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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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)
Feb 2, 2019, 12:33 pm
#452
Join Date: Aug 2011
Location: BOS / BWI
Programs: AA, UA, Marriott, HHonors, Avis et al.
Posts: 237
Yes, I used to pay Flagstar mortgage with my CIP but when the previously scheduled payments ran out, I could no longer use Visa cards for mortgages. Such a bummer, haven't found way around it. If anyone has any recent datapoints or ideas, I am all ears. It would be so great if I can use my new Spark Miles visa to pay my mortgage.
Feb 4, 2019, 11:09 am
#454
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,955
Welcome to Flyertalk
To be sure we understand correctly, the transaction was processed by Chase's automated system exactly as you would expect, and exactly as described by Plastiq on THIS page, but you asked Chase customer service to look at it, and now you want to know why they gave you different information?
I would ignore the SM discussion, complete the minimum spend to earn the new account bonus, wait for the end of the billing cycle, and see if points post for that transaction and the bonus. If the bonus does not post contact Chase, but do not "suggest" that it may be related to a particular transaction, let them do their research and tell you.
I would ignore the SM discussion, complete the minimum spend to earn the new account bonus, wait for the end of the billing cycle, and see if points post for that transaction and the bonus. If the bonus does not post contact Chase, but do not "suggest" that it may be related to a particular transaction, let them do their research and tell you.
Feb 4, 2019, 11:49 am
#455
Join Date: Jan 2019
Posts: 2
Welcome to Flyertalk
To be sure we understand correctly, the transaction was processed by Chase's automated system exactly as you would expect, and exactly as described by Plastiq on THIS page, but you asked Chase customer service to look at it, and now you want to know why they gave you different information?
I would ignore the SM discussion, complete the minimum spend to earn the new account bonus, wait for the end of the billing cycle, and see if points post for that transaction and the bonus. If the bonus does not post contact Chase, but do not "suggest" that it may be related to a particular transaction, let them do their research and tell you.
To be sure we understand correctly, the transaction was processed by Chase's automated system exactly as you would expect, and exactly as described by Plastiq on THIS page, but you asked Chase customer service to look at it, and now you want to know why they gave you different information?
I would ignore the SM discussion, complete the minimum spend to earn the new account bonus, wait for the end of the billing cycle, and see if points post for that transaction and the bonus. If the bonus does not post contact Chase, but do not "suggest" that it may be related to a particular transaction, let them do their research and tell you.
Feb 9, 2019, 11:39 am
#456
Join Date: Aug 2018
Posts: 206
So what is a good mastercard strategy? I currently can pay my mortgage (1k a month) and car payments (1.5k a month) with a mastercard. So thats 30k spend that I couldn't get otherwise. 750 dollars in fees assuming no promotions. I am less interested in points (although certainly could use for minimum spend on new cards) and was looking more at high spend bonuses. I saw the Virgin Atlantic mastercard has a high spend bonus, but they just had a good promotion end. Any other ideas?
Feb 9, 2019, 3:38 pm
#457
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
So what is a good mastercard strategy? I currently can pay my mortgage (1k a month) and car payments (1.5k a month) with a mastercard. So thats 30k spend that I couldn't get otherwise. 750 dollars in fees assuming no promotions. I am less interested in points (although certainly could use for minimum spend on new cards) and was looking more at high spend bonuses. I saw the Virgin Atlantic mastercard has a high spend bonus, but they just had a good promotion end. Any other ideas?
Feb 9, 2019, 8:30 pm
#459
Join Date: Jul 2014
Posts: 369
I use Plastiq with Citi Cards. I actually have been applying for lots of citicards lately so I can get more retention offers. The offers work advantageously with Plastiq. I also max out my business blue 2x with plastiq. Not the best deal but I put those those amex rewards to good use. Hopefully plastiq has a new promo soon. Its been a while.
Feb 10, 2019, 11:50 am
#460
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
And you need to think carefully about different mileage programs. To start with, be aware of expiration policies:
Miles/Points that Do and Don't Expire
and you have to know how to "top off" if the miles you earn from the signup bonus are not enough for the award(s) you want.
Thus it works best for mileage programs you already belong to now and have other means of earning into (dining programs, shopping portals, car rentals, hotel stays or hotel program transfers, etc, etc). It's much trickier to use a high spend bonus for a mileage program you don't yet belong to and which you're totally unfamiliar with and wouldn't know how to "top off" or avoid expiration (without high expense).
Finally, you need to learn about the anti-churning rules at each bank, because that may lead you to apply first at certain banks (even if that's not highest spend bonus at that moment) because if you wait you may never be able to apply at that bank after that.
Feb 10, 2019, 4:25 pm
#461
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Then there is the relative or comparative side. Plastiq carries a 2.5% standard fee. If you get other means to get to the $30,000 spending, you'd be better off if you cost is 1.5%, even 2%. Then you beat Plastiq. There are quite some ways to do it. This is why Plastiq is not optimal, but only secondary if better options have been exhausted.
Feb 10, 2019, 5:06 pm
#462
Join Date: Aug 2018
Posts: 206
Right. This is my car payment and mortgage. I can't pay with a credit card, but I can with plastiq. And plastiq only accepts MasterCard for those. Thus that 30k is otherwise cash pay. Right now I am doing 2 Citi AA MasterCards. Recently did Barclays arrival. At some point will run out of/need to wait on MasterCards just for welcome bonus. That's why I am looking for big spend bonuses that are worth it.
Feb 23, 2019, 4:50 am
#463
Join Date: Sep 2017
Posts: 332
If I apply for the Discover it Cashback Match will that cashback match work as far as using it specifically for my mortgage only?
So my mortgage is $700 monthly how much cashback would I be looking at? Or how does it work.
And how would I know my bank even accepts this form of payment.
So my mortgage is $700 monthly how much cashback would I be looking at? Or how does it work.
And how would I know my bank even accepts this form of payment.
Last edited by Caribgrl; Feb 23, 2019 at 5:11 am