Posted by Chuck on June 6, 2017
Manufactured Spending

Published on June 6th, 2017 | by Chuck

76

Plastiq No Longer Earning 3x on Rent/Mortgage with CSR

Plastiq has been coding as Lodgings and triggering the Travel category bonus on most Visa cards, including 3x on CSR, since April. Unfortunately, this appears to have died on June 3.

There are a few data points indicating that it’s still working on CIP (1, 2, 3). One data point of CIP not working: 1. Also check this Reddit thread for conflicting CIP data points.

Let us know if you have data points on CIP or other Visa cards in the comments. (Please let us know if you previously had success and it changed or if this is your first attempt.)

I’ve reached out to our Plastiq contact to find out if anything changed on their end, which is really the question here. Did something change on the Plastiq backend which would then result in no cards considering Plastiq to be Travel any longer? Or did Chase recode something on their end in which case it’s possible they only changed CSR and likely CSP, not CIP. And then the Travel coding could still work for other Visa cards (BofA & Cap1).

In any case, there’s a good chance that AT&T is not affected by this change. Note, ATT has always been highly YMMV so do a small test first.

We’ll update our review of Plastiq when we clarify the issue.

Hat tip to Frequentmiler and @telewatcr



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Ferris
Ferris

In my opinion, it is better that the 3x Travel is removed as opposed to them raising their overall rate. It’s a go to for sign-up bonus spend when you have no other means or don’t want to run around saving 1% wasting hours of your life.

sad sad sad
sad sad sad

I literally made a $10k this morning!!!!!! I feel like crying….

T
T

I am so so so sorry for your loss. All of our thoughts and prayers are with you during these tough times.

J
J

Indeed. Hard to have as much sympathy for someone exploiting a loophole as I would for someone who was legitimately screwed out their money.

sad sad sad
sad sad sad

Is this a loophole? They classified it as lodging!

J
J

Wouldn’t be so many articles/discussion about it if there wasn’t something “fishy” about it, don’t you think?

sad sad sad
sad sad sad

Oh, I read many exciting posts about the new Blue Business Plus, so must be something really fishy there…

sad sad sad
sad sad sad

I made a huge payment much more than necessary because first month was fee-free, and figured that next month I’ll change it to much much less…
So now I’m left with the risk of having to cancel the remaining 5 months and not having them charge the fee retroactively… at this rate it doesn’t make sense to keep the remaining payments.

Kelvin
Kelvin

Aww…Man

sad sad
sad sad

Also, what would make it worthwhile to keep it?

T
T

Do you have personal relationship with Plastiq personnel? Just curious why you reached out to them? Is it ok to draw attention to them or they already knew about it? Just curious cuz I was always taught to not draw attention to a good thing. Too bad it was so short lived. :/

Vic
Vic

I always thought DoC has connection in every corner of this game 🙂

jnrfalcon
jnrfalcon

ATT still 3x last month.

foobar
foobar

FWIW, I’m using ATT to pay my BofA mortgage through Plastiq.

On April 10 (and in months before), it coded as “Miscellaneous – REAL ESTATE AGENTS AND MANAGERS RENTALS” and earned 3x.

On May 10, it instead coded as “Services – MISC GOVERNMENT SERVICES”. My statement closes tomorrow, so I’m not yet certain about 3x, but I don’t have high hopes for it right now.

Side note: I tried paying property taxes and day care bills through Plastiq with ATT earlier this year, and got “Services – UTILITIES-ELECTRIC,GAS,SANITARY,WATER” and 1x (while mortgage payments still gave 3x).

jnrfalcon
jnrfalcon

My rent was also Services – MISC GOVERNMENT SERVICES last month. Charged somewhere around 15th, statement on 4th. Earned 3x.

foobar
foobar

Indeed, just confirmed 3x for my May 10 mortgage payment as well, despite the different category. w00t!

Darv
Darv

My first attempt on this was with CSP with transactions June 1 which posted June 4th and they posted as travel.

deerseason
deerseason

Haha dammit this and the Northpointe deal were high on my to-do list.

Vic
Vic

Not the least bit surprised. Saw this coming a mile away.
This was doomed the day it was found.

goodguys21
goodguys21

My last payment on May30 coded as 3x on CSR

paul smith
paul smith

I paid rent on June 2nd with Ink Preferred and it showed at travel.

Bill
Bill

FYI – Chase has been including language in letters, such as new card mailings, reminding business card users that business cards are for business purposes only.

Dukie02
Dukie02

PNC Premier Traveler still posted as travel in late May. Was able to reimburse nearly $1000 in rent payment this month using travel credits I had on the card (works very similar to Barclays A+ or CapOne Venture). The card only earns 2% back flat, so no spend bonus, but did get credit as travel which was then reimbursable.

HarryTheFirstHandle
HarryTheFirstHandle

Lets not write this off yet – could be a temporary glitch. I’m hoping, yes, but also I think everyone gains on this…Chase, Plastiq and us. Who would stop something that is Win-Win-Win?

TG
TG

Plastiq is likely losing money by coding as travel. It has a high interchange fee

HarryTheFirstHarry
HarryTheFirstHarry

Losing money as compared to regular non-travel coding yes, but they are also getting lots of people to use their service and this is a category where each payment is likely in hundreds and thousands of dollars making the per transaction fee average lower. Again just guessing since I dont know what the typical interchange fees are…I would think certainly less than 2.5% that they charge us.

TG
TG

2.3-2.4% goes directly to the issuing bank. That’s excluding any merchant fees Plastiq has to pay to their payment processor.

https://usa.visa.com/content/dam/VCOM/download/merchants/visa-usa-interchange-reimbursement-fees.pdf

Tad
Tad

Exactly. It’s a loss-leader.

P H
P H

Dang it just made a payment this morning.. 🙁 i’ll see how it codes in a couple days but sounds like it’s not optimistic. Oh well, you win some and lose some in this game.

J.M.
J.M.

This means that RadPad is looking better for USB Altitude Reserve, since you can use ApplePay, netting the equivalent of 4.5x points for airfare. Their rate is higher, but there is some room still to garner a few travel credits.

Tim
Tim

what documents to sent to RadPad ? confirmed 4.5x points?

J.M.
J.M.

Not sure but radpad allows ApplePay using the app which means 3x pts (equal to 4.5 when redeemed for air fare).

boomX
boomX

Issue with USB Altitude Reserve – It’s a Visa Infinite & has high IC.

https://www.doctorofcredit.com/radpad-sends-e-mail-warning-higher-fees-reason-csr-no-longer-earns-3x/

J.M.
J.M.

are you suggesting that RadPad would somehow stop allowing the card to be used, bc of the high IC fee rate?

ildc
ildc

What about the Citi Prestige? Also coding as 1x?

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