The Offer
- Pay any new bill with Plastiq using a Mastercard credit card or gift card and pay just 1.5% processing fee.
You can pay things like mortgages, car payments, or any other business. Only new bills which you have not paid before are eligible for this discounted rate. And only Mastercard payments are eligible, not Visa or Amex.
You only get this offer when using a special link. We don’t have one, but here is Viewfromthewing’s link and here is FrequentMiler’s link. There are probably other as well, but these are the ones I’ve seen so far. Plastiq clarified in the comments of this post that this offer is available to all; no need to signup with any special referral link.
The Fine Print
- Valid until September 30, 2015.
- If you previously enrolled in the 1.99% offer which was available in the past, then this offer should work for you automatically. If not, you can just enroll now with a new email address and get the promotional rate.
It’s possible that you can schedule out payments at this 1.5% rate for the future; we don’t have positive confirmation on this, but this reportedly worked in the past. You can schedule out payments for as long as you want and lock in the promotional rate.
Our Verdict
The rate is truly very good; I’d be willing to pay that rate to rid myself of smaller dollar gift cards, for example. (A $100 Mastercard gift card could be liquidated for less than $1.50 this way.)
I had been hoping that these Platiq rates would be more permanent – not fly by the month promos – but it looks like they are just limited time offers to entice us to sign up, which make them less appealing.
In the end, if you have consistent bills to pay, it’s probably worth trying out the system and making use of these offers to meet minimum spends or to unload gift cards.
Since you can schedule out payments, this offer can make it a good deal to conveniently pay out your mortgage or car loans with a credit card and pay with your Citi DoubleCash Mastercard, for example, and you’ll net around .5% on the payments.
Previous Plastiq posts:
Best Plastiq promo so far!
Make a payment of $100 or more in plastiq with my referral and we both get $2500 in no fee payments!
Here’s my link:
[link removed. You’re not allowed to just share your referral links where ever you like – read the rules]
Details below:
Refer any business with your unique code, and when they make a payment of at least $100 by March 31, 2017, both of you earn 2,500 fee-free dollars. That means you can pay $2,500 worth of bills without the Plastiq fee and there’s no limit to how many businesses you can refer!
Your unique referral code is:
Please don’t do this.
Who would bother for .5% net? that sucks
I don’t mind extra 10-15 bucks a month just to pay my mortgage! I know there are other ways to make money on mortgage payment but this is quite straightforward and almost no effort involved.
Free money is free money. No effort is required.
Hi everyone,
Just wanted to answer questions and offer clarification:
You don’t need to register, or have registered, through a referral link. This promotion applies to everyone!
We recommend submitting payments 10 business days before they are due to ensure timely arrival.
If you have any questions or issues, please email [email protected] or chat us in the app (available Monday to Friday, 8 a.m. to 6 p.m. PT).
Best,
Rebecca from Plastiq
Thanks Rebecca.
I’d read elsewhere that it required signup through a referral link. Good to hear that isn’t necessary. I’ll update.
The timing on this one stinks for me. I setup my credit union to pay my car payment 2 weeks ago. I did a test payment from my Aviator Mastercard for $50 at 1.99% to make sure the transaction worked from both sides. The payment hit yesterday – Yah. Now when I try and make the actual $500 payment the rate has revered to 2.5% because the 1.99% promo has expired and it is not a “new” business for the 1.5% rate.
Though I did get in the mastercard 0% for utilities. I have future payments out till feb2016 at 0% for my gas and electric.
I am thinking about using this to make my mortgage payment in order to meet min. spend on Citi ThankYou Premier card ($3000). This will get most of the spend out of the way. A little more expensive than the gift card/Serve route, but worth it to me as I won’t have to drive around anywhere.
Will Citi count this as a purchase and count towards bonus? I did set my cash advance limit to 0, but I don’t want them to not count the purchase towards the min. spending.
Can anyone who has used Plastiq with a Citi card recently share their results?
I can’t reply from experience, but if it goes through as a purchase you should be fine.
I did it on my Prestige. 3 payments between late August and Early September all posted as purchases.
thanks for the feedback Brian.
Using the Prestige to load NW Buxx incurred no cash advance fee and was treated as a purchase. What’s more, I did not even bother setting CA to $0, as I knew from prior reports that it would be treated as a purchase.
You should remember that setting many Chase credit card CAs to $0 will prevent you from using the card in such instances, for although ultimately treats the sale as a purchase, often times it initially shows as a cash advance. If it does, and you set your CA limit to a very low limit, the loading will be rejected as it initially is coded as a CA, and therefore, it will not go through.
In the past, many Citi purchases were treated as CAs, but that is not the case anymore.
They emailed about it – you can lock in this rate for the foreseeable future on recurring payments:
” All recurring payments to new businesses will receive this rate, as long as they’re scheduled before the promotion ends– even if they’re over a year out.”
Thanks, updated.
Not sure why I didn’t get the email.
Just sent you the email they sent me
I wouldn’t use this to pay anything with a due date unless you send it least two to three weeks early. They are bad about getting checks out on time, don’t trust their “deliver by” dates.