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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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)
Sep 23, 2018, 9:19 pm
#361
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Why we keep repeating the same thing? Apparently Plastiq changed something. The program is ending, period....
Oct 1, 2018, 8:04 pm
#363
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Oct 1, 2018, 8:29 pm
#364
Join Date: Jul 2017
Programs: UR, Marriott, AA, WN, Chick Fil A Red
Posts: 182
Oct 2, 2018, 12:39 pm
#365
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
So your question should be whether there any MC that give 3% of higher back for Plastiq when used for mortgage. (If someone gets 3% when Plastiq is used for something else but only because that something else codes differently, then that won't help you, will it?)
AFAIK, barring mistakes (which seem to have how people got 3x before), there is no card that offers 3x or more on mortgage. So your best bet would be highest "normal" cashback card you can find. It's easy to find a 2% cashback (Citi DoubleCash), cards that give more than 2% on everything are harder to find but they exist. But whether any MC has high enough cashback to completely offset Plastiq's normal fee, that I don't know.
The other way is to find a card that gives points you can redeem for airline flights, that gives 2 points per dollar and you view the airline redemption as being valued at a teast 2 cents per point. When doing such redemptions, the combination of a 2x earning and redeeming at 2+ cents per dollar would be the equivalent of 4% cashback. But only if that's how you redeem those point. (There's no other use for those points that gets as high a value as "saver" award redemptions on cash-costly routes. But those are far from always available, so you have to skilled at airline award redemptions to get good value out of redeemable points.)
The Amex Blue Business Plus card earns 2x Membership Rewards points per dollar on the first $50k purchases each year, and Membership Rewards points can be transferred to a variety of airlines, so that's one possibility (if your Plastiq payments are under $50k a year). But it would take some learning on which airline to transfer to (some have way worse expiration policies than others) and how to best redeem, if you haven't used transferable points before.
Oct 2, 2018, 8:04 pm
#366
Join Date: Jul 2017
Programs: UR, Marriott, AA, WN, Chick Fil A Red
Posts: 182
It may classify as mortgage in your case, but it doesn't always classify as mortgage. It depends who you're paying.
So your question should be whether there any MC that give 3% of higher back for Plastiq when used for mortgage. (If someone gets 3% when Plastiq is used for something else but only because that something else codes differently, then that won't help you, will it?)
AFAIK, barring mistakes (which seem to have how people got 3x before), there is no card that offers 3x or more on mortgage. So your best bet would be highest "normal" cashback card you can find. It's easy to find a 2% cashback (Citi DoubleCash), cards that give more than 2% on everything are harder to find but they exist. But whether any MC has high enough cashback to completely offset Plastiq's normal fee, that I don't know.
The other way is to find a card that gives points you can redeem for airline flights, that gives 2 points per dollar and you view the airline redemption as being valued at a teast 2 cents per point. When doing such redemptions, the combination of a 2x earning and redeeming at 2+ cents per dollar would be the equivalent of 4% cashback. But only if that's how you redeem those point. (There's no other use for those points that gets as high a value as "saver" award redemptions on cash-costly routes. But those are far from always available, so you have to skilled at airline award redemptions to get good value out of redeemable points.)
The Amex Blue Business Plus card earns 2x Membership Rewards points per dollar on the first $50k purchases each year, and Membership Rewards points can be transferred to a variety of airlines, so that's one possibility (if your Plastiq payments are under $50k a year). But it would take some learning on which airline to transfer to (some have way worse expiration policies than others) and how to best redeem, if you haven't used transferable points before.
So your question should be whether there any MC that give 3% of higher back for Plastiq when used for mortgage. (If someone gets 3% when Plastiq is used for something else but only because that something else codes differently, then that won't help you, will it?)
AFAIK, barring mistakes (which seem to have how people got 3x before), there is no card that offers 3x or more on mortgage. So your best bet would be highest "normal" cashback card you can find. It's easy to find a 2% cashback (Citi DoubleCash), cards that give more than 2% on everything are harder to find but they exist. But whether any MC has high enough cashback to completely offset Plastiq's normal fee, that I don't know.
The other way is to find a card that gives points you can redeem for airline flights, that gives 2 points per dollar and you view the airline redemption as being valued at a teast 2 cents per point. When doing such redemptions, the combination of a 2x earning and redeeming at 2+ cents per dollar would be the equivalent of 4% cashback. But only if that's how you redeem those point. (There's no other use for those points that gets as high a value as "saver" award redemptions on cash-costly routes. But those are far from always available, so you have to skilled at airline award redemptions to get good value out of redeemable points.)
The Amex Blue Business Plus card earns 2x Membership Rewards points per dollar on the first $50k purchases each year, and Membership Rewards points can be transferred to a variety of airlines, so that's one possibility (if your Plastiq payments are under $50k a year). But it would take some learning on which airline to transfer to (some have way worse expiration policies than others) and how to best redeem, if you haven't used transferable points before.
