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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
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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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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 Mar 14, 19, 12:38 pm
  #481  
 
Join Date: Jan 2017
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Originally Posted by ginmqi View Post
For now I only use plastiq to hit sign up bonuses. No other CC/pts programs, IMO, can reliability and easily get over the steep hump of Plastiq's 2.5% fees....unless something changes in the future or the CIP is revived.....(or a similar product that can reliabily and easily earn 3x....)
I do not know what that is. Cap1 Spark Mile is a 2x mile card and it may get close. Wells Fargo Biz Plat is another card I explore. For $1k/month spending, you get 2x points and point value can be up to 1.6 cpps. Both cards are not subj to Visa limitation. Also, all those cards are not reported since they are biz CCs. I do not mind hitting 60% utilization.
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Old Mar 14, 19, 3:17 pm
  #482  
 
Join Date: Apr 2007
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Originally Posted by HokiE36 View Post
CNB Crystal Visa, personal Visa CC,
~ $2200 posted as purchase no issue, this was 10/25/2018.
Can I ask which category of purchase you made? Rent? Utilities, etc? Thanks.
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Old Mar 14, 19, 3:41 pm
  #483  
 
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Originally Posted by RedSun View Post
Chase FU is a Visa card and its has its limitations.

The next best is one is BofA Business Travel MC if you can get the 1.75x. Then it is a 2.625% CF card. But not many people can get to the Platinum Honor ($100k asset) level.

Not sure if there is any 1.5 miles business CCs.
Chase Ink Unlimited is 1.5 ppd.
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Old Mar 18, 19, 5:17 pm
  #484  
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Originally Posted by ginmqi View Post
INdeed, so sad that CIP 3x is dead for Plastiq. Had I known it was about to die I could've spent way more using my CIP....oh well.

For now I only use plastiq to hit sign up bonuses. No other CC/pts programs, IMO, can reliability and easily get over the steep hump of Plastiq's 2.5% fees....unless something changes in the future or the CIP is revived.....(or a similar product that can reliabily and easily earn 3x....)
It depends on what the meaning of "3x" is.

If it's 3% cashback, that's tricky (it'd had to be 3% cashback for an "online" category for which Plastiq actually works). If it's 3x points, that's tricky.; But if it's 3 cents/$ of end value, that depends on how much you value airline miles with a particular airline, which might depend on (a) what kind of flights you redeem with those miles, and (b) what your philosophy is for valuing those miles. (Delta and Amex MR are Amex, and United and Chase UR are Visa.)

Ie, if you redeem 140000 miles with an airline for a longhaul business class flight that would cost $7000 in cash, then some people might put that vlaue at 5 cents per mile. Of course, there are other people who says that's not valid if you wouldn't have actually paid $7000 if you hadn't been able to redeem that award. But if you happen to be one who values that award at 5 cents per mile, because that's your philosophy and because you only redeem in cases where the cash flights are super expensive (you buy flights with cash when they're not so expensive), then all you need to get on Plastiq is 1 mile/$ and you are ahead of Plastiq's 2.5% fee. In that case, use an airline miles card (for an airline whose miles you always use this way) or a transferable points card (where you always transfer to an airline whose miles you use this way).

On the other hand, if many of your award flights are (or could be) comparatively cheap-with-cash flights, you're never going to get enough value out of airline miles to break even with a 1 mile/$ card.

But it would have to be an airline card for an airline with high-value redemptions. Ie, a Southwest airlines card (where redemptions are about all the same value) would never work.

Another possible way of getting higher value is through portals. I know Chase UR has portals where people feel they get well more than 1 cent/point value out of them, but Chase UR is unfortunately all Visa. I don't know if any of the MC point programs have portals with higher value than 1 cent/point or not.

And since it has to be an MC (for maximum compatibility with Plastiq), that seems to mean either American (via either Barclay or Citi) in terms of direct miles, or else either Citi TYP or (if you have one already) a Diners Club North America Club Rewards card for transferable points.
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Last edited by sdsearch; Mar 19, 19 at 2:06 pm
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Old Mar 18, 19, 5:38 pm
  #485  
 
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Originally Posted by sdsearch View Post
It depends on what the meaning of "3x" is.
I'd just use common sense point value. It is not pure science. Chase UR, AmEx MR, Citi TY all have point value from 1.5 to 2 cpps. Of course you can get higher if you redeem for premium travel.

