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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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 21, 2018, 5:06 pm
#182
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,932
https://www.flyertalk.com/forum/29578028-post76.html
So to anyone actually trying to pay mortgage monthly, this would presumably not be news by now.
Anyway, none of the cards you mentioned would work because they're either Chase Visa cards or Amex cards. You have to use an MC or Discover for mortgage.
But on the bright side, if you do have an MC, you can presumably make mortgage payments fee-free for another month or two by using MasterPass if you can pay in multiple $250-or-less separate payments. So in that case you don't have to worry as much about how much the card earns, you'll earn something net positive if there's no Plastiq fee to pay.
IOTW, MasterPass with a 1x card may earn you more than Visa would would with a 3x card (after the 2.5% Plastiq fee).
But of course, the ban on Visa and Amex for mortgages is likely to continue longer than the MasterPass promo...
Jun 24, 2018, 6:07 pm
#184
Join Date: Dec 2004
Location: SFO
Programs: BART Platinum, AA Plat Pro
Posts: 1,158
Jun 25, 2018, 3:45 am
#185
Join Date: Sep 2017
Posts: 332
Apparently so, except that it's apparently been that case officially for at least 3 months or so:
https://www.flyertalk.com/forum/29578028-post76.html
So to anyone actually trying to pay mortgage monthly, this would presumably not be news by now.
Anyway, none of the cards you mentioned would work because they're either Chase Visa cards or Amex cards. You have to use an MC or Discover for mortgage.
But on the bright side, if you do have an MC, you can presumably make mortgage payments fee-free for another month or two by using MasterPass if you can pay in multiple $250-or-less separate payments. So in that case you don't have to worry as much about how much the card earns, you'll earn something net positive if there's no Plastiq fee to pay.
IOTW, MasterPass with a 1x card may earn you more than Visa would would with a 3x card (after the 2.5% Plastiq fee).
But of course, the ban on Visa and Amex for mortgages is likely to continue longer than the MasterPass promo...
https://www.flyertalk.com/forum/29578028-post76.html
So to anyone actually trying to pay mortgage monthly, this would presumably not be news by now.
Anyway, none of the cards you mentioned would work because they're either Chase Visa cards or Amex cards. You have to use an MC or Discover for mortgage.
But on the bright side, if you do have an MC, you can presumably make mortgage payments fee-free for another month or two by using MasterPass if you can pay in multiple $250-or-less separate payments. So in that case you don't have to worry as much about how much the card earns, you'll earn something net positive if there's no Plastiq fee to pay.
IOTW, MasterPass with a 1x card may earn you more than Visa would would with a 3x card (after the 2.5% Plastiq fee).
But of course, the ban on Visa and Amex for mortgages is likely to continue longer than the MasterPass promo...
Jun 25, 2018, 8:01 am
#186
Join Date: Jul 2010
Location: 718
Programs: Hyatt Globalist, Hilton Diamond, Marriott Platinum, IHG Diamond
Posts: 966
Chase Ink Preferred = R.I.P ? unable to make any of my mortgage payments to banks today. First time seeing that popup that basically says no Visa. Use a MC or Discover
Jun 25, 2018, 11:27 am
#187
Join Date: Mar 2015
Posts: 482
The only MasterCards I do have are the ones that were once store cards such as Sears Toys r Us and Walmart. And I'm assuming these are not the right cards for a mortgage payment in conjunction with plastiq. Even if they may be I'm not sure I'd even want to use them as I'm only looking to collect points for travel. So what is the right MC card to have for this . Just trying to get an understanding of how I can make paying my mortgage contribute to travel points.
Jun 25, 2018, 11:39 am
#189
FlyerTalk Evangelist
Join Date: Nov 2007
Location: Denver • DEN-APA
Programs: AF Platinum, EK Gold, AA EXP, UA 1K, Hyatt Globalist
Posts: 21,593
Finally got may Chase Ink Preferred.
Was planning on using it to fund Plastiq Payroll. Is this card still getting 3x on payroll??
Was planning on using it to fund Plastiq Payroll. Is this card still getting 3x on payroll??
Jun 25, 2018, 6:28 pm
#190
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,932
The only MasterCards I do have are the ones that were once store cards such as Sears Toys r Us and Walmart. And I'm assuming these are not the right cards for a mortgage payment in conjunction with plastiq. Even if they may be I'm not sure I'd even want to use them as I'm only looking to collect points for travel. So what is the right MC card to have for this . Just trying to get an understanding of how I can make paying my mortgage contribute to travel points.
But none of these cards are likely to earn 2x or 3x on TYP going forward, so they're not necessarily going to work well after the MasterPass promotion expires. IMHO, without something like the MasterPass promotion waiving Plastiq fees, Plastiq is only worth using (now that hardly any cards give 2x or 3x with it) on whichever card you're trying to do the minimum purchases at the moment to get a signup bonus, which is going to be a different card every few months by definition. I doubt it's going to be profitable to use one MC on an ongoing basis (and thus at 1x earning) beyond the MasterPass promo.
Remember, without the MasterPass promo, the normal Plastiiq fee is 2.5%. There's no way you can earn travel rewards without losing money using a 1x card with that kind of a fee! But 2x and 3x cards with Plastiq on MCs may be a thing of the past. Yet they're what caused all the buzz about using Plastiq in this forum. So Plastiq as a way to earn travel points profitably on paying mortgages may be all in the past? (Certain other types of payments, like residential rent, may still work for Visa, but not mortgage.)
Last edited by sdsearch; Jun 25, 2018 at 6:37 pm
Jun 27, 2018, 8:16 pm
#192
Join Date: Jul 2014
Location: JRF
Programs: AA Gold, Marriott Platinum, Hilton Diamond, National Executive Elite
Posts: 1,784
For those of us paying back Canadian student loans, has MBNA and/or BMO been posting as purchases? Just realized Amex is not allowed for this type of payment in Canada...
Jul 1, 2018, 2:50 am
#193
Join Date: May 2006
Location: KSNA/KLAX
Programs: IML GOLD, Bonvoy LTPE, WOH Globalist, AAEXPLT
Posts: 645
Meanwhile, still taking advantage of the Masterpass $250 fee free promo, but its actually a HUGE pain for both me and vendor alike to be receiving stacks of $250 checks
