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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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)
Mar 8, 2019, 9:37 am
#466
Join Date: Mar 2016
Location: North Texas
Programs: SWA A-List, Marriott Platinum, Hilton Gold
Posts: 188
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.
Mar 11, 2019, 7:17 pm
#467
Join Date: Jan 2014
Location: TYS/BNA/ATL
Programs: UR, TYP, MR, C1, AA, UA, WN, BA, AS, AV, AC, Choice, Hyatt, IHG, Hilton, Wyndham, Marriott
Posts: 1,970
Is the fee raised to 2.67%? That's what I see now on a new payment.NM, figured out. 2.5% starts from $10
Last edited by yugi; Mar 11, 2019 at 7:26 pm
Mar 11, 2019, 7:19 pm
#468
Join Date: Nov 2014
Location: MCI
Posts: 698
Mar 13, 2019, 2:54 pm
#471
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
The code you guys have is the referral code. If you use that code, then both the party opening the new account and the party sending the code get FFDs after the new account holder spends certain amount. Most of the benefits to the party sending the code since there is no cost to that party.
It is just like personal referral. Google "Plastiq business Referral" and you'll see it.
It is just like personal referral. Google "Plastiq business Referral" and you'll see it.
Mar 13, 2019, 2:56 pm
#472
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Mar 13, 2019, 3:08 pm
#473
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
I just wonder what Business CCs you guys use. The AmEx BBP is my go-go card. But I'd like to add some more. Most the airline and hotel cards do not cut it since they normally earn 1x mile and 2x hotel points. Any CCs have Plastiq as "business" categories?
Mar 13, 2019, 4:03 pm
#474
Join Date: Jul 2010
Location: PHL
Programs: Hyatt Globalist, Hilton Diamond, AA Gold, FB Gold, ITA Volare Executive
Posts: 3,294
Different folks value MR and UR points differently. I tend to prefer UR points because I'm very much an adept of Hyatt, and I find that I can get two cents of real value per Hyatt point (equal to a UR point). With that in mind, when I can use Plastiq I have come to prefer Chase Freedom Unlimited (or the business version) at 1.5x to BBP at 2x. But it's a close call, to be sure.
Mar 13, 2019, 4:55 pm
#475
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Now that the 3x for Plastiq on Chase Ink Preferred is dead, I don't think that there are any other goldmines out there. At least none that anyone is sharing with me.
Different folks value MR and UR points differently. I tend to prefer UR points because I'm very much an adept of Hyatt, and I find that I can get two cents of real value per Hyatt point (equal to a UR point). With that in mind, when I can use Plastiq I have come to prefer Chase Freedom Unlimited (or the business version) at 1.5x to BBP at 2x. But it's a close call, to be sure.
Different folks value MR and UR points differently. I tend to prefer UR points because I'm very much an adept of Hyatt, and I find that I can get two cents of real value per Hyatt point (equal to a UR point). With that in mind, when I can use Plastiq I have come to prefer Chase Freedom Unlimited (or the business version) at 1.5x to BBP at 2x. But it's a close call, to be sure.
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.
Mar 13, 2019, 8:33 pm
#476
Join Date: Jan 2014
Location: TYS/BNA/ATL
Programs: UR, TYP, MR, C1, AA, UA, WN, BA, AS, AV, AC, Choice, Hyatt, IHG, Hilton, Wyndham, Marriott
Posts: 1,970
I did a test with chase Visa which previously coded as insurance, now codes "Quasi Cash - Merchant". This looks like cash advance. The amount was $10.25 (including the fee).
Mar 13, 2019, 8:57 pm
#477
Join Date: Jul 2010
Location: PHL
Programs: Hyatt Globalist, Hilton Diamond, AA Gold, FB Gold, ITA Volare Executive
Posts: 3,294
Mar 13, 2019, 9:22 pm
#478
Join Date: Jul 2014
Posts: 369
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.
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.
Mar 14, 2019, 12:11 pm
#479
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,932
Mar 14, 2019, 12:22 pm
#480
Join Date: Nov 2014
Location: MCI
Posts: 698
Now that the 3x for Plastiq on Chase Ink Preferred is dead, I don't think that there are any other goldmines out there. At least none that anyone is sharing with me.
Different folks value MR and UR points differently. I tend to prefer UR points because I'm very much an adept of Hyatt, and I find that I can get two cents of real value per Hyatt point (equal to a UR point). With that in mind, when I can use Plastiq I have come to prefer Chase Freedom Unlimited (or the business version) at 1.5x to BBP at 2x. But it's a close call, to be sure.
Different folks value MR and UR points differently. I tend to prefer UR points because I'm very much an adept of Hyatt, and I find that I can get two cents of real value per Hyatt point (equal to a UR point). With that in mind, when I can use Plastiq I have come to prefer Chase Freedom Unlimited (or the business version) at 1.5x to BBP at 2x. But it's a close call, to be sure.
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.
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.
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....)
