Plastiq Has a Competitor! Check Out Melio Bill Payment Service (A Good Option for Earning a Small Business Credit Card Welcome Bonus)
Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full Advertising Policy.
Melio is very similar to Plastiq in that it’s a bill payment service you can use to pay payees that normally don’t accept credit cards. The main difference being that Melio is targeting business owners whereas you can use Plastiq to pay things like mortgages.
Melio could be useful when it comes to meet minimum spending requirements to earn the sign-up bonus on a small business credit card, like the Ink Business Preferred Credit Card.
Here’s what you need to know.
Melio Bill Payment Service – Great for Small Business Credit Cards
Melio, just like Plastiq, will send a check to the business you want to pay for a 2.5% fee. You can pay nearly any business bill with a Visa, MasterCard or Discover credit card for a flat 2.5% fee. On their site they say that if you’re interested in using an AMEX card to email them. So I guess they’re currently working to accept AMEX cards in the near future or trying to gauge interest in using AMEX cards.
Melio sends an electronic or paper check on your behalf. So you can pay nearly any bill with a credit card, even if the business doesn’t accept credit cards!
Just note, according to reports, Melio requires your social security number for verification and also likes to speak directly to new users, so be prepared for a phone call if you decide to use their service.
Melio can be useful to meet minimum spending requirements to earn the sign-up bonus on a great small business card like the Ink Business Preferred Credit Card. But personally I’ve never used it, so I can’t vouch for the service.
Let’s say you make a $1,000 payment through Melio. You’ll pay a $25 fee, for a total of $1,025. If you’re close to earning a sign-up bonus it could be worth it to pay $25 for thousands of miles or points.
But if you’ll only earn 2% cash back, or 1 mile or point per $1 spent, it isn’t worth it to pay the 2.5% fee. As always, run the numbers to make sure it’s a good deal for you!
The bottom line is, competition like this is usually a good thing for us consumers. Maybe we’ll see a deal or two from these bill payment services!
If you want more miles & points news, subscribe to our newsletter.
Chase Sapphire Preferred® CardAPPLY NOW
Chase Sapphire Preferred® Card
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
Either $5 or 5% of the amount of each transfer, whichever is greater.
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! :)