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Plastiq has been one of my favorite ways to earn points and miles over the past few years as it has allowed me to use a credit card to pay bills where the merchant wouldn’t have taken credit cards directly. For me personally, I’ve been able to pay my son’s preschool tuition, my daughters after school program, my mortgage, and even my taxes. This adds up to be a large chunk of change so earning points, miles, and even cash back on these purchases is pretty big.
The only problem though is that you cannot use all credit card types for all payment categories. Up until this point it has been kind of confusing on which credit cards Plastiq will and will not support, but fortunately, Plastiq just sent me a pretty handy dandy matrix which is easy to follow.
As you can see from the chart above, American Express credit cards are the most limited, followed by Visa credit cards—although there are still many payments you can put through on these cards. For many, not being able to pay your mortgage through either is huge, but you can still pay it with a Discover or Mastercard. And fortunately, you can use any card type for your taxes!
Keep in mind that using Plastiq is by no means free! Typically, they charge a 2.85% fee, so you’ll want to make sure you are using a card where you’ll earn more than the fee incurred. Or, if you are trying to hit minimum spend for a welcome offer, it might be worth the fee.
Here are some cards that might be worth it:
Discover It Miles:ÂEarn 1.5% cash back, however, all miles earned in the first year are doubled which means allÂPlastiq purchases in the first year will net you a 3% return.ÂThis means you are coming ahead with a 0.15% return.
Chase Freedom Unlimited: Earns 1.5x on all non-category purchases, but if you have the Chase Sapphire Preferred,ÂChase Sapphire Reserve, orÂChase Ink Preferred, you can transfer your points to one of those “Premier†cards and then transfer your points to partner loyalty programs. I personally value those points at about 2 cents per point, so yourÂPlastiq purchase will net you about a 3% return. Again, this means you are coming out with a 0.15% return but to use for travel purposes.
Promotions for Free Payments
Right now, Plastiq is offering a few different ways to earn “Fee Free Dollars”. When you earn FFD’s, you can apply them to your payment and ultimately the fee you pay to Plastiq is waived. This is a great way to truly earn points, miles, cash back for free!
New Personal Users:ÂIf you are a new user to Plastiq, if you sign up through a referral linkÂ(thanks in advance),Âyou’ll earn $500 “fee-free dollars” after your first $500 spent. You can think of this as only paying a 1.425% fee on your first $1,000 spent. For most points and miles credit cards, you’ll absolutely come ahead and it could be a great way to get some minimum spend under your belt or $1,000 towards earning a particular credit card benefit.
Overall…
Plastiq can be a great opportunity to earn points and miles. I personally used it a ton last year on my Southwest Credit Card to earn the Southwest Companion Pass. I am now using it this year to put a decent amount of spend on my World of Hyatt Credit Card as I am going for Globalist status. Ultimately, this has been a very easy way to earn some great benefits in the travel world while also receiving some extra points and miles along the way.
Editorial Disclosure: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
Plastiq is a payment platform that enables you to pay your bills with a credit card, even ones that don't typically permit credit card payments. While you may find it easier to pay your bills with Plastiq, the payment processing fee of 2.9% might not be worth the convenience.
While Plastiq doesn't let you send money to yourself, you can use it to cover bills that don't accept credit card payments. Many people use it to make their rent or mortgage payments this way. There are a couple of things to know about Plastiq: It accepts Visa, Mastercard, and Discover credit cards.
The most obvious way to avoid Plastiq's fees is to use its bank-to-bank transfer option. However, many services offer free bank transfers; what makes Plastiq stand out is that it lets you charge large payments to credit and debit cards.
Some of of the most requested payment types that Plastiq members ask us to support involve American Express cards. We currently support payments using American Express for residential rent, taxes, utilities, HOA/condo fees, club memberships, and tuition (except education loan payments).
It's very likely you mistyped your card number, provided an incorrect expiration date or CVV. Check with your card issuer to see what billing address is currently on file for this card. The address might be different, especially if you've moved recently or if you're using a very old card.
Plastiq charges a Base fee for all payments we process. For Payments funded with a Credit Card, Prepaid Card or Debit Card, the Plastiq Base Fee is 2.9%.
Plastiq operates in compliance with all card issuer and brand policies, as well as Federal and State law. As per our Terms of Service, we reserve the right to review any payment to ensure we can support that payment and disburse it promptly.
Auto Payment Restrictions: Plastiq cannot facilitate auto purchase payments to individuals. Auto purchase payments must be directed towards a business entity (eg. an auto dealer) to be approved by Plastiq for delivery.
Looking for alternatives or competitors to Plastiq? Other important factors to consider when researching alternatives to Plastiq include reliability and ease of use. The best overall Plastiq alternative is Amazon Pay for Business. Other similar apps like Plastiq are Birdeye, PayPal, FreshBooks, and Karbon.
Plastiq can support payments made with personal prepaid debit cards. However, these cards can only transact up to $10,000 per month. Any payments submitted with a personal prepaid card that exceeds this limit will be declined.
Plastiq can also send funds via domestic (U.S.) and international wire transfers. Domestic wire payments are sent on the next business day. International wire payment crediting timelines can vary depending on your vendor's country and bank, but most international wire payments will take 2 to 4 business days.
Plastiq is a solid option if you want to earn points on big purchases or need a little help meeting a large spending requirement. While the 2.9% fee can be substantial, you can save by signing up with a referral link or referring others. The occasional promotion can also knock out a big chunk of those fees.
Plastiq. Plastiq lets you pay your landlord with a credit card, and it doesn't require your landlord to have an account. You pay Plastiq a fee equaling 2.9% of your payment every time you use a credit or debit card. Payments can be made manually or scheduled automatically.
Plastiq accepts Visa, MasterCard, and Discover, and American Express. Plastiq cannot be used to pay friends and family. It is intended only for paying bills. Prepaid cards are accepted, but are officially limited to either $5,000 or $10,000 total per month (depending on the individual account).
Plastiq accepts both consumer and business Capital One cards, but all Capitol One cards will be held to the VISA credit card restrictions regardless of card brand.
Plastiq accepts many major credit cards, including Visa, Mastercard, American Express, Discover and Diners Club. However, remember there are limitations regarding which bills you can pay with each card type. Plastiq has a handy guide that lists all the different bills you can pay with your eligible card.
Please note that personal Visa credit cards issued by Chase Bank (including Hyatt, Marriott, United, Southwest, and Amazon Visa cards) may apply a lower transaction limit for some payment types. This could result in a declined payment.
The all-purpose Visa Prepaid card is a reloadable prepaid card that you can use to withdraw cash, pay bills, or make purchases at participating retailers and service providers, in-person or online.
Introduction: My name is Kelle Weber, I am a magnificent, enchanting, fair, joyous, light, determined, joyous person who loves writing and wants to share my knowledge and understanding with you.
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