I receive compensation for content and many links on this blog. Citibank is an advertising partner of this site, as is American Express, Chase, Barclays and Capital One. Any opinions expressed in this post are my own, and have not been reviewed, approved, or endorsed by my advertising partners. I do not write about all credit cards that are available -- instead focusing on miles, points, and cash back (and currencies that can be converted into the same). Terms apply to the offers and benefits listed on this page.
Plastiq.com is a service that will charge your credit card and mail checks on your behalf. (With some vendors they also make electronic ACH payments.)
Their usual fee for this is 2.5%. It’s worth it to incur that fee if you’re earning a signup bonus with the credit card charges, or you’re meeting a spending threshold for a bonus.
In April they briefly offered payments with a 1.5% fee if you used a Mastercard. This turned out to be a mistake, but they honored bills that had been scheduled. Since they only accept Mastercard if you’re paying a mortgage I scheduled out a year’s worth of mortgage payments for the miles.
This may be a targeted promotion. If you haven’t gotten an email from Plastiq, go ahead and start a payment. Fee info is on the second to last step, so you still have time to back out if you’re not getting the promotional rate.
I generally advise that it’s not worth it for the ongoing miles without a spending bonus. You don’t want to incur a 2.5% fee to earn 1 mile, you’re buying that mile at 2.5 cents. No mile is worth that.
There is an exception: for business spending companies can generally write off the fee. If you’re paying business bills via Plastiq.com your net cost is 2.5% minus (2.5% * your marginal tax rate). At 1.5% though I’m interested.
Some people who were eligible for this offer had difficulty using it at first, if you’re one of them try again those issues should be fixed.