There is a rather new online ‘bill pay’ service called Plastiq. This is a very easy to use, flat rate service to pay bills or send money. You can use your Visa, Mastercard, or Amex at a flat 2.5% service fee.
When you sign up for a travel card there is a good chance you are going to have to meet a ‘minimum spend’. This spend typically ranges from $1,000-$3,000 in 90 days.
There are other online bill pay services out there, such as ChargeSmart, but they don’t accept Amex and they charge closer to a 3% service fee. ChargeSmart also does not allow you to send a check to “non businesses”. With Plastiq you can pay your friend for a service, such as ‘walking your dog’. Once your friend get’s their check for walking your dog they are welcome to “give you” some money back ($980 to be exact)… You get the point.
If you have a $1,000 minimum spend to meet you could send your friend $980. You would be charged a $24.50 service fee and your credit card would be charged a total of $1,004.50. Boom, minimum spent complete!
To sign up, visit Plastiq.com and click “Join Plastiq”. They will ask you for some basic information and then you are ready to start paying bills/sending money! You can pay your rent with a credit card even if you normally mail in your rent to your landlord. Plastiq will mail a check in 5-7 business days for no additional charge.
Other things you can pay with Plastiq:
– Cell Phone
– Cable Bill
– Internet Bill
– Car Payment
If you are sending money to your friend you will just need to input their name, phone number, and address:
Remember, you are earning points even while you are meeting your minimum spend. Every card earns at least 1 point per dollar. That is a 1% return at a minimum. If you have to pay a 2.5% service charge you can subtract the 1% you are earning and you are actually only being charged 1.5% to meet your minimum spend, that isn’t bad when you are earning free flight/hotels.
Here is a preview of what the check will look like once they mail it:
Remember, the worst thing that you can do is not meet your minimum spend and miss out on your bonus! If you can avoid service charges, like paying for gas and groceries, that is preferred. But again, you don’t want to miss out on your bonus so 2.5% is worth $300-$500 in free travel.