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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 Apr 4, 19, 11:13 pm   -   Wikipost
Please read: This is a community-maintained wiki post containing the most important information from this thread. You may edit the Wiki once you have been on FT for 90 days and have made 90 posts.
 
Last edit by: RedSun
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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.

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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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
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.
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Old Aug 8, 18, 9:05 pm
  #256  
 
Join Date: Jul 2007
Posts: 418
Originally Posted by ponickka View Post
Any update or progress on this?

Looking to use the CIP to pay Chase Auto for my car payment. Will this trigger the 3x?

Thanks
So far I have tried Car Loan, College Tuition, Property Taxes and Apartment Rent and all have posted as 3x. However, I always make a payment of $10 first to a new vendor and make sure it posts as 3x before making the larger full payment. You don't have to wait for the statement to close.to find out if you got 3x for that transaction by logging into the chase website and checking once the transaction moves from pending to posted (usually within 48 hours).
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Old Aug 9, 18, 10:02 am
  #257  
 
Join Date: Nov 2013
Posts: 400
Originally Posted by svasandani View Post
So far I have tried Car Loan, College Tuition, Property Taxes and Apartment Rent and all have posted as 3x. However, I always make a payment of $10 first to a new vendor and make sure it posts as 3x before making the larger full payment. You don't have to wait for the statement to close.to find out if you got 3x for that transaction by logging into the chase website and checking once the transaction moves from pending to posted (usually within 48 hours).
Thanks for the data point. For the car loan, have you made "principal" payment or just the monthly payment? Wonder if Plastiq can mark the check(payment) as PRINCIPAL only.
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Old Aug 9, 18, 3:46 pm
  #258  
 
Join Date: Jul 2010
Posts: 106
Originally Posted by ponickka View Post
Thanks for the data point. For the car loan, have you made "principal" payment or just the monthly payment? Wonder if Plastiq can mark the check(payment) as PRINCIPAL only.
There is a ''memo' field that actually gets printed on the check which if the CSR is paying attention should honor. Worst case, you will have to call the biller ahead of time or after you see it posted to corroborate if it was done as you instructed.
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Old Aug 10, 18, 3:27 pm
  #259  
 
Join Date: Apr 2017
Posts: 282
Any insight on maximizing the Masterpass fee free promo? I have 3,000 monthly rent I can pay with Plastiq, so that makes for a good opportunity, especially combined with the MCGC promo at Staples. But curious if any strategy to maximize beyond the rent payment alone. Feel free to PM if you would prefer to discuss privately.
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Old Aug 10, 18, 5:22 pm
  #260  
 
Join Date: Jul 2007
Posts: 418
Originally Posted by ponickka View Post
Thanks for the data point. For the car loan, have you made "principal" payment or just the monthly payment? Wonder if Plastiq can mark the check(payment) as PRINCIPAL only.
In my case it was treated as partial monthly payment first time and subsequently I made full monthly payments.
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Old Aug 11, 18, 7:24 am
  #261  
 
Join Date: Jul 2014
Posts: 322
Originally Posted by brody24 View Post
Any insight on maximizing the Masterpass fee free promo? I have 3,000 monthly rent I can pay with Plastiq, so that makes for a good opportunity, especially combined with the MCGC promo at Staples. But curious if any strategy to maximize beyond the rent payment alone. Feel free to PM if you would prefer to discuss privately.
Lots, I mean lots of opportunity, but those Staples GMC are a pain. You have to register them and then register them to Masterpass and then MS through Plastiq. I do it, but the free points by just using your regular CC is so easy. I know you get 5x points on the gift card, but one entry repating 5x weekly on plastiq is the same amount of points and much easier. You have about 5 weeks left, so just put up as many as you can each day. My only limitiation is my CC limits. The issuer always let me go over my CL but now that I have such high balances on all there cards, they are enforcing the limits. I have to pay quicker.
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Old Aug 12, 18, 12:52 am
  #262  
 
Join Date: Dec 2017
Posts: 326
When using MasterPass with Plastiq, what do you put in the Name slot when adding a prepaid card? Do you put your actual name, or what's actually on the front of the card, in my case "Prepaid Cardholder"? Thanks.
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Old Aug 12, 18, 8:43 am
  #263  
 
Join Date: Jul 2014
Posts: 322
I use my name, (After registering the card in my name )
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Old Aug 12, 18, 10:41 am
  #264  
 
Join Date: Dec 2017
Posts: 326
Thanks. Alas, these are MC I picked up at Sam's Club and the only registration is adding a zip code.
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Old Aug 12, 18, 8:12 pm
  #265  
 
Join Date: Apr 2017
Posts: 282
.....

