Pay Your Mortgage with Plastiq for 1.75%

plastiq 175

The Offer

Schedule at least 6 rent or mortgage payments with your MasterCard, by September 30, and lock in a 1.75% rate (.25% lower than normal) on those payments.

How It Works

1. Schedule 6 or more payments, as far into the future as you’d like.
2. Make sure those payments are for rent or mortgage.
3. Use your MasterCard.
4. Do it before September 30, 2016, 11:59 p.m. PT.

You can find the full terms here.

Name / LinkOfferFrequent Miler Notes
PlastiqWhen you sign up for Plastiq (which lets you pay bills via credit card) with my link, you'll get $200 worth of fee free payments and I'll get $400 worth of fee free payments after you make a payment of at least $20Plastiq makes it possible to pay mortgage, rent, and many other bills via credit card. The usual credit card fee is 2.5%, but they often run lower-fee promotions.

Last updated on December 20th, 2018

About Nick Reyes

Nick Reyes is a (fairly) regular guy with an animalistic passion for maximizing the value of miles and money to travel the world in comfort and style. There is little in life that he loves more than finding a fantastic deal and helping you shop smarter & harder to achieve your travel dreams.

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It’s not too late – Deals still alive as of 09/25/2016 - Frequent MilervincentGreg The Frequent MilerSteveXescot Recent comment authors

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JL100
Guest
JL100

It should be 3 months – don’t they understand the credit cards’ time frame?! 🙂

Pat
Guest
Pat

I don’t get it; is there any way to make this into a points-earning proposition? If not, why do I want to pay the 1.75% charge (even if it’s normally 2%)?

Noah Kimmel
Guest
Noah Kimmel

perhaps if you are trying to hit a big sign up bonus and are willing to “pay” 1.75% for the bonus and the ~1% rewards, its not too complicated or costly. Otherwise, I don’t know any category bonuses or 2% mastercards that make this attractive from a sustainable perspective

SDO
Guest
SDO

The Citi Double Cash card is a mastercard, FWIW.

Mser
Guest
Mser

Why? Because he gets $400 in fee-free payments if you’re that stupid and use his link.

Greg The Frequent Miler
Admin

As Noah wrote, this is ideal for situations where you need to meet minimum spend requirements. Personally I much prefer to pay a small fee to meet minimum spend requirements easily than to run around buying and liquidating gift cards as many people do.

Can also be good for:
1. Retention offers (e.g. Citi sometimes offers 2 extra points per dollar)
2. Big spend bonuses. Some credit cards offer bonuses when you meet a spend threshold
3. Cards that offer very high everyday rewards. As SDO mentioned, the Citi Double Cash card gives 2% cash back, so this would be a slight money maker
4. Cards that offer qualifying category bonuses. The only one I know of that fits here is the AT&T Access More card which is known to give 3X for Plastiq rent and mortgage payments.

Jedi
Guest
Jedi

Greg:

I know in your Plastiq article that you mentioned ATT codes as 3X for business services, but NOT other services. So Rent & Mortgage Payment category is confirmed 3X? Is it any category but other? I am curious as this could be a long term money maker with 3X on many things. Thanks for your Lab Work!

Greg The Frequent Miler
Admin

I see the confusion. There’s a category in Plastiq called “Other Services” or something like that. That’s the one that I found does NOT code as 3X. I haven’t tested rent or mortgage but I’ve read in another blog (I forget which) that both did code as 3X

Ryan U
Guest
Ryan U

Shawn,

So if I use your link to sign up, I will get a $200 worth of fee payment. This would put this deal pretty sweet. My mortgage is $1500x 1.75%= $26 in fees, but I will have $200 to offset this amount. Is this correct? I will pay rent and use up my $200 in 7 months and stop.
A potential 2% cashback on mortgage payment.

Secretary Toaster
Guest
Secretary Toaster

Nope. $200 * .0175 = $3.50

dixieboz
Guest
dixieboz

I’m still confused, even with the comments. Can you clarify please? Do you get the points credits for charging these monthly payments? As @Ryan suggests, does the $200 fee credit go towards his $26 fee, until he runs out at month 7? Thanks!

DJ
Guest
DJ

i think $200 credit means your total fees ($26) is reduced by $200 * 0.175 = 3.50 like Secretary Toaster said.

Greg The Frequent Miler
Admin

Another way to think about it is as follows:

If you have $200 in fee free payments, then you can make one $200 payment without paying any fees.

If, instead, you make a $500 payment, then $200 of that payment would be fee free and you would pay fees only on the remaining $300

Henry
Guest
Henry

Any idea how long will the promotion last?

RS_WI
Guest
RS_WI

4. Do it before September 30, 2016, 11:59 p.m. PT.

escot
Guest
escot

Interesting promotion. Yet about the requirement to schedule into the future, how will this work if you have a mortgage payment that fluctuates from month to month? (My loan is keyed to the declining mortgage balance and # of days in each month — as such, the amount due can vary $10-15 each month – and that’s separate from any interest rate changes. Can that be scheduled, or is the promo only for “fixed” amounts into the future?)

Also, what happens if you happen to close a card during the 6 months? Can you substitute w/ another M/C? (happens I have a BA/Amtrak M/C that I likely will downgrade at year end)

Greg The Frequent Miler
Admin

I believe you’ll have to pick a single fixed amount.
I’m not 100% sure what happens if you change to a different credit card, but I know that Plastiq has told me during past promotions that editing the recurring payment will cause it to reprice the fee at whatever the current going rate is. So, I think that you won’t be able to change the card after September 30th.

SteveX
Guest
SteveX

Off topic, but if you do Plastiq to unload VGC/MGC/AGC it sends all these small checks. Anyone know a way to get them to combine them? Even from there perspective if you’re paying the same person wouldn’t it benefit them to mail 1 large check vs lots of little ones? Do you know if that’s possible?

Greg The Frequent Miler
Admin

I don’t think there is any way, but I’d be happy to be proven wrong

vincent
Guest

You can use the following link to register Plastiq and get $200 fee free dollars

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