Here is a great opportunity to meet minimum spend thresholds for various Mastercard branded credit card Bonuses using Plastiq.
Plastiq, the bill-paying service, is waiving its 2.5% credit card transaction fee, when you pay any bill or invoice using Masterpass through Plastiq. This is a limited time promotion through September 30th, 2018. The 2.5% fee will be waived the first $500 of the transaction.
Masterpass is a digital wallet by Mastercard that allows you to store your credit card and then check out seamlessly when making online transactions. It’s free to sign up, and most credit and debit cards are supported. What’s more, you’ll continue to collect credit card points even though your purchase will be processed via Masterpass.
Even though Masterpass supports non-Mastercard products, the Plastiq https://masterpass.com/promotion is good only on Mastercard-branded cards used through Masterpass. Plastiq is sending the promotional offer to its users via an email invitation, which says the offer is “only available to (the) account associated” with the email address. However, it appears to be working for any Plastiq user paying with MasterPass.
For Example: if you have a $400 bill with a landscaper who will not take a credit card, you can use Plastiq to send him a check without any fee. If you have a rent payment for $1,000, then Plastiq will calculate a fee of $12.50 reflecting the 2.5% waiver on the first $500 sent.
How to Sign Up For Plastiq
If you don’t have a Masterpass account, it’s easy to get one. Just visit Masterpass.com and create an account for free, then add your credit cards to the Masterpass account. Finally, log in to your Plastiq account, click on your default card at the top left corner of the page, then click “Add New Card.” Above the card icon, select “More Ways to Add,” which will prompt you to add a card from Masterpass.
Let’s say if you wanted to go to Miami (for free!) with 3 saver award business class seats, or 6 saver economy seats, you can! Simply sign up for the Citi® / AAdvantage® Platinum Select®World Elite™ Mastercard® that gives you 60,000 American Airlines AAdvantage® bonus miles after spending $3,000 within the first 3 months of account opening. Can’t spend the $3,000 – now you can with everyday purchases. A little detail work and poof off to Miami (just an example many ways to use the points) for absolutely free.
Come back to besecurefinancially.com next week to hear my first hand experinece using Plastiq.