Blue Business Plus & Plastiq For Bill Payments?

The other day I wrote about how I’m in the market for a new everyday spend card. I debated the merits of the American Express Everyday Preferred vs Blue Business Plus. With a typical month of spending, the Everyday Preferred edged the Blue Business Plus. After a few days of reflection, I’m wondering whether the combination of Blue Business Plus & Plastiq for bill payments might make it a better option.

Non-Bonus Spend With Plastiq

At the time I compared the two with the mindset that I’d be using the cards for typical spend. Things like Amazon, groceries, and gas.  The one caveat was that if your non-bonus spend is high, then the Blue Business Plus would come out on top. Enter Plastiq, a bill pay service that allows you to pay any bill with a credit card. For the convenience, Plastiq charges 2.5% or less.

For the purpose of this exercise, let’s assume that I’ll be charged 2.5% on each transaction. We know that American Express Membership Rewards are valued right around 1.8 cents each. Therefore, you be earning roughly 3.6 cents worth of Membership Rewards per dollar spend since the Blue Business Plus gives 2X points on all transactions. As a result, you’ll come out “ahead” by approximately 1.1 cents per dollar spent. To make sure you get full value for your Membership Rewards points, we’ve created a Membership Rewards Transfer Guide to help you out. The key is to maximizing your rewards, otherwise this doesn’t make sense.

American Express Blue Business Plus

So What’s The Plan?

With the earnings rate outlined above, maybe it’s time to start charging all non-bonus spend to a Blue Business Plus. The mortgage, car payments, daycare, and anything else that’s typically paid by check. That’s a lot of non-bonus spend. Normally I’m not a fan of manufacturing spend, since it can take a ton of time and doesn’t seem worth the effort. In this case Plastiq makes it easy. Recurring payment options are available making it a one time setup.

Bottom Line

The Blue Business Plus is a game changer for non-bonus spend. This is the first time that a case can be made for charging normal expenses like a mortgages and car payments. Additionally, the Blue Business Plus is a no-annual fee card. At a minimum, you could just use it for non-bonus spend and utilize other cards for typical bonus categories. Will anyone else be using a Blue Business Plus for monthly payments?

This post contains referral links for Plastiq. Additionally, if you sign up using our link, we’ll both receive a discount on bill pay services.

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2 thoughts on “Blue Business Plus & Plastiq For Bill Payments?

  1. Great idea Ben! I’ve been hovering around the idea of using Plastiq on a more regular basis and I think you’ve nailed it!! I used Plastiq to complete the $15K spend on the Am Ex Biz Plat and found it very worthwhile, but haven’t been able to come up with another scheme to use it profitably.
    In March I took out a $14K, 10% signature loan to help my brother and his wife. They had 2 furniture loans at 19.5%, so I paid the loans off and they made payments on the signature loan at a lower interest rate. When I saw the loan term disclosures with the interest to be paid over the 4 yrs at $3000, I decided to “buy” the loan myself. It just so happened that American Express was touting the 100K offer for the Am Ex Biz Plat at that time. I applied for the Am Ex Biz Plat, registered with Plastiq and used them both to pay off the $14K signature loan to complete the vast majority of the spend in one transaction. I then applied for the Chase Slate with a free balance transfer and 0% interest for 15 months. My brother and sister-in-law are happy with their lower payments and interest savings and for my trouble I garnered $3K in interest payments and 100K Membership Rewards. I can’t apply for the Am Ex BB+ until after I apply for a home equity loan for a roof replacement, but I’ll start investigating my options with using Plastiq for our mortgage and auto payments and anxiously wait to hear more from you on the subject. Great thinking!

    1. Hi Donald,

      Yeah, the new Amex Business Blue is a game changer. If you rack up a lot of non-bonus spend, it’s a great tool! That’s a great idea moving to zero interest card, and helping out your family!

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