Credit Cards

Paytm: Pay House Bills with any MC, no referrals in thread, no pay CC with CC - Officially USELESS?

  • Last Updated:
  • Aug 2nd, 2020 9:28 pm
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Newbie
Dec 3, 2010
58 posts
26 upvotes
So is it better to go with Plastiq + PayPower MC (purchased by Amex Cobalt) now?
Deal Addict
User avatar
Apr 3, 2013
1222 posts
872 upvotes
Toronto
Simby wrote: CTFS is Canadian Tire? What is the benefit of making bill payments with CTFS?
1% back in CT money, if you have the Triangle WE.
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Tangerine
Deal Fanatic
Nov 6, 2018
5687 posts
4790 upvotes
projector wrote: Yeah this is a good point. I just took a look at my PayTM history. Only really paid 3-4 bills via credit card. Guess I'll move those to CTFS and maybe keep paying off my credit cards via PayTM for $2-3 a month lol.
Is there any added benefit to going the PayTM Cash route to pay off credit cards over using a linked bank account to pay off credit cards? Other than the fact that you're keeping your bank account info out of their hands
coolintheshade wrote: No added benefit.
Actually I find it’s more inconvenient to go the cash route, as there’s a daily limit you can load at CP outlets, and people have experienced delays sending funds via e-transfer.
Myself, I like the simplicity of the linked bank account, knowing that PayTM does not have actual access to my bank account numbers, or my banking login credentials.
I find most of my cc bills get paid quicker with paytm vs straight from my bank.

But again there's limitations of loading paytm cash and only getting upto 2000 points a month.

I'm almost certain paytm will feel the payn this time around with their added convenience fee for all bill payees.
Deal Fanatic
Sep 9, 2003
7826 posts
1406 upvotes
Burnaby
Simby wrote: CTFS is Canadian Tire? What is the benefit of making bill payments with CTFS?
No fee payments (payee list purged credit cards years ago).
Greater than 1K per payment possible (pay up to your credit line).
Limited risk of pulling it anytime soon, the original thread blew up on RFD in 2012 and must have existed before then too.

Downside you're limited to Triangle at 1 percent or cash advantage which is tiered between 0.25 to 1 percent, and only goes to 1.5% after $24K in spend
Sr. Member
Sep 8, 2006
843 posts
513 upvotes
Edmonton
injust wrote: 1% back in CT money, if you have the Triangle WE.
But the service charge is 1.75% so it does not seem worthwhile?
Deal Addict
User avatar
Apr 3, 2013
1222 posts
872 upvotes
Toronto
Simby wrote: But the service charge is 1.75% so it does not seem worthwhile?
What service charge? It's a straight up purchase, not a cash advance.
The 1.75% convenience fee we're discussing is for Paytm. CTFS is the alternative now that Paytm is dead.
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Tangerine
Deal Addict
Jan 11, 2004
4921 posts
505 upvotes
Victoria
cyoon84 wrote: So is it better to go with Plastiq + PayPower MC (purchased by Amex Cobalt) now?
What's the process for this one?
Not a political sig
Deal Fanatic
User avatar
Aug 24, 2016
6908 posts
6636 upvotes
The Prairies
Gtaphotog wrote: I find most of my cc bills get paid quicker with paytm vs straight from my bank.

But again there's limitations of loading paytm cash and only getting upto 2000 points a month.

I'm almost certain paytm will feel the payn this time around with their added convenience fee for all bill payees.
Plus 1500 bonus points if you pay 5 different credit cards, which is easy to do.
Deal Fanatic
Jul 22, 2007
5846 posts
4805 upvotes
Calgary
Calgary doesn't accept credit cards for property tax so this is a bummer and Enmax power .
Newbie
Jul 18, 2015
19 posts
9 upvotes
Ontario
Got the email, redeemed my last points, and deleted the app. Thanks paytm it was a good ride while it lasted.
Deal Addict
User avatar
Feb 1, 2006
3095 posts
947 upvotes
Ontario
RIP, PayTM fee free Mastercard payments.

$1.50 for paying 5 payees + $1 for Tweets will be next on the chopping block...0.1% bonus ($2/$2000) for CC payments will probably continue for awhile...but Autopay is much easier/faster!
Cards:HSBC WE MC 1.5%/3% travel 0 FX MC acceptance 31 day med AF $49
CTC WE MC 3% grocery, 3.54% CTC, RA, billpay
Bank: Alterna (1.9%, no fees)
Brokers: IB (For. stocks/low comm)/Reg. RBCDI(service, USD)
Jr. Member
Dec 13, 2014
122 posts
23 upvotes
Toronto, ON
No more PayTM for me.
Finally spent my points on giftcards too
Sr. Member
User avatar
Jul 25, 2018
644 posts
372 upvotes
Winnipeg, MB
coolintheshade wrote: Plus 1500 bonus points if you pay 5 different credit cards, which is easy to do.
2000 points for $2000 worth of credit cards paid
1500 points for 5 different bills (credit cards) paid off

=$3.50 a month

I might have to start using 5 different (min of $50 each?) cards just so I can pay 5 bills a month hahahha
Deal Addict
Nov 13, 2006
1058 posts
648 upvotes
Wow.....Long Live PAYTM


Hi there,

Starting November 1st, 2019, Paytm customers will be charged a 1.75% Credit Card convenience fee and 1.25% Debit Card convenience fee on every bill payment for all categories.

It's important to note that if you have an upcoming bill payment scheduled for November 1st and onwards, you will be charged a convenience fee if you are paying with a credit card and/or debit card.

You will not be charged a convenience fee when you make a bill payment using either your bank account or Paytm Cash, or when you purchase an e-gift card using a credit card or debit card. American Express credit card convenience fees will remain at 3%.
Deal Fanatic
Nov 6, 2018
5687 posts
4790 upvotes
projector wrote: 2000 points for $2000 worth of credit cards paid
1500 points for 5 different bills (credit cards) paid off

=$3.50 a month

I might have to start using 5 different (min of $50 each?) cards just so I can pay 5 bills a month hahahha
I was recently told the payments have to be a minimum of $25

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