Plastiq experts, can you advise about using AmEx to make a mortgage payment? I know there have been some references to changing the name of the payee so it doesn't say "mortgage" - does that work for AmEx or only Chase?
ETA: It looks like my thought to use Plastiq to meet minimum spend for a sign-up bonus on an AmEx card is a bad idea. I guess I will find out if my utilities have a limit as to how much I can prepay . . .
I’ve seen DPs — a few months old by now — that say changing the name of your mortgage recipient enough can get your payment around Amex’s ban. My guess is to comply with Amex’s policy, Plastiq has a blacklist of mortgage providers and servicers that prevent payment if you try to pay any off that list; but if you change the name of your recipient enough, your payment might slip through.
Yes, cannot use Amex to make mortgage payments through plastiq
It looks like that was a bad idea even if it had been possible. I found someone on one of the travel blogs saying that AmEx had considered his Plastiq rent payment to be a "cash equivalent" and therefore didn't count towards meeting the spending requirement.
Officially, Plastiq’s terms of service does not support mortgage payments (although it seems you can, and Plastiq even suggests in its error message for Visa/Amex that you pay mortgages using MasterCard and Discover).
4 Acceptable Use
4.1 Restricted Activities
You agree not to use the Services:
- For unsupported transfers, including sending money
- to yourself or an entity in which you have control;
- on behalf of another party;
- not in direct exchange for a rendered good or service;
- for alimony or to escrow accounts;
- for goods or services whose delivery or completion has not yet been confirmed;
- as a donation to an organization not classified as a registered charity;
- other than for legitimate payment purposes (e.g., to test or probe card behaviors).
- For unsupported goods and services, including
- gambling and related activity (such as lotteries, bidding fee auctions, sports forecasting or odds making, fantasy sports leagues, internet gaming, contests, sweepstakes, and games of chance);
- unsupported debt types (such as credit card balances, mortgage payments, or uncollateralized loans);
- certain investment accounts or to fund unsupported investments, including but not limited to 401(k) accounts, 403(b) plans, 457 plans, 529 plans, and IRAs;
- controlled substances and related goods or services;
- tobacco, e-cigaretttes, and e-liquid;
- products sold by online pharmacies;
- pornography, obscene materials, and sexually-related services;
- weapons, munitions, gunpowder, fireworks, and other explosives;
- toxic, flammable, and radioactive materials; or
- other goods and services subject to government regulation.
- For Payment to a Recipient in an unsupported industry:
- For Recipients in the United States, the use of American Express cards is permitted for the following industries: Government, Utilities, Education, Residential Rent, and Club Fees & Memberships.
I’m a little surprised that Amex would consider a rent payment through Plastiq as cash equivalent and not count it towards minimum spend. That’s the first I’ve read about it. I used Plastiq to pay my DD’s preschool tuition on my SPG Biz and it counted towards the minimum spend. Sounds more like YMMV rather than systemic at this point.
All this talk about the CIP makes me think I should rethink my strategy once I am under 5/24 in March. DH has CIP. I don’t, but then he has a legitimate business (not making much right now but has invested equipment, has licensing etc). I know it has been posted as a question before but just wondering if anyone has had success with having you and your spouse both get the CIP for the same joint owned business? On the doing business as license with the State I am the co-owner and I am the one who is doing the financial aspects.
If you have separate businesses does anyone have thoughts of whether or not I would be successful pitching it as a travel business? I do plan trips for others...not so much getting paid other than thanks and sometimes gift cards but potentially it could grow into something more.
I’ve seen some DPs about co-owners of a jointly owned business going for their own CIPs. I recall that it’s allowed, but you can’t both use the business’s EIN/Tax ID number; one of you may have to use your SSN. I’d double check.
Kind of a silly question but I figure one of you will be able to answer this right off hand for me. I am trying to accumulate a lot of UR points to book a WDW trip. If I have DH apply for CIP and get that, can he transfer his UR points to me so I can book a WDW vacation all at once through the portal on my account? Or would it be better for me to get that card?
Does that make sense? Didn't know if that would be a problem or not and didn't want to have issues with transferring UR points around or having to use his to book something else when I really want them for the WDW trip.
Yes, you can have your DH apply for the CIP, earn the bonus, accumulate points every month, and transfer them to you. Ideally, you’d pool all your household’s points onto a CSR account for the 50% added value when booking travel through the Chase UR portal. I transfer my wife’s CIP, CSR, and Freedom points to my CSR after those cards’ billing cycles close every month.
The answer to the question is yes. You may transfer either between your own accounts or to one (only one) member of your household. I would also suggest that each of you apply for and get your own CIP account and card. 160,000 + UR points is better than 80,000 + UR points.
Don’t forget the 20,000 UR referral bonus! Have one spouse get the CIP first, then the other spouse applies using the first spouse’s referral link.