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Plastiq will have a reduced fee of 1.75% when you use a Mastercard credit card to schedule 6+ future rent or mortgage payments through September 30, 2016, at 11:59 pm Pacific Time.
I’ll show you how to lock-in the lower transaction fee.
Plastiq’s Offer Is Welcome News
Link: Sign-up for Plastiq
Plastiq is lowering their fee for rent or mortgage payments! But in order to qualify, you must follow these rules:
- Schedule 6 or more payments, as far into the future as you’d like
- Make sure those payments are for rent or mortgage
- Use a MasterCard
- Do it before September 30, 2016, 11:59 p.m. Pacific Time
This is a great way to help folks meet minimum spending requirements. Especially after RadPad abruptly ended their free rent promotion yesterday!
For example, if you recently signed-up for the Bank of America Virgin Atlantic credit card, and are trying to figure out how to spend $12,000 in 6 months to earn 50,000 Virgin Atlantic miles, this could help you with a good portion of your spending!
This deal is also a great way to earn extra credit card rewards inexpensively. Think of it as buying points at a discount.
For example, if you use your Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard® card to pay 4,000 in rent, you will receive 4,000 American Airlines points for a fee of $68. ($4,000 rent payment X 1.75% service charge = $68 fee) That’s $50 cheaper than you would pay for the same amount of miles on the American Airlines website! And, you can save the points toward Big Travel!
You can also use cards like the Citi Double Cash card or Barclaycard Arrival Plus World Elite Mastercard, which both earn at least 2X in rewards. With the Citi Double Cash card, you’d get 1% cash back on purchases and 1% cash back on payments. Using these cards more than makes up for the transaction fee, but won’t earn many extra rewards.
Still, if you’re trying to unlock a sign-up bonus, this could be a quick way to do it. As always, run the numbers to make sure this deal is worth it for your situation!
Will you take advantage of the limited-time Plastiq promotion?