I pay my mortgage via credit card.
I rely on a third-party payment service called Plastiq to cut a check every month and send it to the financial institution that holds my mortgage. I trust that they’ll send my payment on time and in the right amount. I trust that the delivery service correctly transits my payment from Point A to Point B. I trust that my mortgage holder will accept these checks on my behalf and correctly apply them to my mortgage payments. For this service, I pay Plastiq a 1.5% fee (because I got in on a promotional deal; the regular fee is 2.5%). Meanwhile, my credit card that I make payments with earns 2.1%. Ultimately, I will collect 0.6% on the balance of each transaction. This is called arbitrage. This is also called crazy. Continue reading “Tips, Tricks & Tactics: Paying with Plastiq (aka Treading the Fine Line Between Travel Hacking and Madness)”