Plastiq Mortgage/Rent Promo: Covering a Service I Haven’t Used

Plastiq has launched a promotion to coincide with competitor RadPad’s marketing fails.

I was contacted by a Plastiq representative yesterday about the offer. Since I have not used the service, I waited a day to see other blog posts and reader feedback on the service to educate myself. It looks like the service works well and has reasonable credit card fees that can be useful in cases such as meeting minimum spend and annual big-spend bonuses.

Plastiq Promo 175

The promo is for a 1.75% credit card fee if you meet the below terms and detailed here:

  1. Schedule 6 or more payments, as far into the future as you’d like
  2. Make sure those payments are for rent or mortgage
  3. Use your MasterCard
  4. Do it before September 30, 2016, 11:59 p.m. PT

The regular credit card fee is 2.5%. Plastiq can pay many types of bill, however this promo is for mortgage and rent payments only.

There are increasingly few travel MasterCards potentially useful. Citi AT&T (online purchase category) and Barclaycard Arrival+ (regular cashback earning) are appealing for a profit.

A refer-a-friend program is available for all registered accounts. A referred friend with get a credit for fee-free payment of $200 and the referrer will get a credit for fee-free payment of $400. I am do not plan to sign up for the service at this time as I do not have a mortgage and I still by rent via RadPad. See Doctor of Credit for details on this and fellow travelers sharing referral links.

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  • kim

    how long is this promo rate good for?

  • @kim – schedule the payments by September 30, then they occur monthly for 6 months and are charged at time of each payment.

  • Bill

    The web interface allows you to schedule up to 99 occurrences of the payment. I noticed that the schedule only extends to the expiration date of the credit card used. In the case of a mortgage, I know that the payments will adjust, but at least most of the mortgage payments will earn rewards points.