Do you use Plastiq? If so, what's been your experience? Also, let us know if you have any other tips! In case you need a referral link (or just want to support the channel), here's our link: tripast.link/plastiq You can also use TripAstute as a referral code when signing up. 😊
@@TripAstute I wish more people that do communicate in the comments section and make videos would do something like you did. either talk to us on the phone or give us an addresse so we can photo's of ourselves Not everybody knows how to make videos or has the time to make a video. it was abbsoutley 1000% great what you did and you make a lot of great videos.
Yeah, me too!! Had to pay a special assessment to my condo association. And Amex accepted it. Phew! Good to know about that irritating Chase rule. Sheesh!
@@TripAstute is there a proper way to do it? We would only need to pay ourselves in the cases of reimbursement as we are waiting on new cards or trying to move money between accounts to cover vendors.
I would use Plastiq to pay large bills that normally don't accept credit cards (e.g., rent, mortgage, car payments, etc.) rather than paying yourself directly. You'll incur a fee, but it might be worth it if you are struggling to make the minimum spend on a large credit card welcome offer/bonus.
Not sure if things have changed, but trying to meet my minimum spending on CSP I wanted to pay a $634 landscaping bill but the fee was around $38 which is 6%, not the 2.5% I keep on hearing.
I use to love using Plastiq until they stopped accepting my Visa/Amex for all my payments. I know you are technically not allowed to use Visa/Amex for mortgage payments but it was nice when it did work. I also can no longer use Plastiq to make any of my car payments either which was a bummer. Love the videos! Keep them coming.
Yeah, it does seem like the credit card companies are making it more difficult to use these services. I feel like I've been lucky in that it seems to work well for me, but then again, I'm just using it to pay my rent. 😄
@@TripAstute I need something to help me rack up with my mortgage man!!! LOL I'd never pay for anything again in life it I could only find the magic website.
I can pay my rent with my credit card without a fee, but I have to go all the way to the main office in person to swipe it. So I just use online bill pay.
Thanks! Yeah, it's not really publicized. The only reason I even knew about it was from personal experience. Plastiq does have some documentation on it, but it's not something that I had heard about until actually experiencing first-hand. 😄
Plastiq says that it takes 8 business days to send my landlord a check in the mail. It probably doesn't take that long, but that's the lead time required by the system. So if I were to schedule a payment today, the earliest that I can schedule is March 6. 😊
No, unfortunately, mortgage payments on Plastiq are restricted to Mastercard and Discover. That could change in the future, but for now, that's the rule. 🙁
Ernest, great video! Does the visa / Chase rule still apply not allowing one to spend over 20% of your credit limit otherwise it'll be treated as a cash advance? I found this on Plastiq's website: help.plastiq.com/hc/en-us/articles/360005215254-Visa-Personal-Card-Changes For example, your rent is $2500/month and your CL is $5000 - would you be able to pay your rent via Plastiq without it bring treated as a cash advance? Thanks (in advance)!
To be honest, I'm not quite sure. It does seem like rule with Visa cards keeps changing. I know that they do not have any restrictions on the Visa Business cards, but the personal ones are a bit tricky. That being said, the last time I encountered the 20% rule, Plastiq canceled the charge instead of processing it as a cash advance (which was a good thing).
I've heard some people say that Plastiq requires you to upload your rental agreement if it's a private owner. Rent payments can be a bit tricky with Plastiq, especially since the rules keep changing all the time.
It might be worth asking Plastiq about it. The education payments might be incorrectly coded or interpreted by Plastiq as a student loan. You should be able to pay rent though. I know I've done it in the past year with my Amex card.
Does the credit card see who you pay with this service or do they just see that there’s a charge from Plastiq? For instance, Can I pay my personal rent on my business Credit card or would the credit card company see that and ask why I’m paying my personal rent with a business card?!
It's a good question. I just checked my Chase business card statement from 2017, and it listed my landlord's company that I paid. Though in the details, it says "Additional merchant and transaction information WWW.PLASTIQ.COM". The ones from 2018 just have "PQ*Plastiq Bill Payment" listed. I recently paid a rent payment on my AMEX business card, and it just shows as "PLASTIQ". Though I'm not worried about it. I actually deduct part of my rent as a business expense since I use a room as my recording studio. Though I doubt that they would even ask. Hope that's helpful!
Thanks for the video, you mentioned the maximum 20% credit limit rule for Chase personal cards but... is there such for Chase business cards? Ink Business prefered to be more precise, thanks...
I don't believe that business cards not affected by the rule. My guess is that there is an expectation that business users are likely to use more of their credit limit. 🤓 The Plastiq Support page also says that Visa Business cards are not affected: help.plastiq.com/hc/en-us/articles/360005215254-Visa-Personal-Card-Changes
It shouldn’t. Usually when you product change, the issuer keeps the same account number, so it doesn’t look any different on your credit history and report.
