What Is Plastiq? | How To Pay Your Mortgage Or Other Loans With A Credit Card | Plastiq Review 2020

What Is Plastiq? | How To Pay Your Mortgage Or Other Loans With A Credit Card | Plastiq Review 2020

So what is plastic Well, you know it's a great service, you know what it is .
You know what you can actually do with the plastic that you know it for and how much it costs you know uh if there is a cost on it well these are all great questions and we're going to break them all down in today's video hi everyone Mike Adams and on this .
A channel that enables individuals to achieve freedom in financial improvement Literacy and business ownership If you are new to the channel make sure to click subscribe and hit that bell that way you can be notified of any and all of our future content so in today's video we're going to give you uh really just my review and that's really a review An updated video on a plastic service and so we're going to break up and cover you know what plastic is and it's actually plastic for and what you can do with it and we're also going to detail you know what are the costs and one of the fees ?
using this special service let's start what is plastic plastic well is a service that basically allows you to pay your bills with credit card and you may say mike ok i can actually pay my bills with credit card what do you mean ok in a lot of situations you can't pay all your bills directly with credit card so If you want to pay let's say you're the mortgage right or you want to pay rent or you want to pay off your student loan pay off or car loan you usually know you can't even some utility bills you know you can't pay by credit card they usually want to You pay it either cash or check or you know the automatic debit directly from your bank account but in many cases you will make more meaning keep that money and use the leverage Use the leverage within your credit limit to pay some of these bills now if you 've been on this channel for a while you know that There are strategies we use such as speed banking where we want to make large payments to pay off our loans faster Take advantage of credit limit and plastic is a great service that allows you to pay or make payments These big payments are directly to your loan with your credit card even if you have a credit card let's say it's not the typical balance transfer offering Checks we'd like to use in strategy Know if your card doesn't show who you can still use your card to pay Some of these loan companies use plastic and basically How the service works is they put a credit card taped in plastic and what they do is they literally do to your credit card like a normal transaction let's say you want to pay a mortgage to operate your card like a normal transaction and then they will either do like an electronic check for your loan company or mail a physical check to your loan company In this way, you know number one.

how does plastiq work

You are able to pay that bill using the balance of the card, but also for the loan company is able to get the check, uh, right, or cash, uh, they now want to use this service, uh, literally, an account only for this service. Is there a fee of 2.85 for using the service, let's say you were Mortgage payment 1,000 and you want to send it to the mortgage company that charges you 2.85 percent to do the transaction you were looking for 28.50 for a user fee The service is now for many who have used balance transfer checks to pay some of their bills this way or make partial payments usually the fees in a credit card for using a balanced transfer choose between three and five percent so by using plastic you can save a little bit on those fees and one thing I like to do when I pay bills is a benz card Credit you know and one of the main reasons why we want to do this is because we want to collect some points okay so we usually want to use you know zero percent interest that you know our balance transfer credit cards that's a zero-interest promotion or do we want to make sure we get some important rewards And there are a lot of great credit cards out there that offer rewards programs where you either get points or miles or maybe you get cash back and there are some great lines where you can get from one to two percent in cashback for using the line uh many cards also have what It's called a minimum spend offer where once you open the line they want you to spend you know they say three thousand dollars they want .
They want you to do 3000 worth of transactions in the first 90 days and so you know if your bills are good low and let's say you're ok you know I can pay for internet pay uh cable I can pay my Netflix right The cables are a bit old, I say cable looks like from Has the cable you know days uh when most people just stream so you netflix you hula sure you can pay all this stuff with a credit card but in 90 days it can be hard to hit that minimum spend or 3000 if you only pay smaller bills with your credit card so if you're going to run, you know the mortgage or car loan from there many times it's a lot easier to make that spending minimum and get that reward off your card so using service plastic is great way to get reward offers and hit the limit Minimum spend and certainly if you use a strategy like speed banking where we make these big payments directly to our loan to pay it off faster plastic is a great service to use for this so you might be wondering ok ok mike that sounds great you know what kind of can i actually pay bills with plastic you know i have to have a certain type of credit card to use this service the good news is you can really use any credit card you have so if you have an american express mastercard or find out can use All of them to pay some bills not all by type of plastic card and I was able to find a great breakdown of paper let's say I'm going to put that on display now say you wanted to pay mortgage approval now you cant use the four types of credit card to pay the mortgage if you want In making the mortgage payment you can use the explore card or you can use MasterCard and they work perfectly Visa and US express doesn't work for mortgage payments so you'll want to keep that in mind when setting up your account Think about the bills you're trying to pay Use the service if you're talking about a mortgage Real estate you need a mastercard or find out you know whether we're talking about making a rent payment or let's say a student loan payment you know you can use all of them you can use in Lisa MasterCard American Express or find out they all work just fine so same if you have to pay some taxes you know or if you owe anything to the government you know is really great using this service you know one of the last institutions you want to be at any time wrote or You owe money to the government if you owe taxes and you have to set up a payment plan they charge you to set up a payment plan they pay you a crazy amount .
Interest over that payment plan is for when IRs are really off limits and so if you have a line of credit available to you you can use a service like Plastic Pay taxes in full so you don't have to deal with them anymore then from .
There you can pay or your credit card in your spare time and also collect some points Know if you have good points Program on your card so that it is just a quick breakdown of some things .
that you can pay with this plastic service again really good company I've used this a few times I've switched a lot of my clients to use this special service and so you can get started for free its free to create an account and it's super easy and we're going to make a couple of videos to follow here to kind of guide you exactly How to set up your plastic account then how to go ahead and start this down payment so we will be making a couple of videos to follow up on that but if you are interested in giving this a try again I highly recommend that there will be a link right below this video where you can sign up for a free plastic account Then again the couple watched the videos we were making .
To guide you step by step how to create your account and get started and make your down payment again making sure you can pay off loans using your credit line so hopefully you 've got value in this short video and in this segmentation of plastic service again highly recommend if you want to give it a try There is a link below this video that you can click on that will take you directly to their page so you can sign up for it completely free to get started and you just pay the fee when you actually use the service until you get to create your account and figure out which card to go to use and you can do it all later in the time but that's all I'll see it in the next video [music] You

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