Plastiq Promo: 2% Fee For Paying Bills With Amex (Vs. 2.5%)

6
713

Through the end February, you can pay your bills with your American Express card via Plastiq with just a 2% processing fee instead of the usual 2.5%.

This is good news for those of you who recently signed up for Amex cards with high minimum spending requirements like the Business Platinum Card ($15,000 in three months for the 100,000 Membership Rewards) or the Business Gold Rewards Card ($5,000 in three months for 50,000 Membership Rewards).

16010686_10154893211723879_1916768574_o

Credit card links have been removed from posts and added to the menu bar at the top of every page of MileValue under the heading Top Travel Credit Cards.

But should you pay your bills on your Amex via Plastiq if you’re not trying to meet a minimum spending requirement? Probably not, but that depends on how much you value Membership Rewards. We value them at 2 cents each, so to us, paying a 2% fee to earn them is like breaking even. Read Is Plastiq Worth It? Paying Your Bills Online with Credit Cards to Earn Miles to learn more.

Back up… what’s Plastiq?

Plastiq is an online bill payment processing system that “empowers you to use your existing debit and credit cards to pay any bill, regardless of acceptance”. The normal charge for that convenience is 2.5% of each payment on a credit card and 1% on a debit card. At the moment they accept Visa, MasterCard, and American Express. You can pay with Visa, MasterCard, and American Express gift cards as well but the 2.5% credit card fee is applied.

I’ll let their infographic explain the rest.

screen-shot-2017-01-12-at-3-48-18-pm

Who and What You Can and Cannot Pay via Plastiq

Examples of Who and What You Can Pay

  • Anyone providing a good or a service
  • Tuition and housing fees
  • Taxes (income and property)
  • Rent
  • Utilities
  • Insurance
  • Mortgages
  • Car payments
  • Home loan payments
  • Home repairs/construction

Examples Who and What You Cannot Pay

Never Used Plastiq?

Register via my referral link. When you make you first payment of at least $20, you’ll get 200 “Fee Free Dollars”, meaning you can make $200 in credit card payments free of any processing fees.

What to Do

You don’t have to do anything specific to activate the processing fee discount aside from using your American Express to charge the payment and making sure it’s scheduled for no later than February 28, 2017.

If you’re going to use Plastiq to pay any bills this month or next month, make sure to give the bill plenty of time to arrive before it’s due since Plastiq has to send it in the mail.

The following statement is from Plastiq.com’s terms and conditions page:

“Delivery of funds to the Merchant typically takes between forty-eight (48) and seventy-two (72) hours but may take additional time.”

Bottom Line

You can pay your bills on your American Express card on Plastiq.com through the end of next month at a 2% cost versus the normal 2.5%. Meeting the minimum spending requirements on American Express cards is a little cheapier and easier for the time being.


Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

The comments section below is not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all questions are answered.

If you liked this post, sign up to receive one free daily email every morning with all of the day’s posts! You can also follow MileValue on Twitter and Facebook.

6 COMMENTS

    • Plastiq’s blog post about the promo says: ” Offer does not apply to payments scheduled during the promotional period which are set to process after the promotional period.”

      So I guess the answer to your question is going to depend more on the person/institution accepting the payments (and whether or not the bills you’re trying to pay would actually be processed before the end of February).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.