topic Re: Anyone noticed Plastiq coding as Utilities? in Credit Cards

Anyone noticed Plastiq coding as Utilities?

Gmood1 — Sat, 12 Jan 2019 15:03:20 GMT

I paid my mortgage early for Feb, in order to work on a SUB. I'm not sure if it will code that way for other lenders?

Wondering if anyone was successful at collecting rewards by using Plastiq in conjunction with a utilities cash back card or even a points Travel CC?

I know Visa and Amex are automatically blocked for mortgage payments.

I'm curious if anyone with the US Bank Cash Plus has used Plastiq and what it coded as?

Maybe even the Huntington Rewards card or the FNBO Business Cash rewards card?

I'm searching for a loop hole in the system. lol

All of these cards give 4 to 5% return, if the CC is used for utilities. I know there are a few more CC's out there that have a utilities reward category as well.

Below is cut and pasted from my Citi online activity.

Category:Services - UTILITIES-ELECTRIC,GAS,SANITARY,WATER

To bad, the Citi Business AA is only giving 2 points per dollar on cellular, satellite, gasoline, office supplies, rentals and American airlines purchases.

Re: Anyone noticed Plastiq coding as Utilities?

Anonymous — Sat, 12 Jan 2019 16:07:38 GMT

I’ve used discover and capital one for plastiq and both record as utilities. I know you didn’t ask Aboht them but sharing data point!

Re: Anyone noticed Plastiq coding as Utilities?

imaximous — Sat, 12 Jan 2019 16:21:58 GMT

I’d’ve tried the USB Cash+ A while ago, but Plastiq says the transaction would be treated as a cash advance. This link shows how cards process transactions with them https://help.plastiq.com/hc/en-us/articles/360005215254-Visa-Personal-Card-Changes

Re: Anyone noticed Plastiq coding as Utilities?

imaximous — Sat, 12 Jan 2019 16:26:54 GMT

So I’ve been using the PayPal combo for 0.5% after their fee.
I charge about $5k a month on Plastiq so that’s ~$25 CB monthly. Better than nothing.
I hope someone finds a better way to maximize my $5k.

Re: Anyone noticed Plastiq coding as Utilities?

Gmood1 — Sat, 12 Jan 2019 16:44:03 GMT

I'll have to try this Max! I have to use a different PayPal account in order to apply for the 2% PayPal card. Since I had the Extras PayPal card, the system won't let me apply for the 2% CB one.
Thanks debtguy for the great info on the Discover!

Re: Anyone noticed Plastiq coding as Utilities?

Anonymous — Sat, 12 Jan 2019 17:01:21 GMT

I will be paying my rent 1 month ahead and pay two month's rent each time. Paying online has a fixed $17 fee, paying 2 months at a time would give me 1% cashback. lol

Theretically i can pay 3 months each time, but a bit worried about paying that far ahead.

Re: Anyone noticed Plastiq coding as Utilities?

imaximous — Sat, 12 Jan 2019 17:03:22 GMT

@Gmood1 wrote:
I'll have to try this Max! I have to use a different PayPal account in order to apply for the 2% PayPal card. Since I had the Extras PayPal card, the system won't let me apply for the 2% CB one.
Thanks debtguy for the great info on the Discover!

You definitely should. There are ways to lower Plastiq’s fees and they run promos from time to time.

Last year, they had one nice promo that eliminated their fees up to $500 payments for a few months if you scheduled recurring transactions. That was a savings of up to $12.50 for every transaction. It saved me a lot of money on fees while earning 3% in CB.

I also think that putting all that spend on the card helped me get a CLI to $25k from the original $10k.

Re: Anyone noticed Plastiq coding as Utilities?

