Posted by Chuck on May 25, 2018
Manufactured Spending

Published on May 25th, 2018 | by Chuck

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Plastiq: Pay Bills with Mastercard with No Fee using Masterpass ($250 Limit Added, Previously Scheduled Payments Of Up To $500 Allowed)

Update: Looks like this one was too good to last. Plastiq has sent out an e-mail stating:

Due to the high demand for our latest promotion, conducted in partnership with Mastercard, we wanted to give you advance notice of an upcoming update. Starting June 1, 2018, the promotion will apply to any bill or invoice, up to a maximum of $250 each, instead of $500.*

If you’ve already scheduled payments with this promotion, we will still honor the promotional fee applied to those payments. But please note that editing these scheduled payments will result in a loss of the promotional fee.

If you haven’t taken advantage of this promotion yet, this is your time to do so! Don’t forget to make sure the payment is delivered by September 30, 2018 to qualify.

Honestly even with a $250 cap I’ll be surprised if it lasts until September 30th, 2018 but fingers crossed it does. Keep in mind you can still make $500 payments until May 31st.

The Offer

Direct Link to offer

Plastiq is sending out an email offer in honor of their new partnership with Masterpass; this offer seems to be working for everyone who’s used Plastiq before:

  • Pay bills with a Mastercard using Masterpass and pay no processing fee for the first $500 in payments. Payments higher than $500 will pay a fee on the portion of the payment above $500.

You can use any credit card with Masterpass, but this promotion only works when using Mastercard within Masterpass. Next to ‘Add New Card’ you’ll see an option of ‘More Ways to Add’ and Masterpass will appear there.

The fee will show clearly as $0 on checkout page.

The Fine Print

  • To qualify for promotion, payment must be submitted or scheduled on or after May 15, 2018, and payment’s delivery date must be before or on September 30, 2018.
  • Your card must be successfully billed by Plastiq and remain in good standing to qualify for a promotional credit.
  • The promotional credit is non-transferable and may not be sold or bartered. Promotion subject to change or cancellation at any time. Offer may be revoked at any time for any reason by Plastiq. Offer void where prohibited by law.
  • Valid for new and existing customers.
  • Can only be used up to the first $500 on each transaction.
  • Must have made $500 in payments in account history to qualify (this blocks people from creating multiple accounts).

Our Verdict

It’s a $12.50 savings on each payment if maxed out. Pretty incredible that they are allowing it to be used multiple times up until September 30th – really a useful offer to take advantage of. You can also get .2% back on Plastiq payments with Drop.

Some people have an issue with a specific Masterpass wallet getting cookied into their Plastiq account and limits them to cards from a certain bank (e.g. Citi Masterpass or Capital One Masterpass). There should be a ‘Change Wallet’ option or go incognito to see if you can get the vanilla Masterpass to add any Mastercard.

New Plastiq users can get $500 in free processing when signing up using a referral link (here’s my Plastiq referral link), you can also share your referrals in this dedicated post. I’m not sure if this offer is valid for all users who have sent $500+ in prior payments or it’s targeted to only some. And we don’t know whether new users who signup now will get, or be eligible for, this offer.

Hat tip to DDG and runningwithmiles



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Definitely taking advantage of this. Just took out a AA Gold card for my home renovations and specificalyl for plastiq payments and have to spend $5000 MSR.

That’s 10 plastiq payments, no fees 🙂

Using AT&T Mastercard on the Masterpass. Any thought on it this should still code as internet purchase?

Huh? AT&T Mastercard stopped coding as an Internet purchase on Plastiq several months ago. Seems unlikely that simply using it via Masterpass will change this.

Ah yes, nm. Part of my retention offer was 2%+ on all purchase, so I keep just figuring this as a 3% card.

I did not get an email and appear to be eligible. Weekly payments also appear to work 🙂

Are only Capital One mastercards eligible? I was taken to a site asking me to use Capital One logins.

try a private window

Down in the corner of the CapitalOne Masterpass login screen it says “Change Wallet” which you can click on and then login to the generic MasterPass. MasterPass has individual “wallets” for individual card issuers like Citi, CitiBusiness and CapitalOne so you just have to get to the “Choose Wallet” screen which is accessed through the “Change Wallet” link in the bottom right corner.

What a freakin’ disaster in marketing, btw. MasterPass is obscure enough, and they managed to fracture their microscopic share into multiple products.

+1.
Such a helpful post, cause I was having the same issue (locked into Citi, but wanted to use my Arrival+). Thank you!

I had the same problem.
You can use incognito mode in Chrome (Ctrl+Shift+N) to access regular masterpass.

