Should You Use Plastiq to Pay Rent, Loans, Utilities, & More With a Credit Card?

Signing-up for credit cards through partner links earns us a commission. Here’s our full Advertising Policy.

Should You Use Plastiq to Pay Rent, Loans, Utilities, & More With a Credit Card?

Million Mile SecretsShould You Use Plastiq to Pay Rent, Loans, Utilities, & More With a Credit Card?Million Mile Secrets Team

Signing-up for credit cards through partner links earns us a commission. Here’s our full Advertising Policy.

There’s a new way to pay bills that can’t normally be paid with a credit card.  Plastiq says you can pay any bill (businesses or individuals) using their service and they’ll charge you a flat 2.5% fee.

But for a limited time, you’ll only pay a 1.99% fee when you use your MasterCard or American Express card!

That’s cheaper than other bill payment websites, like Evolve Money or Radpad (which add a ~3% fee).

Should You Use Plastiq To Pay Rent Loans Utilities More With A Credit Card
You Can Pay Tuition, Rent, Mortgage, Car Payments, and More With Plastiq

This could be a good way to meet minimum spending requirements or earn miles and points on big bills like tuition or property taxes.  But it’s not for everyone!  I’ll explain.

What’s the Deal?

Link:   Plastiq

Link:   How Plastiq Works

Plastiq is a bill payment service that started in Canada, but recently expanded to the US.  They say you can use a credit card to pay any bill or invoice, including:

  • Rent and utility bills
  • Tuition and housing fees
  • Home repair and construction
  • Income and property taxes
Should You Use Plastiq To Pay Rent Loans Utilities More With A Credit Card
Use Plastiq to Meet Minimum Spending Requirements and Earn Miles & Points

Because Plastiq charges a lower fee (2.5%) than most other bill payment services, this could save you money.

And it’s a better deal now if you use your MasterCard or American Express.  You’ll only pay 1.99% for a limited time.

That said, I don’t normally recommend paying a fee to use a credit card for bill payments, because the fee usually negates the value of the miles and points you’ll earn.

But if you need to quickly meet minimum spending requirements, this could be a good deal for you.

How It Works

To use Plastiq, 1st create an account using your name, email address, phone number, and a password.  They’ll send you an email to verify your email address, then you can start paying bills.

Should You Use Plastiq To Pay Rent Loans Utilities More With A Credit Card
Register for Plastiq by Entering Your Details

You can add credit cards to your account and choose which 1 to use to pay certain bills.  Currently, Plastiq accepts Visa, MasterCard, and American Express.

Should You Use Plastiq To Pay Rent Loans Utilities More With A Credit Card
Add Your Visa, MasterCard, or AMEX to Plastiq to Start Paying Bills

Adding payees is straightforward.  Some payees are already registered in their system, but most of these are Canadian businesses and institutions.

Should You Use Plastiq To Pay Rent Loans Utilities More With A Credit Card
Many of the Registered Businesses on Plastiq Are Canadian, but You Can Add Any Payee You’d Like

To add your own payee, enter their name, address, telephone number, and the type of payment you’ll be sending them (for example, tuition, rent, or utilities).

Should You Use Plastiq To Pay Rent Loans Utilities More With A Credit Card
Add Your Payee’s Details and Type of Payments You’ll Send

Once you’re ready to make a payment, select your payee and enter your account information, payment amount, and credit card validation code.

Plastiq will automatically add the fee to the payment amount.

Should You Use Plastiq To Pay Rent Loans Utilities More With A Credit Card
Include Your Account Number, Name, and Payment Amount, Then Submit Payment

Plastiq says electronic payments take 3 to 5 days to process.  And for paper checks, you should allow ~1 week for your payment to arrive.

That said, folks on FlyerTalk report delays in mailing paper checks.

Is It Worth It?

It’s usually NOT worth paying a fee to earn miles and points, because the fee usually cancels out the value of what you’ll earn.

Plastiq is NOT meant to be a person-to-person money transfer service.  But you can pay individuals for goods and services (like your handyman or babysitter).  Just be sure to indicate on the payment page what type of bill you’re paying.

Commenters on Doctor of Credit and View From the Wing have mixed information regarding whether gift cards are accepted.

Plastiq payments (with the exception of a couple of Canadian banks) should post as a purchase.  So there shouldn’t be a cash advance fee.  And you’ll earn miles and points for the payment.

