Pay Your Mortgage With MasterCard Through Plastiq For a 1.5% Fee

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This promotion has ended; please review current/active promotions.

Plastiq is running a promotion that will give you a rebate that brings the effective plastiq fee down to 1.5% if you pay three mortgage payments with a MasterCard. The deal is similar to one Plastiq ran last year, although this year it is more generous since last year the fee was only brought down to 1.75%.

Key Terms

  • Promo is valid for payments processed through 23:59 ET December 31, 2017
  • All three mortgage payments must be completed by the end date of the promotion
  • The size of your rebate depends on the amount of you paid in fees
  • You need to use a MasterCard to make the payments
  • Payments need to be scheduled as recurring by ticking the appropriate box
  • You need to ensure that you are eligible, by checking the payment review screen

How Is The Rebate Calculated?

Based on 3 recurring payment of $1,000 as an example, you would earn a rebate as follows after all “Fee Free Dollars” and other promotions are applied.

Plastiq 1.5 Percent Discount with FFD


This promo is not a bad way to pick up some bonus points or miles for spending you were planning on making anyway. Make sure you're earning at least 1.5% in value with the credit card you use to make the promotion worthwhile!

Source: Frequent Miler

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  • Note that Plastiq no longer posts as travel on most (or all?) cards, so the days of getting a 3x bonus are gone

  • Ramey Illiad says:

    I don’t recommend using Plastiq for mortgage payments because it was a lot of work last time to get them to apply the payments correct (to regular monthly payment instead of extra principal payment). Great way to meet minimum spending requirements otherwise.

  • Not sure I agree with paying 1.5% to get miles/points, what not. Isn’t mileage value supposed to be 1%?

    • NO! Please don’t ever say that. Miles are not all worth the same. Miles are not worth 1% or $.01. Miles are worth what you’d otherwise pay in cash + some intrinsic value.

      So a flight that requires 25,000 miles but would otherwise be $500 — are they worth $.01 or more?

  • It’s a pretty easy way to get some spending done.

  • In a mortgage the the interest is calculated on an annual fee but it seems like Plastiq is charging a full 1.5% for each payment made through them, which is quite a large number!

  • *le sigh* this is also not available in the UK. (Unless someone tells me otherwise!)

    I’m in two minds about the lack of credit card based points earning opportunities in the UK. It’s partly good for UK (and wider EU) based consumers and small businesses as the cap on fees (which would otherwise fund these points) keeps on costs, arising from processing card payments, to a minimum and therefore keeps the cost of goods and services lower and increases profitability for small businesses. But at the same time, I want the same/similar earning opportunities as our cousins across the Atlantic!

  • I love paying my rental mortgages thru this avenue, since the fee becomes an office expense… Nicely done!! Thanks for the heads up.

  • Could be good if you use Citi Double Cash or any other 2% CB MC. Effectively gaining .5% on something you’d pay for anyway and, as stated above, is usually your largest expense anyway.

  • Two months ago, Plastiq told me they sent a check to my landlord, and then they never did. I was charged late fees and threatened with eviction. Plastiq admitted to making a mistake and refunded me and paid the late fees, but I don’t trust the company anymore.

  • 1.5% of my mortgage payment is quite large towards ways of acquiring otherwise cheap points. Can see the benefits of using this three times to justify say a big bonus of points from a credit card offer.

  • Jacqueline parsons says:

    Agree,this offer is probably only good to hit a spend target to bag a nice bonus point offer.

  • I would only do this if there was no other way I could meet my minimum spend on a credit card bonus.

  • Does anyone know what category this is coding as?

  • I will pass, but if you need help meeting a spending bonus, or your card pays 2% or better, it’s not a terrible option to consider.

  • Would be a good way to meet minimum spend for bonuses.

  • Gotta crunch some numbers

  • not a bad idea to rack up some points.

  • I have used Plastiq in the past and never had a problem.

  • Potentially a good way to get some extra points for a specific purpose, but I wouldn’t be routinely paying an extra 1.5% on my biggest expense.

  • These are usually so narrow a “gain” for me that more often than not I just don’t see enough value to do them. Not at 1.5% at least.

  • I plan to get thru the min. spend for a CC sign up with this.

  • Bertrand Say says:

    I don’t like paying fees period.