[Expired] $4K in fee-free Plastiq payments for new small business users

Plastiq came out with a new offer for small businesses last week and we realized that we hadn’t yet covered it. The short story is that through July 31st, new small business users who sign up for a Plastiq account can earn 4,000 Fee-Free Dollars (“FFDs”) with no initial spending requirement. This one will require speaking to a human, but assuming you can handle that much, this is some easy fee-free spend.

The Deal

• Now through July 31, new small business users who sign up for a Plastiq account can earn 4,000 Fee-Free Dollars (“FFDs”) with no initial spending requirement
• Direct link to this promotion (our affiliate link)

Key Terms

• Promotion is only available to new business users who complete the following:
  • Submit their email address through this offer
  • Register for a new Plastiq account with the same email address
  • Complete the Plastiq account registration form
  • Indicate the account is to be used for ‘business’ or ‘personal & business’ (by July 31, 2019 at 11:59pm EDT)
  • Schedule a time to speak to a Plastiq sales representative and then speak to the Plastiq sales representative by phone.
• Plastiq sales representative will make the sole determination whether the user is a legitimate and registered business entity, speak with the user about Plastiq services, then award the 4,000 Fee-Free Dollars (“FFDs”) to user’s account.
• The representative’s determination on the eligibility of your registered business is at his or her sole discretion and is final.
• FFDs awarded through this promo will expire 90 days after awarding.
• If you do not meet the qualifications of this promotion or attend presentation, no FFDs will be awarded as a part of this promotion. This does not exclude you from being awarded FFDs as a part of any other ongoing promotion or referral program in effect at the time of the account opening.
• You may not participate in this promotion if you have an existing Plastiq account, either as a personal or business user.
• Offer valid one per business only.
• Plastiq reserves the right to withhold or revoke FFDs in user’s accounts if the user has a second Plastiq account, up to and including account termination.
• Plastiq reserves the right to cancel or modify this promotion at any time and/or for any violation of Plastiq’s Terms and Conditions.

Quick Thoughts

For those unfamiliar, Plastiq is a service that enables users to pay bills via credit card — even those where credit cards are not ordinarily accepted. In a nutshell, you pay Plastiq via credit card and Plastiq sends a check or direct deposit to pay your bill. See our Complete Guide to Plastiq credit card payments. Also see our guide to Paying taxes by credit card, 2019 edition for the section on using Plastiq

This Plastiq promotion requires small business users to have an actual, verifiable small business and speak to a Plastiq sales representative by phone to qualify. The good news is that if you are successfully verified, you’ll receive 4,000 fee-free dollars immediately during the phone call – no need to make any up-front purchases or go through a waiting period. To be clear, fee-free dollars means you will be able to pay $4,000 worth of bills via credit card without paying Plastiq the 2.5% credit card processing fee. That’s a nice deal as one could easily trigger the new cardmember offer on plenty of different credit cards with $4,000 worth of spending — being able to meet the spend with no fee and on bills you were already going to pay is great. Plastiq’s typical new member offer is for 1,000 fee-free dollars and requires you to make a payment of $500 (before the 2.5% credit card fee) to trigger the fee-free dollars. This new offer is substantially higher and wipes out the initial payment requirement in order to trigger the fee-free dollars.

Keep in mind that this promotion is not open to current Plastiq users. The terms indicate that Plastiq may terminate your account if you try to open a second account, so I wouldn’t recommend trying to sidestep the terms.

It’s also worth noting that the fee-free dollars will expire in 90 days. This promotion is only valid for sign-ups through 7/31/19, so you’ll have until near the end of October to use your fee-free dollars, though I imagine that shouldn’t be too difficult for most folks.

Overall, this is a solid deal for new users. If you were to use a card earning just 2%, you’d earn $80 in rewards on $4,000 in payments. If you are able to trigger a new cardmember bonus and/or a more valuable reward structure, it gets even better.

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