Update: Only bills scheduled until 5/31 will be fee-free up to $500. After that the limit will be lowered to $250.
Plastiq has a great new promotion where you can pay $500 bills, or the first $500 of bigger bills, with a Mastercard credit card without a fee. To qualify for the fee-free promotion, you need to use your MasterCard credit card through MasterPass. I’m not sure how many bills you’re allowed to pay, but there’s no limit mentioned in terms. This could get you free credit card rewards or just plain cash back. The offer is for new and current customers and it goes on until September 30.
It is a ‘too good to be true’ type of promotion, so it might not last that long. You should be able to set up as many payment as you want, as long as the due date is before 9/30. You can prepay your mortgage, rent, other services and hopefully you can do it in $500 increments.
If you’re a current customer you can use this promotion right away. If you don’t have an account, you can sign up through a referral and get $500 fee-free dollars. You need to make a payment of at least $500 first, and then use this Mastercard promotion. That first $500 should also be fee-free through the signup bonus.
To use MasterPass, in the final step click “Edit” payment method. Then add new card and you’ll see an option for “More Ways to Add”. MasterPass will be the only option there. If you have trouble getting to the correct MasterPass wallet, you can switch between wallets at the bottom right of your screen on your MasterPass log in. You can also try incognito to get the plain MasterPass wallet. If you’ve never used it, then you can sign up here for an account.
- Can only be used up to the first $500 on each transaction
- Must have made $500 in payments, in their account history to qualify (This requirement blocks people from creating multiple accounts)
- Need to use a MasterCard that they added to their MasterPass Wallet.
- Any @mastercard.com emails are excluded from the promotion
- Offer valid May 14, 2018 to September 30, 2018 11:59 p.m. ET
Promo Page(offer page is no longer working but the promotion is still going on)
Paying through Plastiq doesn’t always make sense since they charge a 2.5% fee for credit cards and 1% for debit cards. So it’s usually more about being an easy option than a profitable one. But this promotion lets you pay bills for free. It only applies to MasterCard credit cards, especially with a card that earns at least 2%. If you use your Citi Double Cash card for example, you would be making a profit of $10 for every $500 bill that you pay through this promotion.
If you’ve never tried Plastiq you can sign up through my referral and you get $500 in fee-free spending. That means that you can pay any bill up to $500 with a credit card with no fee. New users must hit the required minimum of $500 in successful payments before they are eligible for this promotion, but at least with a referral you do not pay a fee on that first $500 either.