U.S. Bank Blocks Plastiq Transactions for Loan Payments
Plastiq is a service that lets you use a credit card to pay bills that wouldn’t normally be payable with a card. You can also earn rewards on these bill payments, but with the 2.85% fee you rarely come out ahead unless there’s a promotion. Some credit card issuers have limitations on what bills can be paid through Plastiq. And now, U.S. Bank is blocking some categories.
For U.S. Bank cardholders, payments for loans are no longer supported on Plastiq. The following payment categories are restricted for all credit cards (i.e. Visa, Mastercard and American Express) issued by U.S. Bank:
- Mortgage
- Home Equity Line of Credit
- Auto Loans
- Student Loans
If you are planning to make a loan payment with Plastiq, please note that these transactions will be blocked for all U.S. Bank credit cards. This policy does not apply to U.S. Bank issued debit cards.
HT: stealthytaco
