Posted by William Charles on June 1, 2018
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Published on June 1st, 2018 | by William Charles

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Plastiq: Changes To Visa Personal Cards (Some Cards Coding As Cash Advance, Some Limited To 20% Of Credit & Others Unaffected)

As rumored Plastiq has announced some changes to using personal Visa credit cards. Apparently this is a change on Visa’s end and Plastiq is working with Visa to resolve these issues. Effective June 1st, 2018 most personal Visa cards are treated as a cash advance, some limit you to 20% of your credit limit. Plastiq has helpfully provided a full list of what is going on with each card, this can be found here. Basically the following is occurring:

  • Bank of America & Citi cards are treated as a cash advance
  • Chase personal Visa cards are limited to ~20% of your credit limit (e.g if your limit is $1,000 you can only charge $200)
  • Capital One & Visa gift cards are not affected

I wonder if Chase cards are initially coding as a cash advance and then reverting to a purchase and that’s why only ~20% of your credit limit can be used (this is usually the portion of your card limit that can be used on a cash advance) or if it’s about limiting exposure for Chase.



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Chuck

Everyone, ALL MASTERCARDS ARE FINE according to the Plastiq post.

YanniH
YanniH

Perfect timing too with the new Plastiq Masterpass promo that started today

https://www.plastiq.com/blog/2018/06/update-to-successful-plastiq-and-mastercard-partnership/

anotherdoofus
anotherdoofus

As pointed out in the reddit discussion, there are a bunch of Citi Mastercards on the list too.

Kevyx72
Kevyx72

Rip my citi aa & premier for the msr, i guess ill just venmo for .5% more

Joe
Joe

Those are both mastercards and should be unaffected by these changes.

Peter
Peter

Citi AA is Mastercard, not affected by this change.

Kevyx72
Kevyx72

Citi ty cards are mastercard too which is confusing as hell

Edit: nvm they changed the list , there wasnt visa issued only notation before

MarcoPolo
MarcoPolo

Citi TYP is also a Mastercard.

AJ
AJ

Does that mean the payments scheduled using my Citi double cash master card is safe? They list this card in the list, but on top it says Mastercard payments are not impacted.

AllwaysLearning22
AllwaysLearning22

The https://plastiq.zendesk.com/hc/en-us/articles/360005215254 post clearly says “Citi Double Cash Card (Visa issued cards only)”

It also says in big red letters “Please note that some banks issue cards under Visa & MasterCard. If your card is issued under MasterCard you are not affected.”

Brian
Brian

Any idea on how this will effect payments scheduled via Masterpass from the last promotion?

AllwaysLearning22
AllwaysLearning22

It should have no impact on any payments with ANY credit card issued by MC

Soniya
Soniya

Its confusing. is citi ATT access more affected too? It says cash advance in their page though it is Mastercard.

Chuck

It states clearly that only a Visa version of that card would be affected (I don’t think such a think exists).

elegua
elegua

Well I feel better now after read this:
“Additionally, if you are using a personal VISA credit card to pay a business in Canada, you will not be impacted.”, Also i’m using my CIP for rent so apparently I won’t be affected by these changes.

Ben
Ben

Curious that the payment processors seem to be driving many of the restrictions with Plastiq (i.e. Visa/Mastercard) — I would expect limits like this to be driven entirely by the banks. Anyone know why this would be?

sloebrake
sloebrake

It’s odd.
Visa is pushing back hard (cash advance is radioactive to the points game). AMEX drew their lines. Mastercard is embracing. Discover is… well. Do they know?

Lrdx
Lrdx

Do Visa versions of Citi Double and MC versions of CSR even exist? (Both cards are listed as impacted, but Visa version only.)

Oazizpharmd
Oazizpharmd

Newbie here, so I apologize if I am asking a really basic question. I am in the 1st year of the 3 percent Chase Freedom Unlimited bonus. If my credit limit is 7500, I can use Plastiq for charges up to 1500 dollars without incurring fees from them or Chase above the 2.5 percent Plastiq fee, correct?

Chuck

Yes, I believe that’s correct. And the charge should earn rewards as well.

Ralph
Ralph

I have the Chase Freedom Unlimited with the 3% bonus as well. Just made a car note payment yesterday (well below 20% of my credit limit) and I’ll report back once it posts with the results.

Ralph
Ralph

Confirmed. The payment posts with 3x URs.

Pretty FI for a White Guy
Pretty FI for a White Guy

Anybody have a DP on regular ol’ Chase Freedom? It would be neat if this were back on 3x URs.

Jesse
Jesse

Visa apparently went down worldwide. Coincidence?

Ken
Ken

Anybody try an US Bank VISA?

Mr. PTM

Wondering about Elan Fidelity myself (US Bank subsidiary)

DTCGuy
DTCGuy

IHG wasn’t mentioned specifically but since chase issues it, do you think it will be subject to the 20%?

MarcoPolo
MarcoPolo

You can always buy Visa gift cards with a Visa CC (when on sale e.g. Giant currently) and use them for Plastiq payments.

Lrdx
Lrdx

.. adding some extra cost, if you can’t find one on sale before your bill is due.

vipul
vipul

Can’t you just add visa in your masterpass account and pay anything with it?

AllwaysLearning22
AllwaysLearning22

The way I read the terms of the MasterPass deal you MUST use a MC CC for the no-fee deal. Yes, you can add a Visa CC to your MasterPass account, but the payment processor would be Visa and MC will not pay the Plastiq fees when someone else (Visa) is getting the processing fees

alias
alias

My vgc was denied by the issuer. I called the number on the card and was told that it is because it is coding as a wire transfer.

Mr. PTM

Similar. My US Bank VGC was declined and I was told that the MCC Plastiq is coding under is not permitted. Something like a money order is what the CSR said.

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