Oct 4, 2018, 4:25 pm
#367
Join Date: Oct 2010
Location: Feeder Band Land (South FL)
Programs: seeking best cc sign-up & spend bonus offers
Posts: 865
Have just learned of Plastiq today.
Someone sent me:
"Sign up for Plastiq with my referral link and for every $1,000 in payments you make on Plastiq you'll receive $1,000 in Fee Free Dollars, which means you'll be able to make $1,000 in payments without paying Plastiq's 2.5% fee"
In last couple pages of this thread I am learning of 9/30 deadline related to fee-free offer.
Does this mean the $1K fee free on $1K Plastiq spend is over & link I got is useless?
If its not, does "for every $1K in payments on Plastiq...$1K in Fee Free Dollars"
(AKA no 2.5% fee??)
mean it can be repeated over & over unlimited times?
May buy condo for $XXXK all cash in next month or so, my individual cc cred lim is $30K,
if I send $XXXK check to cc bank so I show $XXXK credit,
could they then handle a $XXXK cc charge
processed by Plastiq & would there be no 2.5% fee???
Sorry for the newbiest of newbie questions, but...
Someone sent me:
"Sign up for Plastiq with my referral link and for every $1,000 in payments you make on Plastiq you'll receive $1,000 in Fee Free Dollars, which means you'll be able to make $1,000 in payments without paying Plastiq's 2.5% fee"
In last couple pages of this thread I am learning of 9/30 deadline related to fee-free offer.
Does this mean the $1K fee free on $1K Plastiq spend is over & link I got is useless?
If its not, does "for every $1K in payments on Plastiq...$1K in Fee Free Dollars"
(AKA no 2.5% fee??)
mean it can be repeated over & over unlimited times?
May buy condo for $XXXK all cash in next month or so, my individual cc cred lim is $30K,
if I send $XXXK check to cc bank so I show $XXXK credit,
could they then handle a $XXXK cc charge
processed by Plastiq & would there be no 2.5% fee???
Sorry for the newbiest of newbie questions, but...
Oct 4, 2018, 7:24 pm
#369
Join Date: Dec 2017
Posts: 463
The deal for referral links that I'm familiar with is that after you spend $500 on Plastiq and pay the fee, you can then spend another $500 without fee and your friend would get to spend a $1000 without a fee. But you only get $500 fee free once and cannot be repeated no matter how much you spend. Having said that, Plastiq is always running different specials, so your friend's deal may actually be different than the usual deal.
FWIW, the $500 in fee free dollars does not need to be one payment, it can be spread over multiple payments. And if you do make one payment for more than $500, the first $500 of the charge would be fee free and the remaining would get stuck with a fee.
Good luck!
Oct 7, 2018, 11:40 pm
#372
Join Date: Nov 2010
Location: Washington, DC
Posts: 393
Late rent payment!
Rent payment sent out (per Plastiq email) on Sept 18. As of Oct 5, my rental office claims to have not received it. To avoid late payment (and fee), I submitted a payment via ACH direct through rental company's website. So, double payment I have submitted. In 2+ years of using them, I've never had a problem with Plastiq being late for my rental payment. Is something going on with them?
Oct 8, 2018, 3:18 pm
#373
Join Date: Jan 2013
Programs: Hyatt Glb, MR Plat
Posts: 2,577
Rent payment sent out (per Plastiq email) on Sept 18. As of Oct 5, my rental office claims to have not received it. To avoid late payment (and fee), I submitted a payment via ACH direct through rental company's website. So, double payment I have submitted. In 2+ years of using them, I've never had a problem with Plastiq being late for my rental payment. Is something going on with them?
Oct 11, 2018, 9:45 am
#374
Join Date: Jul 2017
Programs: UR, Marriott, AA, WN, Chick Fil A Red
Posts: 182
Plastiq must have noticed a drop off in payments being scheduled for some reason 
. I received an email today for an offer to receive fee free dollars by scheduling payments with a MasterCard. $1 payment with MC(with fee) earns a fee-free dollar (doesn’t appear to need to be a MC.)
. I received an email today for an offer to receive fee free dollars by scheduling payments with a MasterCard. $1 payment with MC(with fee) earns a fee-free dollar (doesn’t appear to need to be a MC.)
Oct 11, 2018, 9:55 am
#375
Join Date: Jan 2014
Posts: 286
Plastiq must have noticed a drop off in payments being scheduled for some reason . I received an email today for an offer to receive fee free dollars by scheduling payments with a MasterCard. $1 payment with MC(with fee) earns a fee-free dollar (doesn’t appear to need to be a MC.)
. I received an email today for an offer to receive fee free dollars by scheduling payments with a MasterCard. $1 payment with MC(with fee) earns a fee-free dollar (doesn’t appear to need to be a MC.)