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Plastiq for rent, tuition, utilities, etc.(2018 onwards)

Plastiq for rent, tuition, utilities, etc.(2018 onwards)

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Old Jun 23, 19, 5:40 pm   -   Wikipost
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Last edit by: weezl
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This is the thread for 2018. The previous discussion can be found here.

Updated Nov-2018: A lot of the personal Visa CCs are out at Plastiq. They 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:
https://help.plastiq.com/hc/en-us/ar...l-Card-Changes

Plastiq Fees:
The standard Plastiq fee is 2.5%. 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.

Sometimes, special bonuses are available, check here or your email for these (example: This month only, submit up to three payments ($10,000 or less each) and benefit from a 1.5% Plastiq fee)

Plastiq Referrals:
Standard Referral: When you refer your friend to Plastiq, after your friend charges $500 or more, your friend will get $500 FFDs (fee free dollar) and you'll receive $1,000 FFDs to spend.

Successful Credit Cards Used (Posted as Purchase, Visa info outdated)
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.
"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
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Old Jun 21, 18, 12:31 pm
  #181  
 
Join Date: Sep 2017
Posts: 254
So if I have the CF, CFU, AMEX HH & CIC none of these cards would be accepted with plastiq for mortgage payments?
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Old Jun 21, 18, 5:06 pm
  #182  
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Originally Posted by Caribgrl View Post
So if I have the CF, CFU, AMEX HH & CIC none of these cards would be accepted with plastiq for mortgage payments?
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...
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Old Jun 24, 18, 5:21 pm
  #183  
 
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Has anyone used Plastiq to fund 529 accounts? i.e. sending paper checks to the state's 529 service? Thanks!
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Old Jun 24, 18, 6:07 pm
  #184  
 
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Originally Posted by jk77341 View Post
Has anyone used Plastiq to fund 529 accounts? i.e. sending paper checks to the state's 529 service? Thanks!
I tried it once back in 2016. They quickly canceled the payment and informed me it was not a supported payment type.
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Old Jun 25, 18, 3:45 am
  #185  
 
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Originally Posted by sdsearch View Post
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...
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.
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Old Jun 25, 18, 8:01 am
  #186  
 
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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
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Old Jun 25, 18, 11:27 am
  #187  
 
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Originally Posted by Caribgrl View Post
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.
There are Citi AAdvantage MC cards. You can use Plastiq to meet MSR for those cards, even if you don't plan to continue using them. The Citi TY cards are also MC. There are definitely options out there, whether or not they are worth it are dependent on your situation. I might consider getting the Citi TY cards again, personally, after meeting MSR for all the cards I have open right now, even though I didn't find the TYP program as strong as AMEX MR or Chase UR.
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Old Jun 25, 18, 11:30 am
  #188  
 
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I noticed that too. Same with my car payments. Luckily I scheduled my car payments out a couple years in advance and those are still processing, but I only have a couple months scheduled for the mortgage and still seem to be working.
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Old Jun 25, 18, 11:39 am
  #189  
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Finally got may Chase Ink Preferred.
Was planning on using it to fund Plastiq Payroll. Is this card still getting 3x on payroll??
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Old Jun 25, 18, 6:28 pm
  #190  
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Originally Posted by Caribgrl View Post
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.
As eccentricfusion ,mentioned, AA cards from either Barclay or Citi, as well as the ThankYou Points program from Citi. The thing is, the ThankYou points program doesn't support any of the major domestic airlines (only JetBlue domestically), so you have to get familiar with foreign airlines to use it. And unlike other programs, cancelling a card in Citi TYP makes those points go poof after 60 days, no matter what other Cit TYP cards you have, because CIti keeps track of which card you earned every TYP point with, even as you transfer those points around between cards. So be careful to choose a TYP card that you're not going to want to cancel until you transfer those points. But beware, most of TYPs partner airilnes (with just a few exceptions) have nasty "hard expiration" policies, so you don't want to just "park" your points at a random foreign airline if you're not sure you'll use them soon.

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, 18 at 6:37 pm
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Old Jun 25, 18, 9:05 pm
  #191  
 
Join Date: Sep 2017
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Thanks for all the info...will be rereading and computing..lol. But it's funny because in the past couple weeks I got offers from Barclay and Citi.
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Old Jun 27, 18, 8:16 pm
  #192  
 
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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...
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Old Jul 1, 18, 2:50 am
  #193  
 
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Originally Posted by zzrayzz View Post
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
I made a tax payment a few days ago to CIP and it coded as 3x so while it does seem like they're clamping down on, there are some areas that are still green light. I've got massive amounts of (check only) business expenses that i'm pumping thru the CIP although I'm still proceeding with caution. The gravy train could be over any day due to the blogger buying a tesla using his CIP. Would be awesome if I can hit the $150k in Plastiq charges for the CIP

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
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Old Jul 4, 18, 11:17 am
  #194  
 
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Does Ink Cash get a bonus on plastic?
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Old Jul 4, 18, 3:23 pm
  #195  
 
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Originally Posted by beachfan View Post
Does Ink Cash get a bonus on plastic?
Nope -- only Ink Preferred triggers 3x UR pts
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