Plastiq 1.5% fee for June (up to 3 one-time payments)

[Anonymous]

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@Saleen099 wrote:

 Quick question what is the benefit of using this service? 

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Generally, it's used to make credit card payments to entities that don't take credit cards (you pay Plastiq, they send a check or ACH to the payee).    The fee usually is 2.5%, which negates most rewards benefits, but is still useful if you are trying to meet a SUB.   And, as in the case, with reduced fees, a 2% card will give you 0.5% profit.

[Anonymous]

I got the email lastnight, but it was in my spam folder. May want to check there for it.

[FinStar]

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@Anonymous wrote:

Very odd Rev.

Interesting note, though.  Last night after seeing this thread I made a mortgage payment through Plastiq, my first payment through them in months.  1.5% fee as shown in the image in my previous post.  A few hours after making the payment, I received an email with the targeted offer pictured in the original post of this thread. 

FinStar, out of curiousity did you receive that email following a Plastiq payment as I did? 

Also, why are they sending out a targeted email offer for "June" half way into the month?  That seems a bit silly; one would think it would have gone out the last week in May.

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Hmmmm, definitely odd Rev since it seemed to have worked for BBS.   Hopefully, the limited-time promotion works for everyone if it's not a targeted offer.   Maybe the folks at @Anonymous can provide more insight. 

So, the email came through last night and the last time I used Plastiq was over a couple months ago.  I agree it's kinda silly to get the communication mid-month, but there's still some time to take advantage of the offer for a couple large payments I was recently entertaining 

[pinkandgrey]

I got this email too. I used Plastiq only once, though, and wasn’t planning on using it again. I unsubscribed from the emails lol 

[Anonymous]

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@DaveInAZ wrote:

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It depends on what you're paying, my mortgage payment codes as 'accomodations', as in lodging.

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I've never looked into how a mortgage payment codes actually.  If it's seen as lodging, would someone benefit the most from using a travel (hotel) type card?  I don't have any travel cards myself and know nothing about them, so I'd be curious to hear if that makes any sense.

[Gmood1]

After seeing this, I found the email in the promotion section of Gmail. Thanks Fin for the heads up! I'll be using mine as well. Throw the mortgage on my Citi Double cash and let it ride for 3 months.
Oh Man, I need to find a MasterCard with a sign up bonus quickly! 😂

[Anonymous]

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@DaveInAZ wrote:

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@Caardvark wrote:

I'd like to get in on this. What does Plastiq code as to maximize the return. 

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It depends on what you're paying, my mortgage payment codes as 'accomodations', as in lodging.

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So Plastiq uses different MCCs depending on what is being paid?   Didn't know that!

[Anonymous]

Hi All - Our team is aware of an issue with this targeted promotion not working as designed. We are working to resolve the issue as soon as possible. Thank you for your patience and understanding.

[DaveInAZ]

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@Anonymous wrote:

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@DaveInAZ wrote:

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@Caardvark wrote:

I'd like to get in on this. What does Plastiq code as to maximize the return. 

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It depends on what you're paying, my mortgage payment codes as 'accomodations', as in lodging.

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So Plastiq uses different MCCs depending on what is being paid?   Didn't know that!

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Yeah, in addition to my mortgage payment coding as lodging I paid a Farmer's Association for filling my propane tank (they don't take Amex), when I added them as a Payee Plastiq asked for a description of service provided so I put "Propane gas - Utilities", and sure enough they coded it as Utilities. Their actual (Visa) MCC is 0763 - Agricultural Co-operatives.

[Revelate]

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@DaveInAZ wrote:

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@Caardvark wrote:

I'd like to get in on this. What does Plastiq code as to maximize the return. 

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It depends on what you're paying, my mortgage payment codes as 'accomodations', as in lodging.

DoC says it's targeted, I usually get the targeted promo emails but nothing yet, and when I tried a test payment it showed a 2.5% fee.

Hope I get the promo email, I have 2 payments I want to make on Amex BCP. It's during my upgrade SUB, but if Amex questions them they're legit bills from 2 companies that don't take Amex.

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What card / transaction network is showing that Dave?  Mastercard?

Wonder if "Accomodations" would count as travel specifically on some lenders, too bad Visa isn't accepted on that as I'd love to see if that fell under the wide-range of Chase travel codes.