Plastiq Mastercard Mortgage Promotion
Schedule at least 6 rent or mortgage payments with your MasterCard, by September 30, and lock in a 1.75% rate on those payments.
How It Works
1. Schedule 6 or more payments, as far into the future as you’d like.
2. Make sure those payments are for rent or mortgage.
3. Use your MasterCard.
4. Do it before September 30, 2016, 11:59 p.m. PT.
The normal fee is 2%, so this isn’t a huge discount, but it might be just enough incentive to get me to switch my mortgage payments over. According to a few sources, the average mortgage in the U.S. is anywhere from $900-$1500 per month. Using a number in the middle, we can look at the profit over a year with a card like the Barclaycard Arrival Plus which earns an effective cashback rate of about 2.10%.
- $1,200 X 12 months = $14,400
- Total fees @ 1.75% = $252
- Total cashback @~2.10% = $302.40
- Total profit = $50.40
As you can see this isn’t going to change your life, but if you already have a Mastercard like the Arrival Plus, then spending a couple of minutes to setup the payments will probably make sense.
Update: I’m not sure how I forgot this, but the AT&T Access More card is also known to code as 3X with Plastiq. That would be an even better deal than the Arrival Plus. Thanks to Aaron for reminding me in the comments.
Get $200 Fee Free Dollars
Plastiq has a referral program for all members. If you sign-up with someone’s referral link you get $200 fee-free dollars for payments. Here is my referral link if you are new to Plastiq.
For me, this promotion will make it worth moving over my mortgage payments to Plastiq considering I already have the Arrival Plus card and can earn a few extra bucks towards free travel. No, this isn’t free rent, but then again there is no such thing anymore.