Blocked! Plastiq Will No Longer Allow Mortgage Payments with Amex Cards

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Plastiq Mortgage Payments with Amex Blocked

Plastiq Mortgage Payments with Amex Blocked

One of the more popular ways to earn miles/points or to complete minimum spend requirements is by paying the bills you already have. Some payees make it easier than others by accepting credit cards while others like banks won’t allow you to use a credit card directly.

Plastiq makes that easier and makes it possible to earn rewards at merchants who don’t accept credit cards. Since mortgage payments are often one’s biggest expense, many people use Plastiq to pay their mortgage with a credit card in order to earn rewards. When they have promotions, you can even come out ahead even with the fee that Plastiq charges.

However, it has been getting more difficult to make mortgage payments with Plastiq. Back in June, they blocked Visa cards for mortgage payments, and now they have done the same thing with American Express cards. The change seems to be brought on by American Express since the process of mortgage payments with a credit card is not allowed according to their Terms and Conditions.

Payments that have already been set up, should go through as scheduled. You’ll also be able to continue using American Express credit cards for rent payments.

Conclusion

This is another step in the wrong direction for Plastiq but an understandable one since it is American Express requesting it. There might be some payments still going through with Amex cards, depending on how they code.

You can still do mortgage payments through Plastiq but your only options now are Mastercard and Discover. They actually have a good promotion going on where you can pay a 1.5% fee when you schedule 3 or more mortgage payments with your Mastercard by end of this year.

HT: Frequent Miler & Doctor of Credit


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3 COMMENTS

  1. I paid my Wells Fargo mortgage with no problems this morning. Plastiq categorized it as Rent/Real Estate. ???

  2. I found out two days ago about this disappointing news as I had been using Amex for mortgage payments to meet spending bonuses (was hoping to meet the SUB on my new HHonors Surpass this way).

  3. Any suggestions as to a way to use Platistic or someone else to pay $7500 lump sum with my AMEX card ( offer 10k points bonus)?

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