Posted by William Charles on September 11, 2019
Manufactured Spending

Published on September 11th, 2019 | by William Charles

28

[Targeted] Plastiq: Earn Up To 72,000 Fee Free Dollars

The Offer

  • Plastiq is offering some users up to 72,000 in fee free dollars to use towards future payments.
    • For domestic check, wire, or ACH payments: make a single payment of at least $2,000, and Plastiq will credit you 2,000 FFDs
    • For international payments: make a single payment of $20,000 or more to a new international recipient using our new service, and Plastiq will credit you 30,000 FFDs.
    • Forex payments: make a single payment of $20,000 or more via our Forex program, and Plastiq will credit you 40,000 FFDs.

The Fine Print

  • Valid on payments made by September 26th, 2019

Our Verdict

Looks like this is targeted towards big spenders and those doing international payments.

Hat tip to swirlhawk



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G Soros
G Soros

well no worries I’ll just dump 20k into my Forex account via credit card. Anyway have a nice week!
G Soros

Kumar
Kumar

Lately, I have not been targeted with any plastiq special offers ever since I took advantage of their mistake and scheduled payments for 3 years at 1.5% fees 🙂

Rabbmd
Rabbmd

Weird… same thing has happened to me

Sevillada
Sevillada

You two are not alone 🙁

Dan
Dan

I did 8 years (99 months) lol. Still going strong

Steve

Are you saying you still get targeted for Plastiq promo offers?

Dan
Dan

Yes. I still seem to be targeted on all of their attractive offers

Stryker
Stryker

What’s the monthly payment limit?

barterback
barterback

Do Plastiq accept mortgage payments thru Visa now? They stopped but made a lot of changes recently.

Joe S
Joe S

No, Mortgages are still Discover and MC

Sevillada
Sevillada

Someone is missing a 0 🙂

WR2
WR2

Finally got targeted for a Plastiq promo, never have been before. The difference this time is I had no payments scheduled, whereas normally I would have at least one rent payment scheduled. So wait until last minute to schedule payments if you want to be targeted for Plastiq promos.

dood
dood

I got it. So use a debit card for $2000 bucks at 1%, get 2000 FFD. Good deal.

Steve

The terms say you need to use credit card at 2.5% fee.

Steve

I got this email today (a day later than some other people). I’m not a huge spender on Plastiq; maybe $3000-$7000 each month.

Does “domestic check, wire, or ACH payments” include electronic payments to Chase mortgage? (I’m guessing yes, though the website says “electronic” for my Chase payments, not “ACH”, which doesn’t exactly match the terms of the offer).

The terms in the email say “20,000 FFDs for a domestic check, wire, or ACH payment” but I think that’s just a typo; the email elsewhere says 2,000, and the terms mention $2,000 as the spending amount.

I guess payments with debit card (1% fee) won’t qualify, since the terms say “must be processed with 2.5% Plastiq fee to qualify” and “must be made with a credit card”.

So, since I won’t be able to take advantage of the international/forex parts, it’s basically like getting a 1.25% fee on $4000 of payments (with $2000 in September, and $2000 in a later month; the terms say “FFDs will be applied to customer accounts on October 15th or earlier”). Not amazing, but better than nothing.

Jason
Jason

I was going to use Plastiq anyhow this month to finish off my CIP MSR, so it’s not amazing but it’s a discount on something I was already planning on doing before I was given the offer.

Steve

What are you paying with CIP? (I’d like to pay mortgage with it, but as far as I know that wouldn’t be allowed since CIP is Visa)

Jason
Jason

Apartment rent.

slowbrake
slowbrake

I missed the mental math, thanks for putting in context as 1.25% fee.

Dan
Dan

Or to put it another way, assuming you earn 2% CB on your CC,

$2050 ($2000 payment + $50 fee) x .02 CB = $41 in rewards (-$9 at this point)

$2000 payment (no fee for 2k FFDs) x .02 CB = $40 in rewards (+$31)

TomJ
TomJ

I just got the email and I rarely use Plastiq. I have used it from time to time to take advantage of some of the special deals.

WJ
WJ

I have received this email Offer:
Get up to 72,000 Plastiq Fee Free dollars ( FFDs) to use towards future payments.
Here’s how it works, from September 11th to September 26th you can make a single payment in any or all of the categories below and earn up to 72,000 FFDs. The Plastiq FFDs will be applied to customer accounts on October 15th or earlier (customers will be notified via email to confirm the FFDs have been credited).
(1x) For domestic check, wire, or ACH payments: make a single payment of at least $2,000, and Plastiq will credit you 2,000 FFDs.
(1.5x) For international payments: make a single payment of $20,000 or more to a new international recipient using our new service, and Plastiq will credit you 30,000 FFDs.
(2x) For Forex payments: make a single payment of $20,000 or more via our Forex program, and Plastiq will credit you 40,000 FFDs.

Ken
Ken

Can you pay plastiq with a IHG credit card through Chase but it is a MC

Dan
Dan

Depends on what you’re paying but MC seems to be the most inclusive, so likely it will work.

Plastiq has restrictions on what you can pay with what type of card. Notably, you can only pay mortgage with a MC or Discover (no Visa/AmEx). DoC has a great write up on Plastiq for more info: https://www.doctorofcredit.com/plastiq-review-use-credit-card-pay-mortgage-rent-bill/

Also TIL, Chase has a MC card. I thought Chase was 100% Visa

Steve

I got an email on the 18th that says the 72,000 offer is extended until September 30, 2019; and they added another offer (for me at least; I don’t know if it applies to everyone): 1% fee on 3 payments less than $2000 each.

losingtrader
losingtrader

So, can I make my mortgage payment using Citi double cash mastercard on Plastiq and get 2% back…and now 2 TYP , or is this treated as a cash advance?

Steve

I got an email on 10/9 saying I got the 2000 FFDs from this offer. But the FFDs don’t appear in my account. Anyone else? Maybe it’s just a temporary glitch that’ll get fixed tomorrow.

Steve

Plastiq fixed their glitch; the 2000 FFDs show in my account now, dated 10/10.

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