Monday, February 23rd, 2015, 1:25 pm
Update 2, 02/23: The new Evolve rules charging a 3% fee go into effect tomorrow. For the time being Evolve is still allowing payments from credit cards as I posted in the 02/20 update without any fees! We’ll see how well they implement that 3% fee tomorrow..
Update, 02/20: As pointed out in the comments, apparently Evolve is getting ready for next week and is processing many credit cards without a fee. I entered Chase business cards, Citi cards, and Barclay cards as debit cards and they all allowed bill payments with no fees. Chase consumer cards came up as being subject to a 3% fee. The new rules take effect next week, so take advantage today if you want to pay some bills with your credit card.
Originally posted on 02/19:
Evolve Money burst onto the scene last year, offering the ability to pay bills for free via debit and gift cards. The widely known secret at the time (at least for anyone who does a little research on sites like DDF) was that they accepted credit cards as well.
Throughout last year the program had numerous downgrades. As soon as some blogs publicized the credit card aspect of the program they shut down the ability to pay bills for free with most cards (though some cards remained viable for a little while longer). At that point it was still possible to make unlimited payments with gift cards that could be bought at stores that offered 5 points per dollar. Then they started limiting payments to 4 per bill per month. And then they went down to just 1 payment per bill per month.
Starting next week they’ll be adding a 3% fee for payments made via gift cards, effectively killing the value proposition. Payments made with debit cards from “smaller banks” will also have a 3% fee, likely killing funding from debit cards that still earn miles. For now 1 debit card payment per month per bill from larger banks or from cash load packs remains free. So be on the lookout for where you can buy Reloadit packs with your credit card.
One thing is certain, I don’t think my Gap or Banana card will be sending me any more 5 figure refund checks anytime soon 😉