Anonymous — Sat, 12 Jan 2019 17:52:00 GMT

@imaximous wrote:
@Gmood1 wrote:
I'll have to try this Max! I have to use a different PayPal account in order to apply for the 2% PayPal card. Since I had the Extras PayPal card, the system won't let me apply for the 2% CB one.
Thanks debtguy for the great info on the Discover!
You definitely should. There are ways to lower Plastiq’s fees and they run promos from time to time.
Last year, they had one nice promo that eliminated their fees up to $500 payments for a few months if you scheduled recurring transactions. That was a savings of up to $12.50 for every transaction. It saved me a lot of money on fees while earning 3% in CB.
I also think that putting all that spend on the card helped me get a CLI to $25k from the original $10k.

I am about to do this for my real estate tax. The city offers WU payment at 2.95%, so Plastiq is a little better. And when I think about, perhaps time to use Plastiq to send money to the TOTALLY UNRELATED ShortTimeFullParticipant Services Inc

Re: Anyone noticed Plastiq coding as Utilities?

Credit-hoarder — Sat, 12 Jan 2019 18:52:35 GMT

@Gmood1 wrote:
I paid my mortgage early for Feb, in order to work on a SUB. I'm not sure if it will code that way for other lenders?
Wondering if anyone was successful at collecting rewards by using Plastiq in conjunction with a utilities cash back card or even a points Travel CC?
I know Visa and Amex are automatically blocked for mortgage payments.
I'm curious if anyone with the US Bank Cash Plus has used Plastiq and what it coded as?
Maybe even the Huntington Rewards card or the FNBO Business Cash rewards card?
I'm searching for a loop hole in the system. lol
All of these cards give 4 to 5% return, if the CC is used for utilities. I know there are a few more CC's out there that have a utilities reward category as well.

Below is cut and pasted from my Citi online activity.
Category:Services - UTILITIES-ELECTRIC,GAS,SANITARY,WATER

To bad, the Citi Business AA is only giving 2 points per dollar on cellular, satellite, gasoline, office supplies, rentals and American airlines purchases.

FNBO has a business card that gives 4 or 5% on utilities?? I'm going to have to check this out--AFAIK my FNBO Bus. Edition card I've had for the last 3 years gives no rewards at all.

Re: Anyone noticed Plastiq coding as Utilities?

Gmood1 — Sat, 12 Jan 2019 19:33:33 GMT

Yup they have one that has very wide categories. FNBO recently changed their online system. I can't pull up the CCs they offer anymore, even though I have three of them. 😂
If you're not in the service area. The site will block you from viewing them.
However I can pull up the CC by going to the banks that FNBO supplies this card to.

https://www.scsbnet.com/site/small-business/lending/credit-cards/visa/

https://www.tcfbank.com/small-business/credit-cards/business-edition-visa-card-category-rewards

https://www.washingtoncountybank.com/small-business/credit-cards/

The CC is called the Business edition with category rewards.

Re: Anyone noticed Plastiq coding as Utilities?

Anonymous — Sat, 12 Jan 2019 19:56:31 GMT

My rent is due the first of the month. When should I submit a transaction through Plastiq in order for the payment to reach my landlord by the 1st? Don’t want to screw around with potentially being late.

Re: Anyone noticed Plastiq coding as Utilities?

Credit-hoarder — Sat, 12 Jan 2019 20:07:25 GMT

@Gmood1 wrote:
Yup they have one that has very wide categories. FNBO recently changed their online system. I can't pull up the CCs they offer anymore, even though I have three of them. 😂
If you're not in the service area. The site will block you from viewing them.
However I can pull up the CC by going to the banks that FNBO supplies this card to.

https://www.scsbnet.com/site/small-business/lending/credit-cards/visa/
https://www.tcfbank.com/small-business/credit-cards/business-edition-visa-card-category-rewards
https://www.washingtoncountybank.com/small-business/credit-cards/

The CC is called the Business edition with category rewards.

LOL--Turns out this is the card I already have and it's been earning pts the whole 3 years and 3 mos and I didn't even realize it. I've been putting most of my eBay shipping on this card the whole time. Only thing is the points start expiring after 3 years....so I just ordered a $50 Red Loster GC with some of the 63xx pts. I already had.

