Find out how to use Plastiq to make funds with a bank card

If maximizing factors and miles on massive purchases is your sport, Plastiq can assist you get there. The cost platform is in style amongst these seeking to earn rewards on bills that usually cannot be charged to a bank card. We’re speaking about lease and mortgage funds, taxes, tuition, a brand new automotive and just about every little thing in between.

And we’ve excellent news for individuals who have beforehand been disillusioned to be taught that their card wasn’t accepted by Plastiq. Not too long ago, Plastiq began accepting American Specific playing cards once more, and private Capital One playing cards can now be used for eligible funds.

However earlier than you get too excited in regards to the miles you may earn paying your child’s school tuition, understand that Plastiq does cost a charge. There are additionally restrictions on the kind of funds you may make with particular bank cards.

Under, we’ll cowl some workarounds for these points together with every little thing else it’s good to learn about Plastiq.

What’s Plastiq?

Plastiq is a cost platform that means that you can pay and settle for just about any invoice with a debit or bank card. It is an ideal possibility for incomes factors on spending you usually cannot placed on a bank card. This contains your greatest residing bills, like housing, vehicles and tuition.

Paying payments on-line. HERO IMAGES/GETTY IMAGES

You’ll be able to pay these retailers with a bank card, and Plastiq will ship them a test or wire switch in your behalf. It additionally has Plastiq Settle for for small companies and a world funds resolution.

You’ll be able to even arrange automated funds, so you do not have to fret about scheduling them manually each month.

Plastiq charges and how one can keep away from them

Plastiq at the moment prices a bank card processing charge of as much as 2.9%. You would possibly be capable to offset this charge by signing up with a referral hyperlink and referring others to the platform.

You may additionally pay a hard and fast charge starting from $0.99 to $39, relying on how your cost is delivered, e.g., financial institution switch, test or wire switch.

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You may earn bonus Price-Free {Dollars} for signing up with a referral hyperlink or by referring somebody who makes $2,500 in funds in the course of the first 30 days after sign-up.

Plastiq promotions

Whereas the two.9% charge might be robust to justify, Plastiq does run occasional promotions that reduce down the charge. Prior to now, it is despatched out focused presents for diminished charges or bonus Price-Free {Dollars} you possibly can apply to future funds.

To make sure you do not miss out on these promotions, signal as much as obtain e mail notifications from Plastiq. Whether or not you are focused for a particular supply or notified of public promotions, signing up for e mail notifications ensures you do not miss out on these offers.

Associated: Find out how to hit your card’s minimal spending bonus

The Plastiq referral program

In case you have many family and friends wanting to earn miles on massive purchases, you may earn Price-Free {Dollars} by referring them to Plastiq. You may earn 2,500 FFDs for each particular person you refer who makes $2,500 in funds in the course of the first 30 days after they enroll. Often, it’s also possible to earn bonus FFDs throughout a promotion.

Simply understand that FFDs expire 90 days after they’re issued. A straightforward manner to make sure they do not expire is to make use of them in your mortgage or lease funds each month. These are certain to be excessive sufficient to make use of up any expiring FFDs you have received mendacity round.

The very best bank cards for Plastiq invoice funds

The very best bank cards for Plastiq invoice funds earn rewards which are extra helpful than the charges you are incurring. Utilizing Plastiq to satisfy spending necessities on a card with an enormous welcome supply is one other nice possibility.

For instance, the Ink Enterprise Most well-liked Credit score Card presents 100,000 bonus factors after you spend $8,000 on purchases within the first three months after account opening. When you’re having problem assembly the spending requirement, Plastiq is one possibility for getting it completed.


Equally, a bank card that gives elite standing or annual spending bonuses would even be an ideal contender for Plastiq invoice funds. If the cardboard you are utilizing earns greater than 1 level per greenback spent, that is even higher.

Associated: The highest 6 bank cards to maximise giant purchases

How does Plastiq work?

Plastiq is fairly easy to make use of. After signing up, you may add bank cards to your pockets and arrange cost profiles. You’ll be able to arrange one-time or recurring funds for just about any service provider. Whenever you pay utilizing a bank card, Plastiq pays the service provider through test or switch.

Since funds can take as much as 11 days to be acquired, you may need to keep in mind this when selecting your cost choices.

Plastiq has a cost calendar that exhibits you when the cost will submit so you may alter the cost date accordingly. When you’re making a cost on the final minute, you may pay additional to expedite it.

Find out how to add a brand new recipient in Plastiq

When you’re making a cost for the primary time or including a brand new vendor, you need to log in and click on the blue plus signal to “make a cost.”


On the subsequent display for “Who do you need to pay?”, you may sort the seller’s title. The system will search its community to see in case your vendor is on file, and if not, you may add the knowledge manually.


