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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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)
Oct 11, 2018, 4:13 pm
#376
Join Date: Dec 2004
Location: SFO
Programs: BART Platinum, AA Plat Pro
Posts: 1,158
A lot of Plastiq payments code as "Utilities", so I'm guessing that Huntington Voice Business might earn 4% (on up to $7k/quarter, or $28k/year). Of course, you'd have to live near a Huntington branch. My mortgages all code as "Misc Gov Payments" these days, and everything else codes as Utilities.
Oct 11, 2018, 4:43 pm
#377
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
A lot of Plastiq payments code as "Utilities", so I'm guessing that Huntington Voice Business might earn 4% (on up to $7k/quarter, or $28k/year). Of course, you'd have to live near a Huntington branch. My mortgages all code as "Misc Gov Payments" these days, and everything else codes as Utilities.
Well, you can earn 5% on up to $2000 in Utilities each quarter (you have to reselect it every quarter) as one of your quarterly 5% earning options with the US Bank Cash Plus Visa card. (It has a bunch of categories to choose from that you can 5% from, of which you can choose two each quarter, and then there's additional categories you can earn 2% on, but those heavily overlap with other cards.)
https://mycard.usbank.com/credit/mycardusb/html/usbank_cash_plus_visa.html?redirect=cashplus&lang= en
And you can live anywhere in the USA to apply for it.
But keep in mind that Visa works in fewer categories on Plastiq than MasterCard does (last I heard).
US Bank only started the Utilities category earlier this year (switching it from Bookstores), so I can't guarantee that they'll have it forever, but they've had it for two or three quarters in a row now.
Someone with that card would have verify if Plastiq posting as Utilities does indeed earn 5% back with that card, on a category for which Visa works on Plastiq. (I've only used my USB Cash+ card for actual Utilities only once, and don't have any Plastiq payments coming up for half a year, and in any case the only ones I do, each spring -- to AAA Socal for insurance -- , i don't think post as Utilities to MC or Amex, but I've never used Visa for it successfully. [I tried using Visa for it earlier this year but was declined because I had lowered my Visa cashback limit to near $0, and Plastiq was doing an authorization test of 20% of the cashback limit at the time.])
Plus it depends on how much you spend on Plastiq charges quarterly whether the $2000/quarter limit would "hurt" or not.
Oct 14, 2018, 9:50 pm
#379
Join Date: Dec 2004
Location: SFO
Programs: BART Platinum, AA Plat Pro
Posts: 1,158
In general I think the optimal strategy is to simply make as many payments as you can during the promo period, deductible or otherwise. The only exceptions would be if you have a non-MC card that earns significantly more than 2% on Plastiq (AmEx BBP is the only one that jumps to mind) or if it’s just going to take you a long time to go through the FFDs.
Oct 15, 2018, 3:53 pm
#381
Join Date: Jan 2007
Posts: 6
Problems with MB VGC?
Is anyone suddenly getting rejected for payments with VGC? I got a card at the grocery store and it looks like it is being declined by Visa for payees that I've paid before. There doesn't seem to be a way to talk to a person in customer service for the GC. Any suggestions?
Oct 15, 2018, 10:39 pm
#382
Join Date: Dec 2004
Location: SFO
Programs: BART Platinum, AA Plat Pro
Posts: 1,158
Oct 25, 2018, 7:45 pm
#384
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Barclay has sent a promotion to use the Uber card to pay at least $5,000 at 2.5% fee and receive 10,000 Uber bonus points. The points are worth $100, less than the $125 Plastiq Fee. But is is $150 if the base spending is included. Total 15,000 points. So from the exercise, you get $25 plus one credit card grace period.....
Oct 30, 2018, 10:43 am
#386
Join Date: Aug 2015
Posts: 7
Plastiq no longer good? Any other service?
I saw that Plastiq is now treating most Visa's as a cash advance now. I used to pay my rent with Plastiq and it would meet my min spend in 1-2 payments. This effectively kills it as a way to gen spend. Are there any other services like this? I could not find anything when I googled it.
Cheers!
Cheers!
Oct 30, 2018, 11:11 am
#387
Join Date: Mar 2008
Posts: 1,535
This may not be cost effective, but I *think* Plastiq accepts pre-paid cards (or so their website says):
" We are proud to accept all credit, debit, gift, and pre-paid cards with the following brands: "
You could buy pre-paid MasterCard's on your visa card, then use the pre-paid MC via Plastiq.
However, you'll pay the pre-paid card activation fee (sometimes there are sales, etc., check the Manufactured Spend forum).
" We are proud to accept all credit, debit, gift, and pre-paid cards with the following brands: "
You could buy pre-paid MasterCard's on your visa card, then use the pre-paid MC via Plastiq.
However, you'll pay the pre-paid card activation fee (sometimes there are sales, etc., check the Manufactured Spend forum).
Oct 31, 2018, 12:53 am
#388
Join Date: Dec 2017
Posts: 463
I saw that Plastiq is now treating most Visa's as a cash advance now. I used to pay my rent with Plastiq and it would meet my min spend in 1-2 payments. This effectively kills it as a way to gen spend. Are there any other services like this? I could not find anything when I googled it.
Oct 31, 2018, 12:57 am
#389
Join Date: Dec 2017
Posts: 463
I think the OP is trying to meet min spend on visa cards, and Plastiq/rent is just his chosen method. By buying pre-paid cards with his new visa, then it all comes down to whether the CC counts buying GC against min spend requirements.
Oct 31, 2018, 8:29 am
#390
Join Date: Mar 2008
Posts: 1,535
Citi apparently doesn't care.
Not sure about Chase or US Bank.