Man, thanks for the vid, however, Plastiq has been a pain. Visa and Amex can't be used for a mortgage. Also, if you want a payment to be sent to a PO Box, you can't add the four digit add-on zip code, which unnecessarily complicates what should be a seamless process, and the list goes on. It may be that the CC companies are stopping Plastiq from these certain transactions and functions, but for them to not be up front with the limitations is too much of a waste of time imo.
Interesting. Thanks for sharing your experience. I've had good experiences with Plastiq, with the exception of being notified when my payment failed because of the 20% Chase credit limit rule. Though it's good to know that the system doesn't allow the extended zip code.
The idea is that if a welcome offer is significant and you're unable to make the minimum spend with your normal spending, then paying the transaction fee could be worth it. It's a bit like annual fees. I know people who are adamantly against paying a credit card issuer an annual fee. But if you're able to get more rewards even with the annual fee factored in, then it could make sense.
UPDATE: Plastiq sent me a chart that shows which credit cards can be used for different payment types: tripast.link/plastiq-chart
hi ! this link no longer works. Do you know of a new link?
Do you use Plastiq? If so, what's been your experience? Also, let us know if you have any other tips!
In case you need a referral link (or just want to support the channel), here's our link: tripast.link/plastiq
You can also use TripAstute as a referral code when signing up. 😊
Excellent content, keep up the great work
Thanks for the kind words and support. It means a lot! 😊
Thank you
Thanks for checking out our video & channel. 😊
My brotha Ernest ! Thank you I was sleeping on this "Plastiq" you always provide these great nuggets ! 🙏 Have a great weekend
Jose P.
Thanks Jose! Glad you enjoyed the video. Hope you have a great weekend too. Sounds like it's been freezing cold out east! 🌨❄
@@TripAstute It sure is cold here in New Jersey 😱. I need to head south soon , Miami, South Beach !
Thank you for having the credit consualtation I really enjoyed taking to you over the phone.
Thanks Mark! I enjoyed speaking with you too. It's been a fun experience meeting people in the community! 😊
@@TripAstute I wish more people that do communicate in the comments section and make videos would do something like you did. either talk to us on the phone or give us an addresse so we can photo's of ourselves Not everybody knows how to make videos or has the time to make a video. it was abbsoutley 1000% great what you did and you make a lot of great videos.
Thank you for this sweet video....
Thanks! Glad the video was helpful. 😊
I used this service recently. It was easy and I'll get over 600 miles! Works for me!
Awesome! Glad it worked well for you. 😊
Yeah, me too!! Had to pay a special assessment to my condo association. And Amex accepted it. Phew! Good to know about that irritating Chase rule. Sheesh!
Thank you for the updated chart! I really appreciate it! I'm gonna prepay my condo fees to hit a MS woohoo!
Awesome! Plastiq is definitely a great tool for meeting minimum spend. 😊
Can you pay yourself or reimburse yourself?
That's a good question. I don't see why not, but it might raise some red flags, so I would be careful.
@@TripAstute is there a proper way to do it? We would only need to pay ourselves in the cases of reimbursement as we are waiting on new cards or trying to move money between accounts to cover vendors.
I would use Plastiq to pay large bills that normally don't accept credit cards (e.g., rent, mortgage, car payments, etc.) rather than paying yourself directly. You'll incur a fee, but it might be worth it if you are struggling to make the minimum spend on a large credit card welcome offer/bonus.
Not sure if things have changed, but trying to meet my minimum spending on CSP I wanted to pay a $634 landscaping bill but the fee was around $38 which is 6%, not the 2.5% I keep on hearing.
Interesting. I think the last one I did with them was 2.5%, but that was several months ago. Perhaps things have changed. 🤔
Great video will apply for CSP soon :)
Thanks! Glad the video was helpful. The CSP is a great card too! 👍
Great video and thanks for sharing all of this valuable information. Signing up with Plastiq soon.
Keep up the great work man!
Thanks! Glad the video was helpful. 😊
Never say never. Jan 1, 2020 things are going to change.
I use to love using Plastiq until they stopped accepting my Visa/Amex for all my payments. I know you are technically not allowed to use Visa/Amex for mortgage payments but it was nice when it did work. I also can no longer use Plastiq to make any of my car payments either which was a bummer. Love the videos! Keep them coming.
Yeah, it does seem like the credit card companies are making it more difficult to use these services. I feel like I've been lucky in that it seems to work well for me, but then again, I'm just using it to pay my rent. 😄
@@TripAstute I need something to help me rack up with my mortgage man!!! LOL I'd never pay for anything again in life it I could only find the magic website.
I can pay my rent with my credit card without a fee, but I have to go all the way to the main office in person to swipe it. So I just use online bill pay.
