- 1 American Express Plum Credit Card
- 2 American Express Plum Credit Card review
- 2.1 Pros
- 2.2 Cons
- 2.3 Other Important Features
- 2.4 No bonus to sign up
- 2.5 Large annual fee second year
- 2.6 Suspicious awards
- 2.7 Great for business owners who need payment flexibility
- 2.8 Extra benefits for business owners
- 2.9 Why did you buy Plum Card from American Express?
- 2.10 How to use Plum Card from American Express
American Express Plum Credit Card
American Express Plum Credit Card is a flexible payment card that gives business owners the option to delay payment of up to 60 days or a cash-back bonus for early payment.
Get a 1.5% discount when you pay early
Balance Transfers APR Introduction N / A
Introduction to APR N / A
Regular APR N / A
The first annual $ 0 entry annual entry fee, then $ 250
- You pay for early payment: you get a 1.5% discount when you pay early, there is no limit to what you can recycle.
- If you pay the minimum amount, take up to 60 days to make an interest-free payment.
- Use the power of the Plum Card to buy great for your business.
- Uncover new opportunities with a spending limit that can grow with your business.
- Additional Employee Cards that are not subject to an annual fee – and early payment discount on employee spending.
- Foreign Transaction Fees None.
- Annual entry fee of $ 0 for the first year, then $ 250
- Apply Terms and Restrictions.
- Car Rental Insurance
- Extended Warranty Program
- Lost Baggage Refund
- Mobile Payment Ready
- Foreign Process Mortar No
- Presale Tickets
- Purchasing Protection
- Travel Accident Insurance
- Zero Fraud Responsibility
American Express Plum Credit Card review
Awards Rate 1.5% early payment discount
No Entry Bonus
Annual Fee $ 250, $ 0 first year
Average Annual Prize Value ($ 4,000 monthly spend) $ 553
APR Paid card (keep a balance of up to 60 days without interest)
- A monthly discount of 1.5% is applied to your statement automatically.
- Unlimited 1,5% discount
- There is no minimum threshold to receive a discount – any amount will be automatically credited to your statement (unless you make a minimum payment before the due date)
- No other payment options available – refund can only be used as an extract loan
- Points for travel are unavailable
- You must pay the invoice within 10 days from the closing date to get a 1.5% discount
Other Important Features
60 days without interest, no predetermined spending limit, choose your billing cycle, no foreign transaction fees, no fees for running cards, tools to help manage receipts, account alerts, save on appropriate business purchases, account manager, staff cards, mobile payment application, online business forum, luggage insurance, travel accident insurance, car rental insurance, purchase protection, premium roadside assistance, extended warranties set individual limits
Imagine you’re a business owner who needs variable spending and some flexibility in terms of when you pay your bill. However, you still want the potential to win prizes even if you cannot always take advantage. If this is explained to you, you may want to consider Plum Card from American Express.
This card may work as a cash reimbursement card in certain situations, although the awards you earn are quite limited. If you pay your bill early each month, you will receive a 1.5 percent discount on the amount you owe.
On the flip side, if you need some time, you can take up to 60 days to pay your bill without interest. However, if you select this option, you will not receive a discount.
No bonus to sign up
Plum Card from American Express does not offer a registration bonus; This is a big drawback if you hope to be rewarded just outside the door. The lack of a sign-up bonus also reduces the annual earning potential of this card, which is already questionable since the rewards are offered as a discount from your bill.
Large annual fee second year
American Express’s Plum Card will be charged for the first year of its annual fee, and you will have to pay $ 250 for the second year of your card. The fee may be worth $ 250 per year if you’ve earned an account credit or the flexible payment terms of the Plum card are often worth taking.
However, many consumers can be better served with a business card that is not subject to an annual fee. For example, the Capital One Spark Cash Select card is an annual annual fee card, which allows you to make a 1.5% refund on each purchase.
This card is not marketed as a prize card, but some may earn a 1.5 percent discount on the card, and some may consider it a 1.5 percent cash refund card.
Unfortunately, a 1.5 percent discount is applied automatically, so you can’t decide how to spend it. Because there is an instant discount, you cannot receive a large prize amount to use for a specific redemption. You must also close your bill within 10 days in order to benefit from this discount. If you forget to pay on time, you don’t have a chance.
Please also note that this card does not offer travel rewards. You cannot transfer points to airlines or hotel partners, and you cannot use points for certain travel purchases.
Great for business owners who need payment flexibility
When you delay your payment on the Plum card, it means that you have to give up the 1.5 percent discount on the card. The card’s 60 day window can be a great advantage for any business to pay your bill without interest. If you’re suffering from cash flow hassles and need time to deposit your money from time to time, this benefit can give you considerable interest.
Also, the Plum card also comes with a predetermined spending limit; this also gives you greater purchasing flexibility than usual for your business without running against a spending cover.
However, note that Plum Card from American Express is not a credit card – it is a payment card. This means that you cannot carry a balance other than the month in which you use the 60-day payment notice.
If you are a business owner who has to carry a balance for several months or years, you should get a credit card instead.
Extra benefits for business owners
Plum Card from American Express offers some interesting incentives for business owners who need help to manage and track their expenses. It includes a mobile application that allows you to run free running cards, identifying an account manager, spending tracking, integration with QuickBooks, account alerts, year-end summary, online phrases, and managing your account on the go.
Other cardholder rights include extra savings in eligible recruitment, external transaction fees, billing cycle selection, baggage insurance, travel accident insurance, car rental insurance, purchase protection, premium roadside assistance and extended warranties.
Why did you buy Plum Card from American Express?
- You are the owner of a business that sometimes needs the flexibility to delay payment on your card without accruing interest.
- You can pay your bill early and like a 1.5 percent discount on all your business purchases.
- You prefer a low-maintenance award card that provides an automatic discount on a travel rewards card.
- You need a fee card and you don’t want the ability to carry a balance in the long term
How to use Plum Card from American Express
- Charge all your business expenses and pay your bill early to get a 1.5% discount.
- Get free running cards and use your expense tracking tools to organize all your employee purchases.