The Offer
- Plastiq seems to be waiving the first month’s fee when you schedule 6 months or more with
a Visaany card
The Fine Print
- None, this isn’t advertised by Plastiq
Our Verdict
This has been reported by multiple readers (1, 2, 3). They offered a similar promotion earlier in the year, but you received the first two months free with Mastercard (that deal was targeted). People with probably be more interested in this Visa deal because the Chase Sapphire Reserve is currently coding as travel for some payments. Also remember today is the last day to get $800 in fee free payments if you’re a new user.
Update: People will be even more interested as it doesn’t look to be limited to Visa/Mastercard or American Express, all are working.
Tried scheduling 6 months on CIP and fees weren’t waived. I’ve scheduled payments before, but only one at a time, never multiple over many months.
Still alive and well, just scheduled 6 months on an Amex with 1st payment’s feess waived
I just tried to schedule my mortgage payment with CSR and it showed me first month free.
Has anybody tried cancelling the subsequent payments after submitting the first rent payment fee-free? Did Plastiq retroactively charge the fees for that first payment? I submitted my first payment on 4/16 and want to cancel the next 5 months.
Added a 6x mortgage payment through CSR, no fee waiver. What am I missing?
Have you scheduled payments before? Deal might also be dead.
I have scheduled payments before.
Is this dead? I did schedule payments with the first one free successfully this afternoon but when I try it now I no longer get the free payment. No luck in another account either.
You only get it once, so if you’re trying to do it multiple times that’s probably why.
But I don’t get it in an alternative account either. In that account I didn’t try “this” promo yet (though I did the previous MasterCard one there).
Deal might be dead then
I got this offer w/ an Amex card last month & combined it w/ $800 FFDs to yield 2 payments free of charge.
Unfortunately, I haven’t discovered a way to apply more FFDs to the payment schedule, so I may have to cancel it.
The biggest caveat of Plastiq is this…..I’m locked in a year schedule and am not allowed to apply my FFD’s. I chatted with them about it and to no avail…payments already scheduled can not be used towards FFD….HUGE FAIL IMHO
That’s terrible. I’ll probably submit a support ticket — I hope they change this!
I think it’s way premature to do math based on 6 months (or 5) of payments because the 3x could very likely go away.
If my math is correct, this deal allows you to buy UR points at about $.068 per point. Has anyone else run the numbers?
For example, if my mortgage is $1000 and I schedule 6 payments, and the first month’s fee is waived, I’ll be paying $125 in fees. Total spend would be $6125 at 3x = 18,375 UR.
Your math is slightly wrong.
With this deal you can buy 1 UR point for $0.0068 it is about 0.7 cents per point.
Without this deal you buy 1 UR point for $0.0081 it is about 0.8 cents per point.
If you cancel the remaining 5 payments you get all your UR points for free. But you should hope in this case that Plastiq will not charge you for the first payment.
Put my decimal in the wrong place. Thanks.
Here’s the fine print. Note, they don’t guarantee they will retroactively charge the fee, but they say they might:
Should you delete the schedule or modify the amount of any/all payments in the schedule, Plastiq reserves the right to retroactively charge you for the first month’s service fee.