That makes sense! 👍
Great video 👍 I didn’t know chase %20 percent plastiq rule
Thanks! Yeah, it's not really publicized. The only reason I even knew about it was from personal experience. Plastiq does have some documentation on it, but it's not something that I had heard about until actually experiencing first-hand. 😄
Very good info!! I think 🤔 i might try to us plastica!! Never now that...thanks for sharing
Thanks! It's definitely a useful service, especially when you have a huge minimum spend requirement. 😄
If I use Plastiq to pay my rent via my American Express card, how long does it take for them to cut the check to my landlord, does anyone know?
Plastiq says that it takes 8 business days to send my landlord a check in the mail. It probably doesn't take that long, but that's the lead time required by the system. So if I were to schedule a payment today, the earliest that I can schedule is March 6. 😊
Thank you, Ernest!
can i use my csp to pay my mortgage with plastiq?
No, unfortunately, mortgage payments on Plastiq are restricted to Mastercard and Discover. That could change in the future, but for now, that's the rule. 🙁
Ernest, great video! Does the visa / Chase rule still apply not allowing one to spend over 20% of your credit limit otherwise it'll be treated as a cash advance? I found this on Plastiq's website:
help.plastiq.com/hc/en-us/articles/360005215254-Visa-Personal-Card-Changes
For example, your rent is $2500/month and your CL is $5000 - would you be able to pay your rent via Plastiq without it bring treated as a cash advance?
Thanks (in advance)!
To be honest, I'm not quite sure. It does seem like rule with Visa cards keeps changing. I know that they do not have any restrictions on the Visa Business cards, but the personal ones are a bit tricky. That being said, the last time I encountered the 20% rule, Plastiq canceled the charge instead of processing it as a cash advance (which was a good thing).
I see you can pay you rent with plastic, my question is, does it have to be a rent company? You see I’m renting from a private owner.
I've heard some people say that Plastiq requires you to upload your rental agreement if it's a private owner. Rent payments can be a bit tricky with Plastiq, especially since the rules keep changing all the time.
I havent been able to pay residential rent, or education payments with American express. Should I notify Plastiq?
It might be worth asking Plastiq about it. The education payments might be incorrectly coded or interpreted by Plastiq as a student loan. You should be able to pay rent though. I know I've done it in the past year with my Amex card.
Does the credit card see who you pay with this service or do they just see that there’s a charge from Plastiq? For instance, Can I pay my personal rent on my business Credit card or would the credit card company see that and ask why I’m paying my personal rent with a business card?!
It's a good question. I just checked my Chase business card statement from 2017, and it listed my landlord's company that I paid. Though in the details, it says "Additional merchant and transaction information WWW.PLASTIQ.COM". The ones from 2018 just have "PQ*Plastiq Bill Payment" listed.
I recently paid a rent payment on my AMEX business card, and it just shows as "PLASTIQ". Though I'm not worried about it. I actually deduct part of my rent as a business expense since I use a room as my recording studio. Though I doubt that they would even ask.
Hope that's helpful!
Trip Astute Thank you so much! Great video too btw!
Thanks for the video, you mentioned the maximum 20% credit limit rule for Chase personal cards but... is there such for Chase business cards? Ink Business prefered to be more precise, thanks...
I don't believe that business cards not affected by the rule. My guess is that there is an expectation that business users are likely to use more of their credit limit. 🤓
The Plastiq Support page also says that Visa Business cards are not affected: help.plastiq.com/hc/en-us/articles/360005215254-Visa-Personal-Card-Changes
Hey..
If I product change a capital one card,will that be counted a new account according to chase for 5/24 rule?
It shouldn’t. Usually when you product change, the issuer keeps the same account number, so it doesn’t look any different on your credit history and report.
Man, thanks for the vid, however, Plastiq has been a pain. Visa and Amex can't be used for a mortgage. Also, if you want a payment to be sent to a PO Box, you can't add the four digit add-on zip code, which unnecessarily complicates what should be a seamless process, and the list goes on. It may be that the CC companies are stopping Plastiq from these certain transactions and functions, but for them to not be up front with the limitations is too much of a waste of time imo.
Interesting. Thanks for sharing your experience. I've had good experiences with Plastiq, with the exception of being notified when my payment failed because of the 20% Chase credit limit rule. Though it's good to know that the system doesn't allow the extended zip code.
Why bother with that, pennies saved for dollars spent
The idea is that if a welcome offer is significant and you're unable to make the minimum spend with your normal spending, then paying the transaction fee could be worth it. It's a bit like annual fees. I know people who are adamantly against paying a credit card issuer an annual fee. But if you're able to get more rewards even with the annual fee factored in, then it could make sense.
Shake shack guy..
? 🤔
@@TripAstute becuz u eat shake shack all the time