Update: There’s also confirmation from Plastiq. One of the company’s Product Marketing Managers confirmed by email that all “Plastiq payments qualify as small business payments”.
Plastiq, a service that lets you pay bills with a credit card for a fee, is coding as “Small Business” on American Express cards. The reports come from reddit thread. There’s a few reasons why this piece of news might be useful.
First, Plastiq is running a promo right now. They have lowered the fee for paying your rent/mortgage with a Mastercard or Amex credit card. Both fees have been lowered by 0.25% so you will now be charged 1.75% for using a MasterCard and 2.25% for using Amex. You need to schedule 6 or more payments, as far into the future as you’d lik, but you need to do it by October 31.
Then Amex is running its own Small Business promo. You will earn 2X rewards when they enroll an eligible Amex Card and shop at small businesses between now and December 31, 2016. Since Plastiq is coding as “Small Business”, it would qualify for this promo.
Then there’s these two promos on the personal Amex SPG and the business version. Combined with the “Small Business” 2X rewards, you would get 3 Starpoints per dollar if you spend the required $5K or $10K.
You’re only paying a 2.25% on an Amex card, so even if you value Starpoints at 1 cent, you still come ahead. But as you know, these points are worth well over 2 cents a piece, so you’re looking more at a value of 7x.