You’ll be able to ship your cost through paper test, automated clearing home financial institution switch or home wire. Wire switch is the quickest possibility, whereas paper checks can take as much as 11 days to course of.

You may pay the most cost effective charge when utilizing financial institution switch, billpay or EFT ($0.99). Checks price barely extra ($1.49), whereas home and worldwide wires are the costliest ($8.99 and $39, respectively).

Funds by test

If you need Plastiq to ship your cost through test, you may be requested to offer the recipient’s handle.


Lastly, you may have to specify the companies supplied by the seller. Choices embody enterprise purchases, golf equipment and membership, basic stock, labor and payroll and insurance coverage.


ACH and wire

For automated clearing home or wire funds, you may be prompted to enter the seller’s title, checking account quantity and routing quantity.


Paying via Plastiq is easy and requires only a few easy steps. As soon as you have added a recipient, you may bypass most of those steps on future funds.

Associated: Rookies information to factors and miles

Plastiq FAQ

Listed here are a few of the commonest questions we have acquired about Plastiq:

Which payments are you able to pay with Plastiq?

Utilizing a bank card, you may pay just about any invoice or service provider via Plastiq. This contains your lease, mortgage, automotive funds, your landscaper and just about something in between.

The one cost restrictions are for “debt merchandise,” investments and different individuals. Plastiq is supposed to be a consumer-to-business product, so you may’t use it as a Venmo various to ship cash to associates or household.

Which bank cards does Plastiq settle for?

Plastiq accepts many main bank cards, together with Visa, Mastercard, American Specific, Uncover and Diners Membership. Nonetheless, keep in mind there are limitations relating to which payments you may pay with every card sort.

Plastiq has a useful information that lists all of the completely different payments you may pay along with your eligible card.

Can I take advantage of Plastiq to pay a bank card invoice?

Sadly, you may’t use Plastiq to make a bank card cost since that falls underneath the “debt product” restriction. Whereas a mortgage is technically a debt product, Plastiq makes an exception in permitting you to pay it with a bank card. That is fairly useful since mortgage funds are such an enormous expense for most individuals, and there is not actually one other technique to earn factors whereas paying it.

What are some alternate options to Plastiq?

There are a couple of alternate options to Plastiq, relying on the kind of invoice you are paying. When you’re seeking to pay taxes with a bank card, a less expensive possibility is to make use of an IRS-approved cost processor. Many settle for bank cards for lower than a 2% processing charge.

If you wish to use a bank card to pay lease with out transaction charges, take into account the Bilt Mastercard®. This no-annual-fee card (see charges and charges) means that you can pay lease with it and earn factors the place you in any other case could not be capable to.

TPG founder Brian Kelly is a Bilt adviser and investor.

When you’re seeking to earn factors on tuition funds, test along with your college first as a result of chances are you’ll find yourself paying a decrease card processing charge than Plastiq prices — or none in any respect.

PayPal is an possibility for peer-to-peer funds utilizing a bank card since Plastiq does not enable these sorts of funds. The platform prices 2.9% plus a $0.30 processing charge per transaction. That brings your whole for a $1,000 cost to $29.30.

Associated: One of the simplest ways to pay your bank card payments

When is utilizing Plastiq price it?

With the charges concerned, chances are you’ll wonder if Plastiq is price it. There are a couple of situations the place incurring a 2.9% charge is smart.

For starters, in the event you’re attempting to satisfy a big spending requirement to earn a bank card sign-up bonus, Plastiq is likely to be price contemplating. You may pay roughly $29 per $1,000 cost, which might be worthwhile relying on the scale of the sign-up bonus.

For instance, the Ink Enterprise Most well-liked at the moment presents 100,000 bonus factors after you spend $8,000 within the first three months of account opening. Making $8,000 in funds via Plastiq will price you about $232 in charges. Whereas that is definitely not a small quantity, keep in mind which you could redeem the Ink Most well-liked welcome bonus for $1,250 price of journey booked via the Final Rewards journey portal. Even in the event you redeem a part of your sign-up bonus for money again to offset the Plastiq charge at 1 cent per level, you may nonetheless come out forward.

In fact, our suggestion is to switch your factors to considered one of Chase’s journey companions for premium award redemptions. You may get properly over $2,000 in worth by going this route.

Backside line

Plastiq is a strong possibility if you wish to earn factors on massive purchases or want somewhat assist assembly a big spending requirement. Whereas the two.9% charge might be substantial, it can save you by signing up with a referral hyperlink or referring others. The occasional promotion also can knock out an enormous chunk of these charges. And if utilizing Plastiq will get you an enormous bank card sign-up bonus, redeeming it for a high-value award also can take the sting out of paying these charges.

For charges and charges of the Bilt Mastercard, click on right here.
For rewards and advantages of the Bilt Mastercard, click on right here.

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