Just following up on this. This is the DP I saw on r/churning a few days ago:
https://www.reddit.com/r/churning/comments/b9bb9z/data_points_central_thread_week_of_april_04_2019/ek5n9hj/ There are a few other scattered reports of Metabank MCGCs coding for only a 1% fee on Plastiq recently.
The above DP reports their MCGC came from OD and was issued by MetaBank in black packaging with 5113 320X starting numbers.
I picked up $50 and $100 fixed denomination Metabank MCGCs from Safeway in the shiny silver ($50s) and gold ($100) packaging during the recent $10/$15 off deal, all with 5113 320X numbers, and they also triggered only a 1% fee when I liquidated them towards student loans on Plastiq.
@wintotty - yes, you can use MCGCs to pay for your car loan through Plastiq.
Amex cards are not accepted as payment for car loans (and many other things) on Plastiq, and VGCs generally don’t work on Plastiq even though Visa credit cards do work for most things (except mortgages being the big exception).
However, to get your MCGCs to work on Plastiq, you’ll have to register them with your name and personal information, and you may need to add them to Masterpass first, then add them to your Plastiq wallet by selecting the MCGC from Masterpass.
Generally, Plastiq will process the MCGCs like Mastercard credit cards and charge a 2.5% fee, so you need to account for that fee (e.g., $48.78 + 2.5% = $50; $97.56 + 2.5% = $100; $487.80 x 2.5% = $500), unless you have FFDs or your MCGC triggers only a 1% fee (then, $49.50 + 1% = $50; $99.01 + 1% = $100; $198.02 + 1% = $200).
You should also be aware about how your car loan will apply multiple partial payments towards your statement balance, principle and interest.
Also know that MCGCs and other prepaid cards carry activation fees that can range from $3.95 to $8.95, so you could be paying 1-3% fees on the prepaid card before Plastiq charges its 1% or 2.5% fee. Look for deals when grocery stores or office supply stores offer no fees or some $X off on the prepaid cards.
However, since you’re working on an MSR for an Amex card, do not buy VGCs/MCGCs or any gift cards from office supply stores like Office Depot/Max or Staples because they share Level 3 data with Amex, so Amex will know exactly what you purchased at these office supply stores, and Amex RATs have been known to not count your spend on prepaid and gift cards towards your MSR. Gift card purchases at grocery stores and home improvement stores are generally ok.
