Plastiq Promo, Pay Mortgage with Mastercard and Pay Only 1.5% in Fees

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Plastiq Promo, Pay Mortgage with Mastercard and Pay Only 1.5% in Fees

Plastiq has a new promotion that charges you lower fees if you schedule three mortgage payments by the end of the year and pay with a Mastercard.

The Offer

Schedule 3 or more mortgage payments with your Mastercard by end of this year, and get a rebate on the first 3 payments so that your effective Plastiq fee is 1.5%. You can earn up to $200 back in rebate. After your third payment processes, a check will be sent by January 5, 2018.

For a payment to qualify, please make sure that you:

  • Schedule 3 or more monthly mortgage payments by checking the box next to recurring.
  • Use a Mastercard.
  • Set up the first 3 payments so they are set to process between September 5, 2017 and December 31, 2017 11:59 p.m. EDT.
  • Look for a notification of eligibility on the payment review screen.

Promotion page.

How it Works

The effective Plastiq fee of a payment is the final fee amount you pay after FFDs & other promotions are applied. For example, if you schedule 3 mortgage payments of $1,000 and…

FFDS APPLIED PAY A FEE OF YOUR EFFECTIVE PLASTIQ FEE IS TO BRING THE PLASTIQ FEE DOWN TO 1.5%, YOU WOULD RECEIVE A REBATE OF
0 $75 2.5% $30
600 $60 (FFDs were applied) 2.0% $15
1,200 $45 (FFDs were applied) 1.5% $0

 

Sign-Up

If you don’t have a Plastiq account, you can sign up through a referral and earn fee free spending.

Conclusion

The regular fee for using a Mastercard to pay your mortgage is 2.5%, but with this promotion you can pay only 1.5%. However, it is limited to a $200 rebate, so your total payments through this promotion shouldn’t go over $20,000 in order to get that 1.5 fee. This could be a small money maker if you use a Mastercard that earns more that 1.5%, such as Citi Double Cash Back.

 


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4 COMMENTS

  1. This is probably a really dumb question, but do you think it has to be the same card for all three payments? I have minimum spend to meet on two Mastercards. Could I do 2 payments on one card and the third payment on a second card?

  2. What is an FFD? Not everybody is familiar w/ all the abreviations that are used here and it would REALLY be helpful if they were defined at least once on the page, where they are used first.

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