We’ve recently established that Plastiq’s services will no longer earn 3x points on rent/mortgage payments with Chase Sapphire Reserve. It goes without warrant to say that their services is the most popular way of paying bills and rent utilizing credit or debit cards. However, it seems that Plastiq went further with renditions towards their services since the Paypal Business Debit Card is now being classified as a credit card and a 2.5% fee will be applicable.
I mean, this is quite understandable to preserve Plastiq’s end when it comes to cutting cost. Such a change shouldn’t be too drastic unless you use your Paypal Business Debit Card to pay rent, moreover, this post is a heed of warning since a 2.5% fee is now attached.
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Plastiq PayPal Business Debit Card Update Summary:
- The Paypal Business Debit Card will be treated as a Credit Card and adhere to the 2.5% fee when paying for rent utilizing Plastiq
PayPal Business Debit Card Features:
- Withdraw money from your PayPal balance at any ATM that displays the MasterCard®, Maestro® or Cirrus® acceptance marks.
- No annual fee.
- Earn unlimited 1% cash back on eligible purchases.t
- MasterCard Zero Liability policy for unauthorized purchases.
Final Analysis:
The PayPal Business Debit Card was a great way for people to liquidate PP balances in the past, however, going forward, you should expect a 2.5% fee applicable via rent payments through Plastiq since the PayPal Business Debit is now being treated as a credit card. Considering the fee attached now, utilizing the card would make no sense. Seems like Plastiq is keeping a consistency with the changes, from updating the rent/mortgage payment coded 3x on the CSR to the PPBDC getting 2.5%. It leads me to ask myself what is in store for Plastiq because surely a 2.5% fee isn’t necessarily profitable and cutting back on cost is a necessity for them right now. Don’t forget to check out our full list of Credit Card Bonuses if you’re not interested at the moment.
