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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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 14, 2019, 12:38 pm
#481
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
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....)
Mar 14, 2019, 3:41 pm
#483
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: 1,978
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 ($100k asset) level.
Not sure if there is any 1.5 miles business CCs.
Mar 18, 2019, 5:17 pm
#484
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
INdeed, so sad that CIP 3x is dead for Plastiq. Had I known it was about to die I could've spent way more using my CIP....oh well.
For now I only use plastiq to hit sign up bonuses. No other CC/pts programs, IMO, can reliability and easily get over the steep hump of Plastiq's 2.5% fees....unless something changes in the future or the CIP is revived.....(or a similar product that can reliabily and easily earn 3x....)
For now I only use plastiq to hit sign up bonuses. No other CC/pts programs, IMO, can reliability and easily get over the steep hump of Plastiq's 2.5% fees....unless something changes in the future or the CIP is revived.....(or a similar product that can reliabily and easily earn 3x....)
If it's 3% cashback, that's tricky (it'd had to be 3% cashback for an "online" category for which Plastiq actually works). If it's 3x points, that's tricky.; But if it's 3 cents/$ 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.
Last edited by sdsearch; Mar 19, 2019 at 2:06 pm
Mar 18, 2019, 5:38 pm
#485
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
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.
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.
Apr 5, 2019, 6:55 am
#486
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
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?
Apr 5, 2019, 12:51 pm
#488
Join Date: Sep 2012
Posts: 4,431
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?
Apr 5, 2019, 1:15 pm
#489
Join Date: Apr 2005
Posts: 141
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?
Last edited by iridium; Apr 5, 2019 at 1:54 pm
Apr 5, 2019, 1:43 pm
#490
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Apr 5, 2019, 2:13 pm
#491
Join Date: Apr 2005
Posts: 141
Apr 5, 2019, 2:19 pm
#492
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Apr 6, 2019, 10:24 am
#493
Join Date: Apr 2005
Posts: 141
depends how much the cb on the purchase was (with debit cards sure it doesn’t make sense, if it’s McGc bought on a card with cb) .. if you don’t have any other cash out avenues, you use what you have available.
Apr 6, 2019, 11:31 am
#494
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
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.
Apr 6, 2019, 1:12 pm
#495
Join Date: Apr 2017
Posts: 470
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?