American Express is running a promotion for double points when you use your Amex card at small businesses, until the end of the year. Some have noticed that payments through Plastiq appear to code as “Small Businesses,” thus eligible for the 2x bonus.
I tried it out myself earlier this week, and a payment to Verizon (definitely not a small business) earned double points with my Platinum Card. Interestingly, American Express coded the purchase correctly, as “Utilities,” but I still earned bonus points through the Small Business offer.
Well, now Plastiq is announcing publicly that you could earn double points when you pay with an American Express card via a blog post.
From now until December 31, you can get 2x rewards when you use Plastiq and your American Express card!
Get double rewards by earning 1 additional Membership Rewards point for each dollar spent through Plastiq. Offer is available through 12/31/16, on up to $100,000 in purchases ($250,000 for small business cards).
This means that you get double the rewards when you pay your rent or mortgage, tuition, property taxes, auto loan, and anything else you can think of, so long as you do it through Plastiq.
Your card must be enrolled in the Membership Rewards program, so click here to enroll now.
They have also emailed Plastiq users about the same news.
I am not sure if AMEX okay’ed this, or if they think the increase in volume is worth keeping the bonus around, but I’d definitely get on this. Specifically, Plastiq is still offering reduced fees if you schedule 6 or more rent/mortgage payments by the end of October.
There are a few ways to maximize the earning potential here. Personally, I’m using the American Express Business Platinum card for purchases over $5,000, since I’ll earn 1.5x points, plus the “Small Business bonus.” This means I will earn 2.5 points per dollar spent, if I spend over $5,000 in one transaction. For smaller purchases, I am using my American Express SPG Card, since I will earn 2 Starpoints per dollar spent. Even factoring in Plastiq’s fees, which max out at 2.5% for using American Express cards, I will still come out ahead, because I value 1 Starpoint at more than 1.25 cents. Of course, as always, you should do your own math to see if this deal is worth it to you.
If you’re looking to check out Plastiq, feel free to use my link to sign-up. I will get a referral bonus, but you will receive 200 fee-free dollars after your first payment as well.