Plastiq Says We’ll Love The Changes To Their Referral Program — Are They Right?

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Plastiq is the service that lets you pay bills with a credit card that you otherwise couldn’t. I’ve been using it on and off almost since they launched and have become quite a fan. I’ve used them to pay our mortgage, insurance, electric bill, and property taxes, at one point or another.

There are fees involved, so you really need to crunch your own numbers and decide if it’s a good deal for you. But if you need to meet the minimum spend on a credit card to earn a mega bonus, or can take advantage of one of their various promotions, it really can make sense.

Plastiq also has a nice referral program, which they recently made changes to. But don’t worry, they assured us we’d love the changes. Because we’ve never heard that before.

plastiq changes referral program

Plastiq’s new referral program

Plastiq is now offering 1000 fee-free dollars for each person you refer, which is awesome. That’s even more than the 800 they were offering during the last promotion which just ended, which was itself double the usual rate of 400. Do you see a trend here?

The person being referred still gets half what the referred gets, which means they now get 500.


The catch is that the person being referred needs to pay at least $500 worth of bills before anyone gets the bonus.

They don’t have to do this all at once, however, but rather cumulatively. That means they could pay a $100 bill each month for 5 months. In the past, of course, they only had to make a payment, size didn’t matter.

My thoughts

Under the new scheme, Plastiq will only pay a referral bonus for new accounts that actually generate some revenue for the company. If somebody opens an account, makes a $10 payment, and then disappears, you won’t get a referral bonus. They need to actually generate a bit of revenue for the company. That seems totally reasonable to me.

In fact, I wouldn’t have been surprised if they had just added the $500 requirement but kept the bonus the same. But instead they raised the bar, but also raised the payout. That’s pretty cool. And gives us an incentive to actually send them good customers.

And honestly, I don’t think $500 is a very hard hurdle, at least for anyone who is really planning to use the service. For most of us, that’s probably less than a month of rent, insurance, or a lot of things. So assuming your friends were really planning to use Plastiq — and not just game the bonus — then you’ll come out ahead under the new program. At least that’s the way I see it.


Bottom line

Plastiq has made some tweaks to their referral program, and they are changes that I like. I’ve already referred a friend under the new system and received 1000 fee-free dollars, which is awesome. It’s great to see a company make changes that really and truly benefit both us and them. Kudos to them.

What do you think of the new changes to Plastiq’s referral program?


  1. Cant blame them. I was referring for folks and have them just do $20 (fee 50 cents) just for the fee free $

  2. Sweet, just got $1000 FFD to use to pay for my mortgage and help meet my min spend for Chase Ink Preferred ! My friend that I referred got $500 FFD and I got $1000 for referring him after he made $500 in payments (It can take up to 1 day to get bonus). Appreciate it if you use my link below:

    Referral code: 648842

  3. I didn’t know until recently that they code rent and mortgage payments as “Travel” too. Used the CSR for my rent (I usually used Amex), and sure enough – 3x points!

  4. @Peter – The change to coding of rent payments as travel is a recent change — I believe it started in the second week of April — which is why you probably hadn’t realized it until now.

    (Might as well add my own referral code here while I’m at it.)

    Referral code: 645636

  5. Thank you! Just used Jackie’s referral code!
    My code is 712426 in case anyone needs another one. 🙂

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