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If you’re not already familiar with the company, Plastiq is a service that lets you pay bills by credit card where credit cards normally aren’t accepted. For this they charge you a small fee. Even including the rewards you earn, the fee often doesn’t make using the service worth it. In some cases, though, such as trying to meet a high minimum spend on a new credit card, it is a great option to have. I’ve used Plastiq on several occasions now.
The fees for using Plastiq are currently:
- Amex, Visa, MasterCard – 2.5%
- Debit – 1.0%
The fees have been pretty stable at 2.5% for credit cards. For a while the MasterCard fee was only 2.0%, and I took advantage of that to pay a bunch of bills with my Citi DoubleCash card at net zero cost.
However, from now through February 28, 2017, the fee for paying by American Express card has been reduced to 2.0%. My wife and I each received an email describing the promotion. As long as you submit or schedule any payment to process on or before February 28, 2017 using an American Express card, the fee will be 2.0% instead of the normal 2.5%.
As it turns out, I just paid some large bills by Amex via Plastiq back in December 2016 to take advantage of the 2x small business promotion. I used my Starwood card, and paying 2.5% for 2x Starpoints is much better than paying 2.0% for 1x Starpoints, so I am glad I paid my bills then.
(PWaC: Personally, I use the AT&T Access More card to pay my mortgage on Plastiq as it gives 3x ThankYou points for online purchases)
(READ MORE: Yes, you CAN still get the AT&T Access More card)
If you use my referral link for Plastiq, you’ll earn $200 fee free dollars after your first purchase of $20 or more
Do you think you’ll use Plastiq over the next several weeks to take advantage of this promotion?