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Plastiq Mortgage Payments with Visa Blocked
One of the more popular way to earn miles/points 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 bridges that gap and allows you 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. Depending on the card used, the rewards can more than offset the fee that Plastiq charges.
Unfortunately it now looks like you won’t be able to pay your mortgage via Plastiq with a Visa card any longer. According to Redbluefire on Reddit Plastiq said the following:
VISA has just informed Plastiq that use of a VISA card for mortgage will no longer be supported via Plastiq and will not process going forward. I’m very sorry for this. only use of another card type such as MasterCard, Amex, Discover or even VISA debit will allow your future mortgage payments to process using Plastiq. We are complying with recent directives from VISA regarding not allowing mortgage payments via use of a VISA card with Plastiq.
If you currently have have mortgage payments scheduled, they apparently will process normally. If you make any changes to your scheduled mortgage payments, then they will not go through.
Hopefully this isn’t a sign of things to come and thankfully for now you still have more options outside of Visa cards for mortgage payments. With that said, I know a lot of people used Visa cards to pay mortgages on Plastiq so this does sort of stink.
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