The Plum Card® from American Express
- Annual fee
- $250
- Recommended credit
- Excellent
- Card network
- American Express
At a glance
Business owners searching for a business credit card with flexible payment options will find the Plum Card® from American Express as useful as it is unique. Offering cash back, flexible spending capacity and a 60-day grace period to pay off monthly balances, the Amex Plum Card is a credit option that’s perfect for accommodating new business owners, entrepreneurs, and freelancers with irregular income.
Our review of the The Plum Card® from American Express
If you’re a business owner in need of a credit card that offers flexibility and savings, look no further than The Plum Card® from American Express. This $250 annual fee charge card provides early payment discounts for your business spending, making it a valuable asset for small businesses, startups, and the self-employed.
Who Can Benefit Most from the Plum Card?
The Plum Card® from American Express is specifically tailored to support the cash flow needs of small businesses, startups, and self-employed individuals. With its unique features and flexibility, the Plum Card can help your business thrive by offering rewards, potential savings, and the ability to choose when to pay your bill.
How to Get the Card
To be eligible for The Plum Card®, you must be a small business owner or self-employed individual with a good credit history and strong credit score. Additionally, you will need to provide specific business and financial information when applying for the card, such as your business tax identification number, proof of ownership, and revenue documentation.
Plum Card® Benefits
The Plum Card® stands out from other business credit cards with its flexibility, early payment discounts, and lack of preset spending limits. Cardholders can enjoy up to 60 days to pay their bill, potentially saving money with a 1.5% discount on early payments. Additionally, the card offers complimentary employee cards, QuickBooks integration, account manager services, account alerts, and Vendor Pay by Bill.com for streamlined bill payments.
Tips for Maximizing Value with The Plum Card®
To make the most of your Plum Card experience, consider utilizing the early payment discount, understanding eligible purchases for cash back rewards, and leveraging expense management tools provided by American Express. These tips can help you maximize your rewards and gain insights into your spending habits.
What We Like About the Card
Payment flexibility and early pay discounts are key benefits of The Plum Card®, allowing cardholders to manage their finances effectively and save money on eligible charges. However, it’s important to consider the limitations of the card, such as the requirement to pay in full each month and the eligibility criteria based on credit history.
Should You Apply for the Plum Card®?
While The Plum Card® offers unique benefits and features, it may not be the best fit for every business. Consider your specific needs and financial situation before applying for the card, as there are other credit card options available that may better suit your requirements. Be sure to explore all available card offers to find the one that aligns with your business goals and preferences.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- Paying early pays off: get a 1.5% Early Pay Discount on your statement on the amount paid within 10 days of your statement closing date and no cap on what you can earn back. Just pay the Minimum Due by the Payment Due Date
- Up to 60 days to pay with no interest
- Choose whether to receive your bill at the beginning, middle, or end of the month
- Annual fee waived the first year
- No preset spending limit
- Employee Plum Cards for no additional fee
Who this card may suit
- You own or operate a business
- You want the option to earn cash back
- You have irregular cash flows and don’t want to be penalized for it
- You don’t want to pay an annual fee for employee cards
Rates, fees and terms
| Annual Fee | $250 |
|---|---|
| Late Payment Penalty Fee | $39 or 1.5% of the past due amount, whichever is greater |
| Return Payment Penalty Fee | $39 |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Excellent Credit.
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