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Plastiq is a bill payment service that lets you pay almost any bill with a credit card for a 2.5% fee. For an overview of Plastiq, please see: Complete guide to Plastiq credit card payments.
Currently Plastiq is running a promotion with Mastercard where they’ll rebate part of the 2.5% fee if you do the following:
- Schedule 3 or more monthly mortgage payments by checking the box next to recurring.
- Use a Mastercard.
- Set up the first 3 payments so they are set to process between September 5, 2017 and December 31, 2017 11:59 p.m. EDT.
- Look for a notification of eligibility on the payment review screen.
The result, after rebate, should be that you paid a total of 1.5% in fees.
Note that the size of the rebate is dependent upon how much in fees you paid, so I do not recommend applying fee-free-dollars to these payments.
More details can be found on Plastiq’s blog post, here.
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Anyone know if this will work with a prepaid MasterCard?
I’d expect so, but you’d have to have a large enough balance on the card to cover 3 payments. I don’t think they’ll let you switch cards mid-stream
Any idea if HELOC are considered mortgages with plastiq?
I don’t know
Is there a cashback card that could make it profitable, or is this just for sign up bonuses?
Citi double cash is 2% yielding .5% profit
Any idea if one can do this promotion with two separate cards, each having their own set of 3 payments? For instance one card could be 3 regular payments and the other card 3 extra principal payments. I sent them a text message through the app but no word yet. If you have a plastiq contact and can verify that would be awesome.
I’d assume so, but it will be interesting to hear what Plastiq says if they ever get back to you.
[…] Plastiq is a bill payment service that lets you pay almost any bill with a credit card for a 2.5% fee. For an overview of Plastiq, please see: Complete guide to Plastiq credit card payments. Currently Plastiq is running a promotion with Mastercard where they’ll rebate part of the 2.5% fee if you do the following: Schedule 3 or more monthly mortgage payments by checking the box next to recurring. Use a Mastercard. Set up the first 3 payments so they are set to process between September 5, 2017 and December 31, 2017 11:59 p.m. EDT. Look for a notification of eligibility on the payment review screen. The result, after rebate, should be that you paid a total of 1.5% in fees. LEARN MORE! […]