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For more information, please see How we make money.

Advertiser Disclosure

We are an independent publisher. Our reporters create honest, accurate, and objective content to help you make decisions. To support our work, we are paid for providing advertising services. Many, but not all, of the offers and clickable hyperlinks (such as a “Next” button) that appear on this site are from companies that compensate us. The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear. While we strive to provide a wide range of offers, our site does not include information about every product or service that may be available to you. We strive to keep our information accurate and up-to-date, but some information may not be current. So, your actual offer terms from an advertiser may be different than the offer terms on this site. And the advertised offers may be subject to additional terms and conditions of the advertiser. All information is presented without any warranty or guarantee to you.

This page may include: credit card ads that we may be paid for (“advertiser listing”); and general information about credit card products (“editorial content”). Many, but not all, of the offers and clickable hyperlinks (such as a “Apply Now” button or “Learn More” button) that appear on this site are from companies that compensate us. When you click on that hyperlink or button, you may be directed to the credit card issuer’s website where you can review the terms and conditions for your selected offer. Each advertiser is responsible for the accuracy and availability of its ad offer details, but we attempt to verify those offer details. We have partnerships with advertisers such as Brex, Capital One, Chase, Citi, Wells Fargo and Discover. We also include editorial content to educate consumers about financial products and services. Some of that content may also contain ads, including links to advertisers’ sites, and we may be paid on those ads or links.

For more information, please see How we make money.

Warning: Some Plastiq Payments Coding as a Cash Advance!

October 19, 2016 By Million Mile Secrets

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Via Doctor of Credit and folks on Reddit, certain Plastiq payments are coding as a cash advance when you use a Visa credit card.

This is not good! Because cash advances do NOT count toward minimum spending requirements. And they usually come with high fees and interest charges.

But Plastiq is notifying folks of the potential issue before you confirm your payment method. If you see the warning, I’d recommend using a different card or an alternative service.

Plastiq Visa Warning — Some Plastiq Payments Are Coding as a Cash Advance on Visa Credit Cards. You Should See a Warning Before You Submit Your Payment Information

I’ll explain how you can avoid cash advances and how you can still use Plastiq!

Cash Advance Issues With Plastiq

Link: Doctor of Credit

Link: Reddit

Folks use Plastiq to pay rent, mortgages, and bills with a credit card. These charges usually code as a regular purchase.

Depending on the fees, Plastiq can be a good way to meet minimum spending requirements or earn extra miles, points, or cash back.

But now Plastiq is warning folks that certain payments could code as a cash advance on Visa credit cards. And some folks on Reddit have already seen cash advance charges with cards like the Chase Sapphire Reserve.

I always recommend calling your credit card company and requesting your cash advance limit be set to zero (or close to zero). This way any potential cash advance transactions will get declined.

If you’d like to continue using Plastiq, it’s probably best to use a MasterCard or AMEX card. Plus, Plastiq is offering a limited-time promotion with lower credit card fees when you use these cards.

Or folks who pay rent with Plastiq might hold off until Cozy Pay launches. But this new service might have higher fees.

Bottom Line

Certain Plastiq payments are coding as a cash advance when you use a Visa credit card.

These transactions do NOT earn miles and points or count toward minimum spending requirements. And they also come with fees and interest charges.

I’d recommend contacting your credit card company to set your cash advance limit to zero. This should avoid any potential issues.

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