Let’s say you pay $2,000 each month for rent, and you decide to put two rent payments toward the $5,000 spending requirement to earn two extra qualifying nights. Considering Plastiq’s 2.9% fee, you’ll be paying an extra $116 over those two months.
Whether that fee is worth it to you is dependent on how you value those extra qualifying elite nights. If you’re a Hyatt loyalist and you stay with the chain at least a few times each year, those extra fees can definitely be worth it if it means gaining higher elite status.
However, if those two extra qualifying nights won’t put you anywhere within reach of the next Hyatt status tier, or if you don’t frequently stay at Hyatt properties, the extra fee isn’t worth it.
: The best hotel credit cards
Bottom line
Paying an extra fee to earn additional points or miles or to gain additional benefits may or may not be worth it. It all comes down to the number of points or miles earned, extra benefits you may receive and the value you get out of all of that.
Before you go ahead and pay for transaction fees on every credit card swipe you make, do the math on a course of action. Make sure that you’re getting more value than the surcharges you’re paying or ensure you’re making tangible progress toward unlocking a higher-value goal on your cards.
: Credit card economics: A look at the fees that you rarely see