Making the Most of the American Express Plum Card

This card's best feature is its payment flexibility: 1.5% discount for paying early, or up to 60 days without interest. But it comes with a big annual fee.
Making the Most of the American Express Plum Card

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Written by Claire Tsosie
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Edited by Paul Soucy
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The plainer the plastic, the harder it is to maximize. This is particularly true of The Plum Card® from American Express. If you’re looking for a business card with a long 60-day grace period, this is your best — and, well, only — option. But it immediately presents three major obstacles to those trying to squeeze more value out of it:

  1. It has a big annual fee — $250 (see rates and fees).

  2. There isn't a welcome offer.

  3. It doesn't offer rewards, though it does have an early-pay discount.

The Plum Card® from American Express doesn't make it easy to come out ahead in savings every year, but you can still make it work for you. Here's how.

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Pay early

The Plum Card® from American Express
NerdWallet rating 

“Early is on time, on time is late, and late is unacceptable,” goes a famous saying that could apply to accounts payable. If you have The Plum Card® from American Express, living by these words could save you hundreds of dollars a year. That’s because the card gives you a 1.5% discount on whatever portion of your balance you pay down within 10 days of your statement closing date — that is, right after you get the bill. You won't receive a discount on the portion paid after that time.

You can maximize your savings by making early payments your new normal. Unlike other cards, this one gives you up to 60 days to pay without interest, but take advantage of that feature only if you really need it.

Use your card for big orders

During a busy season, a low credit limit is the bane of a business owner’s existence. Filling large purchase orders might mean bumping up against that maximum, and depending on the card, it could hurt your business credit and personal credit.

With The Plum Card® from American Express, you don’t have to worry about this. The card has no preset spending limit (although that doesn't mean you have unlimited spending power). As a result, FICO scores won’t use your balance on The Plum Card® from American Express to calculate your credit utilization ratio, or the percentage of available credit you’re using. As long as you stay current with your payments and manage your other cards carefully, your credit won't take a hit when you spend heavily on this card.

Travel abroad with your card

If you’re going on an international business trip, The Plum Card® from American Express is a good card to keep in your wallet. Like all the best travel cards, it doesn’t charge a foreign transaction fee. Its flat-rate discount can also help you save more overseas than you might with a tiered rewards card.

Just remember that not every merchant overseas accepts American Express.The Plum Card® from American Express can still be your No. 1 card abroad, but make sure you have a backup method of payment.

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NerdWallet rating 

5.0

/5
NerdWallet rating 

4.8

/5
NerdWallet rating 

4.4

/5

Annual fee 

$0

Annual fee 

$0

Annual fee 

$0

Regular APR 

18.49%-24.49% Variable APR

Regular APR 

18.49%-24.49% Variable APR

Regular APR 

17.99%-25.99% Variable APR

Rates & Fees

Intro APR 

0% intro APR on Purchases for 12 months

Intro APR 

0% intro APR on Purchases for 12 months

Intro APR 

0% intro APR on purchases for 12 months from the date of account opening

Recommended credit score 

690-850
(Good - Excellent)

Recommended credit score 

690-850
(Good - Excellent)

Recommended credit score 

690-850
(Good - Excellent)

How the early-pay discount works

The early-pay discounts on The Plum Card® from American Express are automatically added to your statement in the following billing cycle. To earn them, all you have to do is pay within 10 days of your statement closing date. You’ll get an unlimited 1.5% discount on the portion you paid before that time. To see how much of a discount you earned from the previous billing cycle, read your statement or log on to your account.


To view rates and fees of The Plum Card® from American Express, see this page.
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