For starters, Plastiq is an online bill payment site where you can use a credit card to pay bills where you typically couldn’t use a credit card to pay the directly – think of rent, car loans, utilities, school tuition, taxes, mortgage, contractors, accountants, etc. Ultimately, it is an awesome way to earn points and miles! Although, Plastiq does charge a 2.5% fee for using their service. The fees paid can also be a tax write off!
With that being said, they are currently running a promotion for NEW PLASTIQ USERS WHO HAVE A BUSINESS CREDIT CARD. Plastiq has a program where you can earn FFDs (Fee Free Dollars) towards your payment. Typically if you are a new user, after your first payment(s) totaling $500 or more, you’ll earn 500 FFDs. However, if you are new and use a business credit card, after you make $1,000 in payments, you’ll receive 1,000 FFDs. That means after you make $1,000 in payments (and pay the 2.5% fee), you can apply your FFDs to your next $1,000 payment and not pay any fees at all. So all in all, you’ll pay $25 to put through $2,000 on your credit card. This is one way to meet minimum spend requirements and any other spend thresholds you are trying to reach on a particular credit card. To earn the 1,000 FFDs you must sign up through a referral link.
My Experience with Plastiq Overall
I’ve been using Plastiq for over a year now to pay anything from preschool tuition, my mortgage (cannot use a Chase or American Express credit card for this type of payment), my accountant, contractors, etc. There were times last year when I used my Southwest credit card so I could earn points for the Southwest Companion Pass.
I have personally never had any issues with bills not being sent/received, but I always suggest keeping a close eye on it to ensure payment is received. I find Plastiq to be extremely easy to use, especially for a merchant that is already saved to your account. Typically bills take about a week to be received by the merchant.