Just scheduled weekly $500 student loan payments. Was looking for a reason to pay them off, I guess 2% on a Citi Double cash works.

I didn’t receive the e-mail, but just made a $500 fee-free payment. What are the odds I can pay my rent in $500 increments? I know they’ve canceled such payments in the past.

I have the same thought! Maybe for a few times, until the managment calls and ask “WTF are you doing?”

The majority of landlords won’t accept partial rent payments.

I’ve now scheduled 20 payments all for $500.00, $500.01, $500.02, etc in 4 day increments once a month for the next 5 months and it says’ they’re all fee free.

Paying what if you don’t mind me asking? Credit card bills?

Can’t pay CC bils via plastiq. Mortgage, rent, utilities, anyone who’s done work you and has submitted a bill to you

Mortgage

How frequent can it be? I need to pay my son’s tuition… Would be good if I can do multiple $500 payments using credit cards.

Will have to wait on this. I’m spending on SPG as much as I can until 8/1 to make the most of the 3x Marriott while it lasts. Will switch my Plastiq over to a MC after 8/1 until 9/30.

Doesn’t make any sense unless you value SPG at 4.5 cents

Regarding this term: “Must have made $500 in payments in account history to qualify (this blocks people from creating multiple accounts).”

What would be the advantage of creating multiple accounts anyway if they’re letting a single account make multiple fee-free payments?

Avoid plastiq seeing you make 50 payments a month – 5 accounts would only be 10 payments per month.

I can think of several legitimate reasons for wanting to create separate accounts, although as a newbie to Plastiq I’m unsure what is/isn’t permitted: separate personal expenses from business expenses, and separate different types of business expense accounts (e.g., separated by employers/DBAs/projects/campaigns/subsidiaries).

Abelian Grape

I can go through the motions of adding a Masterpass card (my most recent Citi AA), but when it goes back to Plastiq it doesn’t show up and Plastiq reverts to my previous card.

Try deleting all cards except the one you’re adding.

After you add it, you then need to select it. I also noticed it doesn’t select the new card by default.

Were you able to get it to work? I couldn’t get my recent AA’s to stay but able to get Prestige and Doublecash to show

Wow, great name. I’m a ring theorist, BTW. 😉

I set up recurring payment till 9/30 and split my mortgage into multiple payments

I would be careful about that unless you know how your mortgage company will deal with payments less than the expected full payment amount. Many company treat smaller payments as over payments and apply to principal pay down not your due payment. Some will clump payments but it is by no means guaranteed. Likely calling in will solve this problem but it may take some effort on your part.

Yep, if you’re paying a mortgage call and ask first!!!

Who owns a mastercard??? 21 cards, not one is

Citi Double

Barclay is mastercard

Almost all citi cards, BMO Harris currently has double intro offer, pretty much all barclay, couple different Capital One cards.. How did you get 21 cards and not have a mastercard, haha?

Examples:

Credit cards:
IHG MasterCards
PayPal Extras MasterCard
Sears/Shop Your Way MasterCard

Debit cards:
Amalgamated Bank debit MasterCards
Citibusiness debit MasterCard
Several credit unions’ debit MasterCards

Never used plastiq before. How does this work with apartment rent. I pay plastiq and they send a check to the landlord?

Aye.

Adrien Agreste
Adrien Agreste

Ok, but the real question is: Can you add MCGCs to MasterPass and thus liquidate them fee-free using this method?

Definitely curious on this… 1% fee for $500 MCGC from Grocery store @ 5% Chase Bonus, 6% amex, or almost any other category bonus would be significantly better with $0 plastiq fees than just a straight Mastercard payment through Plastiq (best case is Citi DC for me since no MC to MSR).

I can verfity that this works!

burdenedbystudentloans
burdenedbystudentloans

how do you enter a mcgc into your wallet? i cant seem to enter it it tell me there is something wrong…

Any idea if “Recurring payments” get the same treatment or is it that only the 1st $500 of that recurring payment would be fee free?

EDIT – Plastiq currently shows recurring payments of $500 free for subsequent periods also. I expect this to die shortly or Plastiq to revise their terms and cancel outstanding payments.

FamilyOnABudget
FamilyOnABudget

My recurring payments after September 30, 2018 applied the transaction fees.

Delete

Megan C Heister
Megan C Heister

Finishing off the minimum spend on my Chase IHG MasterCard. MasterPass doesn’t seem to let me add the card. Anyone else having this issue?

Is it because you’re trying to add it to the wrong wallet? The design of Masterpass is confusing, to say the least. There are plenty of posts here about the multiple wallets and how to make sure you’re adding the card to the right one. Ugh!

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