Plastiq is making some positive changes to the way payments are processed when using a personal Visa credit card. From now on, all Visa personal cards on Plastiq are unblocked in the following payment categories:
- Residential Rent & HOA Fees
- Commercial Rent
- Taxes & Government Fees
- Utilities (Electricity, Cable, Internet, Telecom)
- Tuition (including daycare and camp)
The change is a part of a new processing program with Visa. The above five categories of payments will process in their respective MCC’s as standard purchases.
Under this new processing program, Visa personal card payments in these above categories should be treated with full rewards (if applicable) and not subject to cash advance. However, purchase and reward treatment is ultimately up to the card issuer.
There are no changes to Visa business card payments, Canadian payments, nor Visa personal card payments in other categories. You can check out this chart for more information on Plastiq payments. Also check out their blog post regarding this recent change.
This is good news for those looking to make payments with Visa cards. Plastiq is a good way to increase your credit card spending, and could even net you cheap rewards when they have promotions.
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. There’s also a better bonus for business accounts.