessen the effective fee
CIP>Mortgage still works for some. Not many left.
Jun 12, 2018, 1:55 pm
#174
Join Date: Jun 2018
Posts: 1
What is the current play on Plastiq, especially for mortgage payments? I did circa 200k in payments via Plastiq in 2017, but for the second half of 2018 I might hit $0.
- No more Citi AT&T @ 3x TY
- No BofA Premium Rewards @ 2.625% cash, because Visa is a cash advance and only Mastercard for mortgages
- No current promos to lessen the effective fee
Jun 12, 2018, 9:49 pm
#175
Join Date: Dec 2007
Posts: 118
Great suggestion! I forgot about this product! If they ever add a signup bonus or drop the $150 fee it becomes compelling. I still think BofA Travel rewards in the top tier probably exceeds it.
Jun 13, 2018, 12:46 pm
#177
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
So it uses the default card you have set up in MasterPass, but you have to go to MasterPass, not to Plastiq, to figure out which card is your MasterPass default card.
All Plastiq knows is that you're using MasterPass, not what card you have in MasterPass.
Jun 13, 2018, 5:21 pm
#179
Join Date: Jan 2013
Programs: Hyatt Glb, MR Plat
Posts: 2,577
When you use MasterPass on Plastiq it doesn't show your actual card number. It shows a MasterPass-generated card number. In my case it shows me a card number ending in 9xxx, whereas my actual card ends in 3xxx. But my actual card did get charged (on two separate 4250 charges minutes apart, which both waived the fee due the promo, since I actually wanted to charge $500 but the payee lets me do separate smaller charges and $250 is Plastiq's limit per transaction for the MasterPass promo).
So it uses the default card you have set up in MasterPass, but you have to go to MasterPass, not to Plastiq, to figure out which card is your MasterPass default card.
All Plastiq knows is that you're using MasterPass, not what card you have in MasterPass.
So it uses the default card you have set up in MasterPass, but you have to go to MasterPass, not to Plastiq, to figure out which card is your MasterPass default card.
All Plastiq knows is that you're using MasterPass, not what card you have in MasterPass.
Jun 17, 2018, 7:08 pm
#180
Suspended
Join Date: Sep 2014
Posts: 350
When you use MasterPass on Plastiq it doesn't show your actual card number. It shows a MasterPass-generated card number. In my case it shows me a card number ending in 9xxx, whereas my actual card ends in 3xxx. But my actual card did get charged (on two separate 4250 charges minutes apart, which both waived the fee due the promo, since I actually wanted to charge $500 but the payee lets me do separate smaller charges and $250 is Plastiq's limit per transaction for the MasterPass promo).
So it uses the default card you have set up in MasterPass, but you have to go to MasterPass, not to Plastiq, to figure out which card is your MasterPass default card.
All Plastiq knows is that you're using MasterPass, not what card you have in MasterPass.
So it uses the default card you have set up in MasterPass, but you have to go to MasterPass, not to Plastiq, to figure out which card is your MasterPass default card.
All Plastiq knows is that you're using MasterPass, not what card you have in MasterPass.