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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 27, 19, 4:54 am   -   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 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:
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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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 Oct 31, 18, 9:10 am
  #391  
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Originally Posted by Iam Gmartin View Post
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.
You get some DPs for this? I know Plastiq has had some changes for Visa CCs, but only on some. You just need to allocate enough credit (like 20% of CL) with the CCs. You do not want to spend close to CL anyhow.
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Old Nov 3, 18, 5:38 pm
  #392  
 
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anyone have successfully paid with vgc? I tried fb vgc, and a regular vgc, it all didn't go through. mgc is good.
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Old Nov 3, 18, 5:56 pm
  #393  
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Originally Posted by st0ne View Post
anyone have successfully paid with vgc? I tried fb vgc, and a regular vgc, it all didn't go through. mgc is good.
Better to use CCs. So you can get some rewards.
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Old Nov 4, 18, 6:48 am
  #394  
 
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I received a couple of e-mails concerning becoming a "Plastiq Private Client." Is anyone doing this?

Thank you for trusting Plastiq with your crucial payments. Your payment activity indicates that you're on your way to becoming one of our premier clients.

Our Private Clients receive many benefits:
  1. Dedicated account support
  2. Credit card recommendations
  3. Guidance on expedited and international payments
  4. Select promotional offers
  5. Intros to our high limit, high rewards card issuer contacts
  6. Review volume discounts (limited to $100k/month spenders)
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Old Nov 4, 18, 7:21 am
  #395  
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Originally Posted by sechs View Post
I received a couple of e-mails concerning becoming a "Plastiq Private Client." Is anyone doing this?
I would not want to use Plastiq on a regular basis. So no $100k/month. It is worth it when there is any promotion.

Even the most recent Mastercard 1:1 FD offer works well for me. I used the 2% Citi DC card paid at regular 2.5% fee. I come out positive above the 1.25% average fee. Then I used a CC earning 1.5% to meet the spending requirement. It is $10,000 and hard to meet with regular spending. And all of this can be done at your PC and you do not need to go to WM....
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Old Nov 4, 18, 8:37 am
  #396  
 
Join Date: Nov 2010
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Plastiq has been very late with my last 2 rent payments. The first one was over 2 weeks late and the latest is already a week late. (I've made the transactions on the 14th and 19th of the month the last 2 times, to arrive by the 29th. They've both been VERY late. Luckily, my rental company is understanding and works with me to avoid late fees.)

I've used Plastiq successfully for a couple of years now and have never had a problem. Any known issues I'm not aware of ?? Thanks
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Old Nov 10, 18, 7:08 pm
  #397  
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Can someone help explain the current (Chase) Visa card policy?

Payments made through Plastiq may be subject to a lower cash advance limit (typically ~20% of your total card limit). Your transaction will otherwise be treated with full rewards, and not incur any additional fees.

If my credit line is $10,000, 20% of it will be $2,000. But if I already using 20% of the CL? Can I still submit like $1,000 payment, or I can't do any more payment since I'm already at 20% of the CL?
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Old Nov 11, 18, 12:27 pm
  #398  
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Originally Posted by RedSun View Post
Can someone help explain the current (Chase) Visa card policy?

Payments made through Plastiq may be subject to a lower cash advance limit (typically ~20% of your total card limit). Your transaction will otherwise be treated with full rewards, and not incur any additional fees.

If my credit line is $10,000, 20% of it will be $2,000. But if I already using 20% of the CL? Can I still submit like $1,000 payment, or I can't do any more payment since I'm already at 20% of the CL?
That's a Chase question, not a Plastiq question. As you noted, it's done by doing a cash advance authorization. So if a cash advance would be authorized, you'll be authorized (and the final purchase will done as a credit purchase, not cash advance). If a cash advance would not be authorized, you won't be authorized.

For example, if your specific cash advance limit is not 20%, but instead 2%, then you'll be denied the $1000 authorization, because $1000 is much more than 2% of $10000. The 20% number is based on the assumption that your cash advance limit is probably 20%, but if your actual cash advance limit is not 20%, it's not really 20% that they authorize against, it's your cash advance limit which they authorize against.
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Old Nov 11, 18, 3:49 pm
  #399  
 
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You can resubmit one the palstiq charge post to your account. You have to wait for your cash advance limit to clear. You can check this by logging into your chase account. The can make any platiq payment up to that limit. The charge will reduce the limit. After a few days, the plastiq charge will post as a purchase you your cash advance limit will reset to its full amount (only exception is if your available credit is lower than your cash advance, then you can only do up to your available credit)
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Old Nov 11, 18, 5:08 pm
  #400  
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I checked my cash advance limit and it is 20%. So for the above example, if my CL is $10,000, then I can have $2,000 pending payments total at Plastiq? Or if the payments are far apart, I can wait for the first payment to clear and more cash advance limit open up...
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Old Nov 12, 18, 4:09 pm
  #401  
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Originally Posted by RedSun View Post
I checked my cash advance limit and it is 20%. So for the above example, if my CL is $10,000, then I can have $2,000 pending payments total at Plastiq? Or if the payments are far apart, I can wait for the first payment to clear and more cash advance limit open up...
Did you read chaser123's answer to you right before your post? It's just that chaser123 didn't quote or mention you, so it wasn't obvious (without reading their post) that it was an answer to you.

I presume you were replying to me because you reference "the example above", and my post included an example.

Last edited by sdsearch; Nov 12, 18 at 4:15 pm
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Old Nov 13, 18, 7:36 pm
  #402  
 
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My landlord allow me to pay rent online.
I have been paying my rent via Plastiq due to various promotions.
I was wondering if I pay directly using my Citi AAdv Biz MC, the processing fee will be less than the 2.5% Plastiq fee?
Any suggestions?
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Old Nov 14, 18, 5:28 am
  #403  
 
Join Date: Aug 2011
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I have to meet a spend requirement on a visa card. I am willing to give up 2.5% but because of visa restrictions cant make mortgage payment. Can I pay myself or my wife? Does this make sense? Any better options?
Thanks.
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Old Nov 14, 18, 5:38 am
  #404  
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Originally Posted by coolmuke View Post
I have to meet a spend requirement on a visa card. I am willing to give up 2.5% but because of visa restrictions cant make mortgage payment. Can I pay myself or my wife? Does this make sense? Any better options?
Thanks.
Use Paypal or Venmo and pay like 2.9% fee.
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Old Nov 14, 18, 7:26 pm
  #405  
 
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So what’s the general consensus on delivery time for checks for rent payments? Thinking about using plastiq to help meet min spend for Amex gold and plat but want to get an idea on how long it takes before I do it.

Thanks!
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