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The Offer
- Pay your bills with a Mastercard credit card using the Plastiq bill payment service and pay just a 2% service fee
The standard service fee for paying a bill with a credit card bill is 2.5%. As part of a partnership with Mastercard, the fee is now lowered to just 2% for US payments made with a Mastercard credit card.
[More details on Plastiq here: New Option for Paying Rent, Tuition & More with a Credit Card]
This 2% rate was originally reported on Reddit but we didn’t know if it was a glitch or not since there isn’t any advertising indicating the lower rate. Viewfromthewing confirmed with Plastiq that the rate does exist and that – for now – there’s no end date on the rate; hopefully, it will last for a while.
Outandout did some testing and it seems that the 2% rate is only working for check payments, not for ACH payments with payees already in the Plastiq system. This seems odd. We reached out to our contact at Plastiq to verify this, and we’ll be sure to update when we find out more.
Update 4/19 : We heard back from Plastiq that this issue should be fixed now and all payees should be 2% with Mastercard.
Our Verdict
The lower Mastercard rate is especially good news being that Radpad is soon raising their Mastercard rate from 1.99% to 3.49%, and many people may want to start paying their rent with Plastiq instead at the 2% rate. See also our Complete List Of Options For Paying Your Rent With A Debit Or Credit Card.
Remember also that you can get $200 in free processing by signing up with a referral link. Find a referral link and share your own in the dedicated post: Plastiq Referral Program: Earn Fee-Free Credit Card Spend. Please do not put any referrals in the comments here.
Hat tip to Outandout and Viewfromthewing
