I love credit cards so much!

[thevalley]

I have loan services llc

 

[wendow]

i think we should start building a list of mortgage companies and what was used to get around the restrictions...

This is an excellent idea for a DISchurners post. I'd rather not have the info here on this board, if we can help it.

 

[wendow]

I have pennymac loan services llc

That is not going to go through like that. You have to get creative with the way you address the payment. I feel like someone else had Pennymac so it'd be interesting to see if there is already a working solution. When do you need to send it out by?

 

[Albort]

This is an excellent idea for a DISchurners post. I'd rather not have the info here on this board, if we can help it.

PM me, ill make the list in our existing Plastiq thread.

 

[Lain]

need help, if I change the business category on plastiq to other and write in mortgage as the specified category, is that alright? usually It was rent/ real estate.

Your problem isn't the "category."

If you're trying to pay a mortgage, Visa and Amex have restricted Plastiq from processing mortgage payments on their networks. Plastiq has essentially blacklisted all the major mortgage companies, banks, credit unions, servicers, etc. from being a "Recipient" of any payment. Some of smaller credit unions, loan providers, and mortgage companies that don't have anything about "mortgage" in their names still get through. But if your loan is with a big bank, it's probably blocked. It won't matter if you try to recharacterize the category. The only way around this block is if you create a "new" Recipient that isn't already in Plastiq's system and not on their blacklist. You'll want to address your payment in such a way that it slips through the system, but is accurate enough that it'll get to your intended payee and your mortgagor can correctly apply the payment to your account.

What's the company, and what's their payment address? Maybe we can help.

 

[Lain]

I have loan services llc

Got an address?

 

[wendow]

PM me, ill make the list in our existing Plastiq thread.

I don't mind gathering all the info but I only know the work around for my mortgage. I vaguely remember what others are using but maybe everyone could pm me (or you) what their successful work-arounds are and we can get a list together.

 

[Albort]

I don't mind gathering all the info but I only know the work around for my mortgage. I vaguely remember what others are using but maybe everyone could pm me (or you) what their successful work-arounds are and we can get a list together.

im curious if i can play around with it even if i dont have a mortgage... or do u have to hit submit to find out...

 

[wendow]

im curious if i can play around with it even if i dont have a mortgage... or do u have to hit submit to find out...

Nope, don't have to submit. It'll error on you before hitting submit if it won't go through.

ETA: Although, someone's came back after looking like it would go through...maybe @disneymagicgirl...so that must not be 100%. Mine always tells me if it will work or not.

ETA2: Another thought I have had is waiting until the night before it needs to go out the next day to set up the payment. I was able to get a mortgage payment to Amex this way. Not sure if that short of time helped it get through the system faster or not??

 

[Calfan]

Is there a list of grocery stores that you can buy these VGC's at with a credit card?

Buying VGCs with a credit card is the easy part. Most stores allow it. Those that don’t or have limits will usually have signs up or tell you at the register, then it’s just a wasted trip. The post office is definitely cash or debit only. The hard part is finding a way to liquidate the VGCs in the form of a MO. And setting up an account at a bank you don’t care about to deposit those MOs. Because you definitely don’t want to deposit large volumes of MOs at Chase.

I’m almost positive all of the Albertsons banners (which include Safeway, Vons, Randall’s, Tom Thumb, Acme, Shaw’s, Star Market, Pavilions, Carrs, United Supermarkets, Haggen, Jewel-Osco) sell VGCs, and I’m not aware of any limits or caps. Look for the gift card end cap.

 

[1GoldenSun]

What is a VGC?I'm assuming the GC is for gift card, but I can't figure out what the V stands for?

 

[wendow]

What is a VGC?I'm assuming the GC is for gift card, but I can't figure out what the V stands for?

VGC - Visa Gift Card

Some people buy these with their credit card they are trying to meet spend on, and then use those to purchase money order's they can then deposit into their bank account.

 

[Calfan]

What is a VGC?I'm assuming the GC is for gift card, but I can't figure out what the V stands for?

Visa

 

[1GoldenSun]

VGC - Visa Gift Card

Visa

Oh, duh...of course!

So why do you buy them and what do you do with them once you have them?

 

[1GoldenSun]

Some people buy these with their credit card they are trying to meet spend on, and then use those to purchase money order's they can then deposit into their bank account.

Oh I didn't see this before.

 

[1GoldenSun]

I thought you weren't supposed to buy gift cards to meet minimum spend.

 

[calypso726]

I thought you weren't supposed to buy gift cards to meet minimum spend.

There are cards that you can get away with doing this when you mix it up with organic spend. Most will purchase for Manufactured Spending.

 

[Albort]

Oh, duh...of course!

So why do you buy them and what do you do with them once you have them?

its a circle. use CC to buy visa gift card --> take gift card, buy a Money order with it --> take Money order and deposit into bank --> Take money and pay off your credit card. repeat.
u generate points continuously at a cost of 1% of your value. we called this MS... aka Manufacture spendings. Its not looked upon the bank too well though. if they catch u, bye bye credit cards.
Its also highly YMMV. Some stores may stop you from buying a Money Order with a visa gift card... you may run into some trouble... I had the manager called on me once. was quite an experience. lol.

 

[speedyfishy]

I thought you weren't supposed to buy gift cards to meet minimum spend.

It’s against the terms to get points for cash equivalents, but they don’t know what we are buying.... yet... some stores are providing detail to Amex on what has been purchased, but so far it’s been working for me

 

[wendow]

I thought you weren't supposed to buy gift cards to meet minimum spend.

I don't buy money orders or anything like that. It scares me too much! I use plastiq more and more to meet my spends but that does come with a fee. Feels a lot 'safer' to me though and I don't have the time to run store to store trying to find places that will let me buy MO's with a VGC.

The GC's you just need to be careful which stores you buy them from and making sure to add items to your purchase so the total does not look like you bought a VGC. This is really only an issue with Amex cards.