Our Take
2.1
The bottom line:
The Plum Card® from American Express
on American Express' website
More details from American Express
- Paying early pays off: earn an unlimited 1.5% Early Pay Discount on eligible charges paid within 10 days of your statement closing date and see the discount applied to your next statement when you pay at the least the Minimum Payment Due by the Payment Due Date.
- Take up to 60 days to pay with no interest‡, when you pay your minimum due by the Payment Due Date.
- No Foreign Transaction Fees.‡
- Terms Apply. Learn More.
View Rates & Fees
Pros & Cons
Pros
- No foreign transaction fees
- No reward caps
Cons
- Has annual fee
- No bonus offer
- Complicated rewards
Compare to Other Cards
at American Express | at Chase | at American Express |
Annual fee $250 | Annual fee $95 | Annual fee $0 |
Regular APR N/A | Regular APR 20.49%-26.49% Variable APR | Regular APR 17.74%-25.74% Variable APR |
Intro APR N/A | Intro APR N/A | Intro APR 0% intro APR on purchases for 12 months from the date of account opening |
Recommended credit score 690-850good - excellent | Recommended credit score 690-850good - excellent | Recommended credit score 690-850good - excellent |
Full Review
The Plum Card® from American Express: Basics
Benefits of The Plum Card® from American Express
Flexible capital
Flexible payment options
- Amounts paid within 10 days of your statement closing date earn a 1.5% discount on the amount paid. The discount appears as a credit on your next statement. So if you paid $10,000 early enough to qualify, you'd get a $150 credit the next month. Note that the date that matters here is your closing date, not the due date. The closing date is when the billing period ends and your statement is prepared; it's a few weeks before the due date.
- Amounts paid more than 10 days after your closing date but before your due date will not earn a discount.
- Anything not paid by the due date will be carried forward to the next statement without interest. This can give you as much as 60 days to pay for a purchase without interest. This compares with the roughly 25-day grace period offered by typical business credit cards.
🤓 Nerdy Tip
You'll break even on this card's annual fee if you receive the 1.5% discount on $16,667 worth of spending a year. Put another way, if each month you pay $1,389 early enough to qualify for the 1.5% discount, you'll make up for the fee.American Express Business
- Stay on top of your expenses with ReceiptMatch with Quickbooks.
- Shop at an online bonus mall designed for business owners where you can get a 5% discount or bonus Membership Rewards points with purchases from partners like Hertz, FedEx, Hyatt, Hewlett-Packard and more.
- Get advice and share ideas with other small business owners in the forum.
No foreign transaction fees
The Plum Card® from American Express: Pitfalls and other possibilities
You can't carry a balance
Benefits are conditional
The annual fee is high
The Plum Card® from American Express: Is it right for you?
on American Express' website
Frequently Asked Questions
New elevated offer