November is almost here, which means it’s time to pay rent again. AMEX (American Express) recently announced its 2016 Shop Small promotion for Small Business Saturday, and all purchases at small merchants can earn double points. Surprisingly, a large number of people on Reddit reported today that Plastiq is being coded by AMEX as a Small Business merchant, which effectively means all AMEX cards can earn 2x points there.
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Details
Use an AMEX card on Plastiq to pay rent, various taxes, loan payments, and other bills. Since Plastiq is currently running a promotion, you can get a discounted fee of 2.25%. Through the end of 2016, AMEX cards on Plastiq can earn double base points. For example, you can use an SPG card on Plastiq to pay bills and earn 2x SPG points (worth more than 4.4% back, with net profit of about 2.15% after fees). If you use the Everyday Preferred card, you can earn 2.5x MR points as well (conservatively worth more than 4%, with net profit of 1.75%). Other MR cards have slightly lower returns at 2x MR, but that can still offset the fee. If you don’t have a Plastiq account, you can register through our referral link, and you can also receive $200 in fee-free dollars. Thanks for your support.
Data Points
Reported AMEX cards that have earned 2x points include the SPG card and the Everyday Preferred card. Although we do not have additional data points yet, since the AMEX merchant coding should be the same, we believe all AMEX cards should receive 2x points. We recommend paying as soon as possible—Radpad has already been killed off by people gaming rent payments. Deals like this never last long. Also, we cannot guarantee that AMEX will not suddenly change Plastiq’s category. We will try to update any changes as quickly as possible. You can also bookmark this post and check before paying rent each month to confirm this deal is still alive. Have you used Plastiq?