Published on September 6th, 2017 | by Chuck69
Plastiq: Pay your Mortgage with Mastercard for Just 1.5% Fee
- Schedule 3 monthly mortgage payments to be paid via Plastiq with a Mastercard and pay just 1.5% processing fee (instead of the standard 2.5% processing fee)
This promotion works differently than previous promos: you’ll pay the regular 2.5% fee at time of transaction, and the extra 1% will be rebated back to you in the form of a check mailed to the address on the credit card used for the payment.
Another important thing to note is that if you use Fee-Free-Dollars to cover part of the fee, you won’t get the full 1% back. Without getting too complicated, basically, this promo won’t really stack well with using FFD (though you could end up with a partial rebate).
The Fine Print
- Must have all 3 payments scheduled to be paid before the end of the year. For example, you can schedule today to have one payment pay on October 15, one on November 15, and one on December 15.
- Rebate check will be sent by January 5, 2018
- Max $200 rebate (that would be a total of $20k in mortgage payments)
- Mastercard only
- The screen will show you clearly if you are eligible for this promo
Could be a small moneymaker if you use a Mastercard like the 2% Double Cash or the 2.1% Arrival+ card. Especially worthwhile for someone with a large mortgage or someone looking to meet some sort of spend requirement. Just note that all three charges will be on a single card, you can’t swap it out each month.