Last edited by brody24; Aug 12, 18 at 8:14 pm Reason: Duplicative
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Old Aug 12, 18, 8:14 pm
  #266  
 
Join Date: Apr 2017
Posts: 282
Originally Posted by chaser123 View Post
Lots, I mean lots of opportunity, but those Staples GMC are a pain. You have to register them and then register them to Masterpass and then MS through Plastiq. I do it, but the free points by just using your regular CC is so easy. I know you get 5x points on the gift card, but one entry repating 5x weekly on plastiq is the same amount of points and much easier. You have about 5 weeks left, so just put up as many as you can each day. My only limitiation is my CC limits. The issuer always let me go over my CL but now that I have such high balances on all there cards, they are enforcing the limits. I have to pay quicker.
My question is more to how one maximizes given the limited uses of Plastiq. For example, I have 3k rent, but I have no mortgage, no car payments, no student loans. So I'm not sure how to make good use of it aside from prepaying a month of rent (in which case I would need to float the 3k). Maybe PM if there is any insight you would prefer to discuss privately.
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Old Aug 12, 18, 10:23 pm
  #267  
 
Join Date: Mar 2015
Posts: 305
Originally Posted by brody24 View Post
My question is more to how one maximizes given the limited uses of Plastiq. For example, I have 3k rent, but I have no mortgage, no car payments, no student loans. So I'm not sure how to make good use of it aside from prepaying a month of rent (in which case I would need to float the 3k). Maybe PM if there is any insight you would prefer to discuss privately.
I mostly use it for hitting minimum spend requirements. With a mortgage payment and rent, I can basically reach minimum spend in a month for most cards, unless it is one of the cards with $10,000 minimum spend requirement, which would take two months. Yes, there would be a fee paid to Plastiq, but the sign up bonuses are worth it. I don't have to worry about running around and making purchases and tracking all that. I don't use it without a card lined up for minimum spend, since in most situations the fees negate the returns. Not the most efficient return, but one of those costs people don't account for is all the time and gas spent driving back and forth if they are doing MS. I definitely don't have time for all that, so Plastiq is a great way for me to meet minimum spend organically without ever leaving my home.
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Old Aug 13, 18, 12:43 pm
  #268  
 
Join Date: Jul 2014
Posts: 180
Just stumbled onto this as I was trying to look for ways to get some rewards for paying off my student loan ($~10K) .. if I am reading this right you can potentially buy MCGC on OBC and then use plastiq to pay using masterpass promo and incur no additional fees after GC purchase as long as each payment is under $250??
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Old Aug 13, 18, 1:05 pm
  #269  
 
Join Date: Aug 2018
Posts: 6
Originally Posted by Klemhuzzah View Post
Thanks. Alas, these are MC I picked up at Sam's Club and the only registration is adding a zip code.
Are these the $500 or the $200 ones?
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Old Aug 13, 18, 3:19 pm
  #270  
 
Join Date: Jul 2010
Posts: 106
Originally Posted by neony77 View Post
Just stumbled onto this as I was trying to look for ways to get some rewards for paying off my student loan ($~10K) .. if I am reading this right you can potentially buy MCGC on OBC and then use plastiq to pay using masterpass promo and incur no additional fees after GC purchase as long as each payment is under $250??
Careful w/ AMEX. I recently did just 2 separate purchases of discounted MCGCs @ Staples with a triple stack (10% AM3X offer, 5% usual SimplyCash Biz @ office stores, $10 RMN) and they fraud alerted the day after, so it's not like it was automated it didn't seem like... sounded more like a manual review. No ?s asked about purchases, but Staples does send Level 3 data, so if the merchant you buy these from sends that, beware the RAT team. Other than getting AA from your credit card issuer, (or maybe your receiving institution, but that's more rare) yes, it should work just fine. If making many payments, make them each slightly different dollar amount to make it easier in case one doesn't get credited.
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