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.
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.
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?