Should You Use Plastiq To Pay Rent Loans Utilities More With A Credit Card
You Should Earn Miles and Points When You Pay Utility Bills With a Credit Card Through Plastiq

That said, I haven’t (yet) experimented with Plastiq, so I don’t have personal experience.  I’ll report back when I do!

Note:   If you’re paying income taxes, there are cheaper ways to pay by credit card.  Some payment processors charge fees as low as 1.87%, and the charge definitely codes as a purchase (and earns miles, points, and cash back).

This could be a good deal for folks who are struggling to meet a minimum spending requirement.

Bottom Line

Plastiq is a new online service that allows you to pay bills (businesses or individuals providing you with goods and services) with a credit card for a flat 2.5% fee.

And for a limited time, payments made with MasterCard or American Express cards will only be charged 1.99%!

Their fee is lower than many other bill payment websites.  And most banks treat Plastiq payments as a purchase, so you won’t be charged a cash advance fee and will earn miles and points.

It’s usually NOT a good idea to pay a fee to use a credit card anyway, because the fee usually cancels out the value of the miles & points you’ll earn.  That said, 1.99% is a very good rate.

But if you’re in a hurry to meet a big minimum spending requirement, this could be worth it for you!

Have you tried Plastiq?  I’d love to hear about your experiences.

If you liked this post, why don’t you join the 36,000+ readers who have signed-up to receive free blog posts via email (only 1 email per day!) or in an RSS reader …because then you’ll never miss another update!

Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred named "Best Credit Card for Flexible Travel Redemption" - Kiplinger's Personal Finance, June 2018
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry that something went wrong, repeat again!


by Newest
by Best by Newest by Oldest

DO NOT use PLASTIQ! I had Plastiq account for over a year and initially setting up, they gave me such difficult time as I was paying my rent using credit cards and I rent from private owner not a management firm! So I had to provide my lease multiple times, and even provided cancelled checks and they asked for my lease many times! Anyway, fast forward to this year, as I am trying to meet minimum spend, my rent check arrived late and Plastiq rep stated they would cover any late fees!! I rent from private owner and it’s the same address and also many people have roommates, etc and previously for a year, there were no issues and then out of no-where, Plastiq asked for my lease again and documentation of late fee! Anyway, here is the horror, out of no-where they closed my account and told me you are making “peer-to peer” payments and not rentals! Excuse me, and then I sent them an email, stating that was not accurate and then I contacted them on Twitter and guess what, they blocked me, such horrible service, more on fraudulent side as they didnt want to reimburse me for late fee, then they closed my account out of no where! Such unethical/fraudulent company, be wary and they have no phone support, only chat but previously, they even disabled the chat feature on my account!!! Stay far away!!

May I post my referral link here for Plastiq? If I may,

I would appreciate if the next person would use my referral code to get $500 FFDs after making $500 in bill payments. Pass it along. With gratitude.

Have you tried Plastiq? I’d love to hear about your experiences.

i tried their services for three payments. On all three occasions a letter was sent following my successfully getting thru their form requiring the reasonable data like amt and address and bill number that would enable them to get a check sent to the correct place and have it credited to thecorrect account.

The problems then followed. All three places were flagged as “needing a review before payment could be sent” that review involved four items of information not specified as of yet in the bill payment process.

1. A description of the service or produce that you are paying for:

2. Any correspondence or contracts between you and the payee

3. A link to a social media account (e.g., Facebook, Twitter, etc.) or website for the payee

and a couple more;

By the time i responded with details of the information to their “user case initiated:” the check’s ‘promised by’ date had come and gone and their final payment took longer than promised and was late. PITA and only worth it for large sums that might meet a cc spend requirement, and just for that. Not worth it for anything else.

I’m trying it on my car payment to capital one auto with a double cash. It will basically be like writing the check as the fee will cancel out, but will also give it some usage as double cash seems like low limits compared to my others I haven’t been using it as much. It’s not due for a couple of weeks so I have plenty of time if a problem arises. Plus I think they can electronically submit it.

Plastiq service so far is reliable.. the mortgage payment takes about 5-7 days. The utility payments surprsingly takes 4-5 days. I still send the payments 15 days before the payment due date just in case.
The credit card rewards help decrease the fees a lot (using my Citi Double cash back CC 2%!).

Load more