With the Visa issue Plastiq has, a lot of the Visa CCs can't be used. This removes some of the good CCs with good earning rates.

I prefer point earning CCs more than cashback CCs.
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Old Apr 5, 19, 6:55 am
  #486  
 
Join Date: Jan 2017
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Anyone has more DPs of using Visa (biz or personal) to make payments? I know government (tax) and education (tuition) can be paid with Visa. Rent and mortgage are probably no-goes. How about utilities and other bills?
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Old Apr 5, 19, 9:14 am
  #487  
 
Join Date: Jun 2014
Posts: 270
I have $10k fee free dollars from a referral...has anyone tried to pay a credit card bill with Plastiq (e.g. Amex)? Is that allowed or will it get shut down/rejected?
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Old Apr 5, 19, 12:51 pm
  #488  
 
Join Date: Sep 2012
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Last week I used some $200 MC gift cards from staples and the fee was 2.5%. Today, I used $100 MC gift cards from Safeway and the fee was 1%. Both are GCM and both are registered through the same website. Did Plastiq just start a promo, or are the Safeway ones 1% always?
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Old Apr 5, 19, 1:15 pm
  #489  
 
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Originally Posted by DaveInLA View Post
Last week I used some $200 MC gift cards from staples and the fee was 2.5%. Today, I used $100 MC gift cards from Safeway and the fee was 1%. Both are GCM and both are registered through the same website. Did Plastiq just start a promo, or are the Safeway ones 1% always?
looks like some promo today. Would have been nice to save 1.5% fees on the payments earlier this week.

Last edited by iridium; Apr 5, 19 at 1:54 pm
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Old Apr 5, 19, 1:43 pm
  #490  
 
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Originally Posted by iridium View Post
looks like some promo (right after i paid 25k thru plastiq). Would have been nice to save 1.5% fees on that amount.
I tested several payments with MC, Visa and AmEx and I do not see any promotion. Still 2.5%.
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Old Apr 5, 19, 2:13 pm
  #491  
 
Join Date: Apr 2005
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Originally Posted by RedSun View Post
I tested several payments with MC, Visa and AmEx and I do not see any promotion. Still 2.5%.
i am making payments with MCGC from Staples and it does give me 1% fee. Using Chase Visa gives me 2.5% fee. Haven't tried any bank MC.
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Old Apr 5, 19, 2:19 pm
  #492  
 
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Originally Posted by iridium View Post
i am making payments with MCGC from Staples and it does give me 1% fee. Using Chase Visa gives me 2.5% fee. Haven't tried any bank MC.
Even at 1% with MCDC, it is too high. I'd never pay 2.5% with any debit cards....
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Old Apr 6, 19, 10:24 am
  #493  
 
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Originally Posted by RedSun View Post
Even at 1% with MCDC, it is too high. I'd never pay 2.5% with any debit cards....
depends how much the cb on the purchase was (with debit cards sure it doesnít make sense, if itís McGc bought on a card with cb) .. if you donít have any other cash out avenues, you use what you have available.
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Old Apr 6, 19, 11:31 am
  #494  
 
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Originally Posted by iridium View Post
depends how much the cb on the purchase was (with debit cards sure it doesnít make sense, if itís McGc bought on a card with cb) .. if you donít have any other cash out avenues, you use what you have available.
I know what you are doing. But think about this.

1. Use 5% CB CC to buy $300 GCs at Staples.com. Fee is 3%. ($8.95 on $300).
2. Redeem the GCs at Plastiq and pay 2.5% fee.

If you add 1) and 2), the total fees are 5.5%. This is higher than the 5% CB you get.

This only works if you buy Staples GCs during any promotions (no activation fees etc); rare Plastiq promotion; and > 5% CC. Chase Ink 5x UR is much better than 5% CB. But not all people have Ink.

There are still many ways to redeem the GCs other than Plastiq. I'd rather earn at least 2 MRs on each $ spend, than using GCs.
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Old Apr 6, 19, 1:12 pm
  #495  
 
Join Date: Apr 2017
Posts: 90
I used to use my chase ink preferred to pay car payments using plastiq and was worth it because I was getting 3 points per dollar. However, I stopped and didn't want to take the risk after that guy who bought his car using plastiq and went viral everywhere. Any recent data points if it's still working or not?
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