How to Meet Minimum Spend Using Plastiq 2018

Plastiq is a service that lets you use your credit card in places that otherwise wouldn't accept card payments. There is a 2.5% flat fee for all transactions. 

The idea is that you can pay for goods or services with a credit card, and Plastiq will generate either a check, ACH payment, or wire.

If your decide to use Plastiq to send electronic payments, the following timelines apply:

  • Domestic Wire (Payment arrives same-day)
  • International Wire (Payment arrives next-day)
  • ACH Direct Deposit (Payment arrives in 4-5 business days or expedited option available)

As a side note, always leave a few days buffer room from the due date in case any issues arise.

An example is paying your rent with Plastiq, especially if you live in an expensive city ($2,000+/month in rent). The benefit is that you'll be able to receive credit card points for paying rent, especially if you're trying to meet minimum spend on a new credit card. 

For all other scenarios where you're only earning 2% cash back on a card, it might not make sense to use Plastiq since the fee is 2.5%. 

Meeting Minimum Spend with Plastiq

With most minimum spends, you're likely getting ~ 20% return on spend. Paying a 2.5% fee for using Plastiq nets an ~18% return on spend. 


a) $200 cash back after $500 spend = 40% return on spend (ROS)
b) $625 in travel after $4,000 spend = 15.6% ROS
c) 2 nights in a $300 hotel after $2,000 spend = 30% ROS

Why this matters:

If you're getting ~20% ROS but paying 2.5% to do it, you're getting a "free" 17.5% in value = free vacation.

Try Plastiq and get $500 in fee-free payments after you spend $500 (referral link):

In terms of normal spend, the American Express SPG card and the Amex Blue Busines Plus cards are examples of cards that earn a higher value than the 2.5% fee.

1) Amex SPG / SPG Business

  • 1x SPG points on all transactions
  • If redeemed at 3 CPP = 1x * 3 CPP = 3%
  • 3% value - 2.5% Plastiq fee = 0.5% net value

Note: Unless you have a specific redemption in mind for the Amex SPG where you'll earn more than 2.5%, I don't recommend taking this route. 

2) Amex Blue Business Plus

  • 2x MR points on all transactions (cap of $50,000)
  • If redeemed at 2 CPP^ = 2 x * 2 CPP = 4%
  • 4% value - 2.5% Plastiq fee = 1.5% net value

^ transfer partners; likely business/first class flight

You can view credit card offers by going to the "Credit Card Offers" tab. Find offers for the respective cards in "Point Rewards Credit Cards" and "Business Credit Cards." You don't have to use our links, but we're grateful when you do. Thank you for supporting AskSebby!

Payments Allowed by Plastiq (2018)

American Express

Plastiq accepts American Express payments for club fees & memberships, education, government (i.e., taxes), residential rent, and utilities. You cannot pay your mortgage with American Express. 

Discover and Mastercard

Discover and Mastercard accept all types of payments, including mortgages.


Visa payments are allowed, but you'll need to use a different payment processor with the vendor initially to avoid the transaction coding as a cash advance. 

For example, if you're paying rent for the first time with Plastiq, you would need to use Amex, Discover, or Mastercard first, and then the "cash advance" will disappear. 

You cannot pay your mortgage with Visa.

What is Excluded?

Plastiq does not work for peer-to-peer payments, paying off other credit cards, and things of that nature that the card brands do not allow.

For example, you cannot pay your roommate or your family members with Plastiq. 

Try Plastiq and get $500 in fee-free payments after you spend $500 (referral link):