Get some cash back by using your rewards credit to pay other bills.

I normally don't make commercial posts here, but hey, never say never

If you don't already have a credit card that earns rewards, feel free to skip this post.

But if you do, read on. Especially if the card has a sign-up bonus that requires a minimum amount of spending.

Here is how it works :

1. Sign up for Plastiq with my referral link at https://try.plastiq.com/481042 .  If you don't use this link, then the promotion described below won't apply. Make sure to click "continue to site", as for some reason the "send download link" doesn't actually work at the moment.
   
2. Using your rewards credit card on Plastiq, make a $20 payment towards any bill you have, except a credit card. You will incur a 2.5% fee of 50 cents.
3. A few hours after your payment is complete, you will earn $200 fee-free dollars.
4. Using your rewards credit card on Plastiq, make a $200 payment towards any bill you have, except a credit card. You will not incur a fee.
5. Make sure you pay your credit card in full every month to avoid interest - otherwise this doesn't make sense.
6. Afterwards, you will earn rewards on your credit card on a $220.50 purchase. With a typical 1% cash back credit card, this would be $2.20 . Or it could be much more, depending on the card you have. If you have a signup bonus with minimum spending to satisfy, it could be far more. For example, with a card that requires $4000 spending in 3 months to earn $500 cash back, the math is as follows :
   a) 220/4000 * 500 =$27.50 cash back earn from the signup bonus
   b) 220 *0.01 = $2.20 cash back earn from regular 1% spending
   Total cash back earned : $29.50

If you do signup, definitely do it through a referral link, preferrably mine, otherwise you won't get the $200 fee-free dollars for making the $20 payment. With the regular 2.5% fee, using Plastiq typically does not make sense. It only makes sense if the fee is much lower, or waived, as in the case of this promotion.

Note that the referrer (hopefully me) will also get $400 fee-free dollars. Once you have an account, you can refer somebody else and earn more fee-free dollars to earn more rewards on your card.


This is useful to earn rewards on your regular bills that you typically can't pay with a credit card, such as your mortgage, electric & gas company, water company, etc.

I suspect the Plastiq promotion won't last forever. I will take down this post when the referral program ends, as it surely will after Plastiq gets a sufficient number of users.