“The trick with my Tesla purchase is the card I used, [the] Chase Ink Business Preferred, earned 3X points for the purchase,” Rosso tells CNBC Make It. Ink Business Preferred cardholders receive 3 points on every dollar spent in a range of categories designed to benefit small-businesses owners. Those categories include travel, shipping, advertising and internet, phone and cable services.
Purchasing the car through Plastiq qualified for that 3-point reward rate, although Rosso notes that there’s no guarantee that will always be the case. The Ink Business Preferred may one day only reward Plastiq purchases with 1 point per dollar.
The 2.5 percent fee came out to about $1,470, while the purchase earned him nearly 180,000 Chase Ultimate Rewards points. At minimum that’s $1,800 in value, but it could be worth even more when redeemed for travel. If Rosso transfers the points to the right hotel or airline rewards programs, he estimates that they’ll be worth as much as $5,000.
In short, the rewards easily make up for Plastiq’s fee.