Re: Anyone noticed Plastiq coding as Utilities?

Gmood1 — Sat, 12 Jan 2019 20:13:28 GMT

@Anonymous
At least 10 days before hand. Since you're using a credit card. You can submit it now. Remember you won't actually have to pay it till the bill is due.
That's why I scheduled mine so early. The mortgage company will receive mine on the 19th of the month for the next couple of months.

Re: Anyone noticed Plastiq coding as Utilities?

DaveInAZ — Sat, 12 Jan 2019 23:27:24 GMT

Plastiq is now coding mortgage payments as utilities? Interesting. I use my PayPal MC Debit that doesn't show you category coding for charges, and my PP Cashback MC just shows "PayPal backup funding". Oh well, I don't have anything better than 2% for utilities and the PP Debit/MC combo gives me 3%, covering Plastiq's fee with a bit extra. But the last time I used my Cap One QS, well over a year ago, I'm pretty sure it showed up as hotel/travel, but my QS is a Visa which doesn't work for mortgage any longer.

Re: Anyone noticed Plastiq coding as Utilities?

Gmood1 — Sat, 12 Jan 2019 23:33:25 GMT

@DaveInAZ wrote:
Plastiq is now coding mortgage payments as utilities? Interesting. I use my PayPal MC Debit that doesn't show you category coding for charges, and my PP Cashback MC just shows "PayPal backup funding". Oh well, I don't have anything better than 2% for utilities and the PP Debit/MC combo gives me 3%, covering Plastiq's fee with a bit extra. But the last time I used my Cap One QS, well over a year ago, I'm pretty sure it showed up as hotel/travel, but my QS is a Visa which doesn't work for mortgage any longer.

I'm guessing any charge through Plastiq will code as Utilities.

Re: Anyone noticed Plastiq coding as Utilities?

imaximous — Sun, 13 Jan 2019 00:10:22 GMT

@Anonymous wrote:
My rent is due the first of the month. When should I submit a transaction through Plastiq in order for the payment to reach my landlord by the 1st? Don’t want to screw around with potentially being late.

When you’re setting up payments, Plastiq asks when you need the payment to arrive by and you select a day on a calendar. Some payments are made electronically and others by check via post office. Yours will probably be sent by check in the mail, so I’d suggest selecting a much earlier date than the 1st. Based on the day you select, Plastiq decides when to charge your credit card so don’t wait too long because they may not have enough time to process and deliver payment, or they may want to charge you an additional fee.

Re: Anyone noticed Plastiq coding as Utilities?

Life_take2 — Sun, 13 Jan 2019 00:34:29 GMT

@Anonymous wrote:
My rent is due the first of the month. When should I submit a transaction through Plastiq in order for the payment to reach my landlord by the 1st? Don’t want to screw around with potentially being late.

It is 8 business days (Sundays excluded) for them to send out a check via snail mail. They did start offering an "expedited" delivery service that is only 2-3 business days but is prohibitively expensive ($50+ extra) to do. So, to reach by the first, I would imagine the 20th to 22nd of the month would get it there without much issue.

Re: Anyone noticed Plastiq coding as Utilities?

Anonymous — Sun, 13 Jan 2019 03:29:36 GMT

Imax and LT...thanks for that info. Super helpful. Didn’t know you put in a due date. Will probably try it out at some point when I have a SUB to make. Otherwise I guess I could use my Amex BBP but not sure the 2 MR pts per dollar are worth more than the 2.5% fee. What do you think?

Re: Anyone noticed Plastiq coding as Utilities?

CreditRebuilder2020 — Sun, 13 Jan 2019 11:09:56 GMT

FWIW, I've used Plastiq with my AMEX Green for my rent a few times

It shows up as "TAX PAYMENT" on my statement.