Request-A-Deal

Looking to put $106k on Plastiq to beat 2.5%

  • Last Updated:
  • Jul 28th, 2020 3:53 pm
[OP]
Jr. Member
Jan 21, 2015
108 posts
62 upvotes
YQR

Looking to put $106k on Plastiq to beat 2.5%

I have a $106k car on order and cash in hand. I’m wondering if anyone in Canada has experience getting better than 2.5% back in rewards (the apparent Plastique fee right now) and a purchase approval limit of $106k.

I don’t really care what card, just want to apply for whichever one and get this initial bonus. It probably wouldn’t become my main card in the long haul, currently on Rogers World Elite MasterCard, PC MasterCard, and gold personal Amex.

Thanks for any advice in advance.
5 replies
Deal Fanatic
User avatar
Jun 13, 2010
6568 posts
8332 upvotes
GTA
Where allows you to put an entire car purchase on a CC? Dealerships allow the deposit on CC but the balance on a certified cheque. They don't want to pay the CC company fees on large amounts.
Deal Expert
Jan 7, 2002
26759 posts
24206 upvotes
Waterloo, ON
If a car dealer lets you pay for the entire car on a credit card then you can be 100% certain that you're paying too much for the car--a much larger amount than just 2.5%.
veni, vidi, Visa
[OP]
Jr. Member
Jan 21, 2015
108 posts
62 upvotes
YQR
Tesla. They don’t have dealers. Plastiq specifically allows you to pay merchants with credit cards when you are generally not able to do that and they take 2.5% as a fee.

The point is to try to find a card that would both allow this purchase, and would net more than 2.5%. The “dealer” or “merchant” side is already good to go.
Deal Expert
User avatar
Jan 9, 2011
15805 posts
21540 upvotes
Vancouver
tew wrote: Where allows you to put an entire car purchase on a CC? Dealerships allow the deposit on CC but the balance on a certified cheque. They don't want to pay the CC company fees on large amounts.
That’s the point of Plastiq, from the merchant’s end it’s not a credit card transaction at all, it’s a bank transfer or paper cheque equivalent and they pay no fees to receive it.

OP too bad you missed the Amex Platinum double double promo, which ended 8 days ago. You could have earned 212,000 MR points cashable for $4,240, minus Plastiq’s fee.
[OP]
Jr. Member
Jan 21, 2015
108 posts
62 upvotes
YQR
Kiraly wrote: That’s the point of Plastiq, from the merchant’s end it’s not a credit card transaction at all, it’s a bank transfer or paper cheque equivalent and they pay no fees to receive it.

OP too bad you missed the Amex Platinum double double promo, which ended 8 days ago. You could have earned 212,000 MR points cashable for $4,240, minus Plastiq’s fee.
Oh wow that's insane. I wish I knew about that a little earlier, I could have made out like a bandit. That's basically exactly what I am after.

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