Contents
The Offer
- Plastiq is offering some customers $10 USD gift card for every $2,000 USD in total payments you make with your American Express card (can be done 5 times)
Our Verdict
Plastiq recently had a offer for lower fees as well. Neither offer is super exciting but if you were going to make payments anyway it could be useful.
Hat tip to MtM
A different Plastiq promotion –
“$30 gift card FOR EACH $2,500 USD in total payments before December 31, 2021”
I did $10,000 and only received one $30 gift card. In hidden terms they say LIMIT 1 gift card.
Who reviews the promotions? $30 for each $2500 in spend sounds like $10,000 should have earned 4 gift cards..
I received notifications for two promos, both ending 9/30. The promo noted above limited to Amex and max 5x$10 GCs, the other for any payments, same $10 for every $2k, max 3. Unclear whether these are stackable or which one would apply if you’ve opted in to both (terms indicate that you must click through from the email, at which point all payments after apply). I’d opt in to both, but I’ll hit 3 on the “all payments” promo and would only hit 2 on the Amex specific promo, so wouldn’t want the Amex promo to invalidate the all payments promo. A bit confusing that they’ve sent both without terms that address overlap.
I dont know how Plastiq can survive, normal users won’t use it unless for card welcome bonus. Why business want to use it at 2.85% fee?
Cash flow management. Fee becomes a tax write-off for businesses.
These offers are hysterical. They sent a lot of amex promo emails as if it was a great deal. Getting $10 on $57 is not sensible.
Unless you find value in Plastiq to pay bills that can’t be paid with CCs and meet high value spend targets for SUBs, etc. Yes, I know there are cheaper MS options, but few are this easy and the benefits for me outweigh the costs. These promos bring down the costs further, so more than happy for Plastiq/Amex to keep throwing them out there.