Plastiq Changes For Visa Transactions: Lower Limits Or Cash Advances


If you’ve been using – or were planning to use – a Visa card with Plastiq, there are some important changes effective from June 1 that you need to be aware of.

Plastiq Visa

  1. Payments using personal Visa cards issued by Chase will be subject to a lower limit of 20% of your credit limit.
  2. Payments using personal Visa cards from other issuers (other than Capital One) will code as a cash advance. That means you’d incur cash advance fees and wouldn’t earn any credit card rewards.

There are still some Visa cards that will be unaffected by these changes:

  • Capital One personal Visa cards.
  • Visa business credit cards.
  • Visa corporate, debit and prepaid gift cards.

Plastiq has advised that they’ll be contacting any customers with scheduled payments who’d planned on using a Visa card. They’re also advising that this is a temporary situation and that they’re working with Visa to ensure this isn’t an ongoing issue.

In the meantime, be careful with which type of Visa credit card you use for Plastiq payments. To check if you’ll be affected, they’ve produced this helpful guide listing most of the main Visa credit cards you might possibly use.

You can currently get fee-free Plastiq payments up to $250 when using a Mastercard and paying with Masterpass, so that’s a cheaper – and potentially safer – option.

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