Plastiq is reducing its fee to 1.5% this month! That’s pretty great news if you’re trying to meet credit card spending requirements or looking to earn some extra miles without manufactured spending.
Normally, Plastiq charges a 2.5% fee, so this is a substantial discount for those who use Plastiq to pay bills or make mortgage payments with a credit card. You can enjoy the reduced fee on to three payments ($10,000 or less each). This may be a targeted promotion. If you haven’t gotten an email from Plastiq, go ahead and start a payment. Fee info is on the second to last step, so you still have time to back out if you’re not getting the promotional rate.
Plastiq 1.5% fee promo details
If you want to get in on Plastiq’s 1.5% fee promotion this month, here are the details as provided by Plastiq
- Select a recipient/vendor you would like to pay
- Enter a payment amount up to a maximum of $10,000
- Submit a payment using your preferred credit card
- On the payment review page, make sure your payment is scheduled to be processed before 11:59 PM EST on June 30, 2019.
- You can submit up to 3 one-time payments like this before 11:59 PM EST on June 30, 2019
Getting the most out of this promotion
If you want to maximize the 1.5% Plastiq fee promotion, I recommend focusing on completing credit card spending requirements. With banks like American Express doubling down on manufactured spending, Plastiq is a good way to get large chunks of spending out of the way.
It’s also a good opportunity to get some lazy spending done. I for one don’t blame anyone who would rather pay a fee than stand in line at Walmart to buy money orders. Being able to earn points and miles without leaving the house is worth a small fee for some people.
I use Plastiq to make payments with merchants that don’t accept credit cards. This includes things like monthly pest control services and mortgage payments. You can also pay your rent, student loans, and virtually everything in between.
I once used Platiq to make a $14,000+ payment to a mobile app vendor. I completed the Amex Platinum spending requirement and work reimbursed me for the payment. All I had to do was pay the fee…which was largely off-set with Plastiq referral fees.
If you’re looking to make mortgage payments through Plastiq, keep in mind that you can currently only use a Discover or MasterCard credit card. If you’re earning 3% cash back with the Discover It Miles Card, this could work out nicely. Even with a 1.5% promotional fee, you’ll make a 1.5% profit on your mortgage payment. If you’re paying rent, this restriction does not apply.
Plastiq’s Referral Program
You can refer friends and family to Plastiq. When they make their first $500 payment, you’ll get 1,000 Fee-Free Dollars while they’ll get 500. In other words: You’ll able to make $1,000 worth of payments without paying fees.
You can choose whether to apply FFD’s to your payment on the check-out page. That works out great if you’d rather take advantage of the 1.5% Plastiq promo and save your FFD’s for another time.
If you’re new to Plastiq and would like a referral link, here is mine: https://try.plastiq.com/280806
Are you going to take advantage of this Plastiq promotion? Which credit cards will you use to get the most rewards possible?
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