(EXPIRED) New Plastiq promo cuts fee to effective 1.25% [Targeted]

Plastiq is out with a targeted new promotion to earn one fee-free dollar for every dollar spent on a Mastercard through Plastiq though October 31, 2018. Since the normal fee is 2.5%, you’ll pay an effective 1.25% overall (2.5% now and 0% on the matching fee-free dollars later). That could make this worthwhile if you’re working on a spending requirement / retention offer or you just want to pay some bills and can come out ahead with a 2% cash back card.

The Deal

• From now until October 31, 2018, earn a fee-free dollar for every dollar you spend through Plastiq on a Mastercard [Targeted]
• Direct link to an article on this promotion
• Targeted email has the subject line, “Earn FFDs when you pay with Mastercard“

Key Terms

• Must be on a Mastercard credit card (excludes pre-paid and debit cards)
• Must be created on or after Thursday, October 11, 2018
• Must be set to process on or before Wednesday, October 31, 2018 (see below to learn where to find the processing date)
• Must pay a fee of at least 2.5% of amount on that payment (ex., no FFDs can be applied)
• Your account will be credited with the corresponding fee-free dollars on November 1, 2018

Quick Thoughts

This is a solid deal if you’re looking to knock out a spending requirement on a Mastercard or even if you want to just come out a little bit ahead while using a 2% cash back card.

For example, if you were to pay $1,000 in bills between now and October 31st at a 2.5% fee, you would pay $25. Then, you’d earn $1,000 fee-free dollars on November 1st ($1,000 of payments with no credit card fee). Assuming you did the entire $2,000 in payments on a 2% cash back credit card like the Citi Double Cash card, you would earn $40 back — coming out $15 ahead with very little effort.

Keep in mind that you do not need to use all of the fee-free dollars next month (as far as I know, fee-free dollars do not expire). It’s also noteworthy that while your payments this month must be with a Mastercard, I assume you’ll be able to apply the fee-free dollars to any payment (regardless of payment method). For example, perhaps you pay $1,000 in bills on your Citi Double Cash today — you’ll pay a $25 fee and earn $20 in cash back for a net cost of $5. Then, in a month or two, you use your $2,000 fee-free dollars to make a tax payment on an Amex card like the new Amex Gold — earning yourself a welcome bonus while paying no fee on that payment. That’s just one example – this could certainly be a way to get a decent return if you have bills that can be paid via Plastiq.

If you’re in the market for some cheap payments, keep your eye out for an email with the subject line, “Earn FFDs when you pay with Mastercard” to know you are targeted.

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