HighlightsCredit Card Feature
Things We LikeGet a 1.5% discount when you pay early, with no cap on what you can earn back
Our Least Favorite introductory annual fee of $0 for the first year, then $250
Our Verdict Great card for flexibility and discounts when you pay early

Rates & Fees Terms Apply

  • Our Rating:
  • 3.50/5
  • Your Rating:
Rate This Card

The Plum Card® from American Express OPEN is a rewards card from American Express, a GET.com advertiser, for established business owners. Plum Card is a charge card, yet allows you to pay your bills in a more flexible way. Each month, you have the option to get a 1.5% Early Pay Discount and/or defer your payment without interest (for 60 days). As an AmEx card, it also comes with many cardholder benefits.

Below I'll explain to you how the The Plum Card® from American Express OPEN works and tell you how we rate this business credit card so that you will have a better idea if this card is right for your business needs.

Credit CardFeaturesIntro APRRegular APRAnnual FeeWhy we like itWe least liket_cc_credit_requiredRelated links
The Plum Card<sup>®</sup> from American Express OPEN

The Plum Card® from American Express OPEN

APPLY NOWAt American Express' secure website
The Plum Card<sup>®</sup> from American Express OPEN
  • Our Rating:
  • Our Rating:
  • 3.50/5
  • Your Rating:
Rate This Card
  • No Foreign Transaction Fees.
  • Paying early pays off: Get a 1.5% discount when you pay early, with no cap on what you can earn back.
  • Take up to 60 days to pay with no interest, if you pay your minimum due.
  • Use the power of the Plum Card to buy big for your business.
  • Unlock new opportunities with a spending limit that can grow with your business.
  • Additional Employee Cards at no annual fee — and an early pay discount on employee spending.
  • No Foreign Transaction Fees.
  • Introductory annual fee of $0 for the first year, then $250
  • Terms & Restrictions Apply.
  • See Rates & Fees
Terms Apply
APPLY NOWAt American Express' secure website

N/A

N/A

Introductory annual fee of $0 for the first year, then $250

Why we like it
  • No Foreign Transaction Fees.
  • Paying early pays off: Get a 1.5% discount when you pay early, with no cap on what you can earn back.
  • Take up to 60 days to pay with no interest, if you pay your minimum due.
  • Additional Employee Cards at no annual fee - and an early pay discount on employee spending.
We least like
  • Annual fee after the first year.
Excellent Credit

Things We Like About The Plum Card® from American Express OPEN

Introductory annual fee of $0 for the first year, then $250 annually - You pay this membership fee after the introductory period.

Get a 1.5% discount on the portion of your eligible purchase balance that you pay within 10 days of your statement closing date. The catch is that you must pay at least your Minimum Payment Due. This 1.5% discount will be reflected as a credit on your billing statement the following month! How's that for being rewarded for paying your bills on time? So if you spend, for example, $5,000 monthly on eligible business purchases on your card and you pay it off in full within 10 days of your statement closing date, you will have an annual discount of $900 - not a small amount of savings! The more of your balance that you pay, the more you will save.

Take up to 60 days to pay with no interest. If you choose to pay at least 10% of the current month's spending and the entire amount of any previously deferred payment by your "Please Pay By Date" on your statement, then you are allowed to defer the other 90% till the following month. That means you can take up to 60 days to pay your balance in full. This feature allows for more flexibility when making payments, ensuring that you won't be charged with any penalties or interest when your cash flow is tight.

Choose when your monthly billing cycle ends. This will allow you to choose your preferred billing date, which could be at the beginning, middle or end of the month, to suit your business needs.

No pre-set spending limit. As a charge card, it doesn't have a pre-set spending limit. Your purchasing power will adjust with your use of the card, your payment history, credit record and other factors.

Travel accident insurance and premium roadside assistance. The roadside assistance offers you up to 4 service calls yearly which can help you if you have trouble or problems on the road. Coverage is applicable to the entire U.S., Canada, the Virgin Islands and Puerto Rico. Certain vehicles aren't covered, such as motorcycles, trucks and rental vehicles. Other important exclusions apply.

Car Rental Loss and Damage Insurance to ensure that your eligible rental car is covered in the case that it gets damaged or stolen when you pay with your Plum Card.

Purchase Protection and Extended Warranty on eligible purchases made with your card. Purchase Protection can protect eligible purchases made with your card against accidental damage and theft for up to 90 days from the date of purchase. The Extended Warranty extends the term of the original manufacturer's warranty up to one more year on eligible purchases with warranties of five years or less that are eligible in the U.S.

No Foreign Transaction Fees. This is a great benefit since you won't have to pay any foreign transaction fees when you make purchases in another currency using your card.

No annual fee for each additional employee card. This is a great benefit if you choose to get Plum cards for your employees.

Baggage Insurance Plan when you pay for your flights with your card.

Year-end summary. At the end of each year, to help you better organize your accounting, taxes and budgeting for the next year, you will receive an itemized report online or by mail if you wish so, of all your spending that current year, organized by month and spending category.

Our Least Favorite Things About The Plum Card® from American Express OPEN

$250 annual fee after the first year. You enjoy an introductory annual fee of $0 for the first year, thus allowing you to save $250. After that, you'll have to pay an annual fee of $250 - for the flexibility to defer payments or be rewarded for paying in full. The 1.5% discount you get for paying (within 10 days of the statement closing date) on the first $16,667 of eligible purchases you spend on your card will equal $250, which is your annual fee (1.5% of $16,667 = $250). A 1.5% discount on anything more than $16,667 will then be your real savings (assuming you pay that portion of the balance within 10 days of the statement closing date). So if you have an established business with a lot of business expenses, it makes sense to have this card in my opinion.

How Other Cards Compare With The Plum Card® from American Express OPEN

APPLY NOWAt American Express' secure website
No Foreign Transaction Fees.
Intro APR:N/A
Regular APR:N/A
Annual Fee:Introductory annual fee of $0 for the first year, then $250
Credit Required:Excellent Credit
APPLY NOWAt American Express' secure website
Earn 5,000 Membership Rewards® points after your first purchase on the Card
Intro APR:N/A
Regular APR:N/A
Annual Fee:$0 introductory annual fee for the first year, then $95
Credit Required:Excellent Credit
APPLY NOWAt American Express' secure website
Earn 10,000 Membership Rewards® points after you use your new Card to make $1,000 in purchases in your first 3 months.
Intro APR:0% for 12 months on purchases and balance transfers
Regular APR:13.99%-23.99% Variable
Annual Fee:$0
Credit Required:Excellent/Good

The Plum Card® from American Express OPEN is one of the only business payment cards which rewards you with discounts when you pay early, and also gives you more repayment flexibility than other charge cards.

The The Plum Card® from American Express OPEN is a good choice of card for established business owners who want an American Express charge card that gives you flexibility when it comes to making your monthly payments. Each month, you can choose to get a 1.5% Early Pay Discount, and also to defer your payments interest-free. If your business has a positive cash flow and has a strong credit history, you could consider applying for this card. As mentioned earlier, the $250 annual fee (after the first year) could be covered with the 1.5% discount if you have a lot of business expenses on the card each month (that you pay off a big portion of the balance within 10 days of the statement closing date). Terms and restrictions apply.

Considering all the American Express benefits this The Plum Card® from American Express OPEN has, it is in my opinion a good choice of card for established business owners who want an American Express card with flexibility and a discount option. Apply online and you will get a response within 60 seconds.

Click here to go to American Express official website to apply online for The Plum Card® from American Express OPEN now.