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The Plum Card from American Express — Full Review [2023]

Name: The Plum Card from American Express — Full Review [2023]
Item: The Plum Card from American Express
Rating: 3.5
Author: Alex Miller

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"Paying early pays off!"

Instead of normal cash-back, get a 1.5% discount when you pay early, with no cap on what you can earn. Take up to 60 days to pay with no interest if you pay your minimum amount due.

Learn More (at Amex's secure site)

Alex Miller

- Updated: May 21, 2023, 11:02pm CDT

Cash flow can be unpredictable. Sometimes you can pay bills right away, and other times it may be easier to wait. Either way works out in your favor with The Plum Card® from American Express!

With this card, you can pay your bill early and get a 1.5% discount, with no cap on total earnings. Or, if it works out better that month, you can pay later; take up to 60 days to pay interest-free.

For those who run seasonal businesses or whose incoming cash flow is unpredictable, the card can provide you with payment alternatives that most other cards don’t.

Amex Plum Card — Snapshot

Welcome Bonus & Info (Partner Content)
- 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.
- Take up to 60 days to pay with no interest, when you pay your minimum due by the Payment Due Date.
- Use the power of the Plum Card to buy big for your business.
- No Foreign Transaction Fees.
- Terms & Restrictions Apply.
Card Categories:
- Credit Card Reviews
- Best Business Credit Cards
Rewards Center
There is no special rewards center for this card; the cash-back earned will be applied directly to your balance on your next month's statement.
Customer Service Number
1-800-519-6736
Login Link
https://www.americanexpress.com
Related Articles
- Best American Express Business Credit Cards
- How To Apply & Qualify for a Small Business Credit Card

Great Card If

You are a business owner – especially if your cash flow is unpredictable
You want flexibility of payment options
You make large business purchases

Don't Get If

You are not a business owner
You are looking for a way to get a cash advance
You want to transfer over a balance from another card
You want a business card without an annual fee

Amex Plum Card — Card Fees

Annual Fee
- $250
Foreign Transaction Fees
None
Late fees
- 1.5% then 2.99% of the past due amount (minimum: $39).
Additional Info
Rates & Fees

The Ideal Cardholder

Welcome Bonus and How to Really Benefit From Using the Card

After opening the Amex Plum card, you may be able to earn any welcome bonus listed in the card summary table above, if applicable.

When you initially open your card, you have the option of choosing to receive your bill at the beginning, middle, or end of the month.

This can allow you to receive your bill when your cash flow may be highest and you’re in the best position to pay. Then, each month, you have the option to pay early or pay later – but either way, you benefit.

If you choose to pay early, you’ll get a 1.5% discount. Or, you can allow yourself some extra time (up to 60 days) and not have to worry about interest racking up.

With no pre-set spending limit, you can make the purchases that your business needs, without incurring big interest charges right away.

You know your business best – that’s why you get to decide when to pay each month.

Plus, if you have employees, you can add additional employee cards at no annual fee (rates & fees).Bottom Line: The Amex Plum card gives you choices, and the ability to get cash back when you pay early.

Additional Perks of Card Membership

As you make big purchases for your business, it’s always good to have the peace of mind in knowing that those items are protected.

With the purchase protection benefit that is automatically included with card membership, eligible purchases made with the card can be protected against accidental damage or theft for up to 90 days.

You may also shop with less worry due to the included extended warranty. Eligible items can have their original manufacturer’s warranty extended for up to 1 additional year.

With no pre-set spending limit on the card, you can essentially have purchasing power that adjusts with the use of your card, along with other factors.

It also provides you with some additional perks that can be handy for business (or personal) travelers, such as:

Baggage insurance
Travel accident insurance
Car rental loss and damage insurance
Global assist hotline
Premium roadside assistance

Bottom Line: Get Purchase Protection and a host of other benefits with the Amex Plum card.These perks offer more than just a way to purchase items and services for your business; they also provide you peace of mind.

Even More Benefits Through American Express

In addition, just like other Amex Business cards, the Amex Plum card also automatically includes additional benefits for helping you manage and control your spending, such as:

ReceiptMatch
Account Manager
Account alerts
Online statements

You can also view and manage your account from virtually anywhere using the mobile and tablet apps. This can make it easier to manage your account whenever it is convenient for you.

Notice something that doesn’t look quite right? If there happens to be an incorrect or a fraudulent charge on your statement, American Express will work with you to help in resolving the issue.

Bottom Line: The Amex Plum card can help you to grow and run your company more efficiently.

Best Way to Maximize Rewards

The Amex Plum card provides you with options – which is something business owners generally love. So, how can you make the most of those options?

First, you need to have a good understanding of what they are.

If you run a seasonal business or a company with fluctuating cash flow, then the Amex business card can provide you a good option for making purchases that don’t need to be paid back right away.

Taking advantage of your rewards is easy. You control when you make your payments, as well as your choice of benefits: either a payment discount, or a longer billing cycle.

Your rewards essentially begin when you initially open your card. That’s when you can decide when your statement will arrive: at the beginning, middle, or end of the month. Whatever is the most convenient for you!

Then, when your billing statement arrives, you decide whether you want to pay early and save, or if you want to hold off on making your payment for up to 60 days with no interest. You have the option, and you have the control!

Some rewards can also be earned right away: spend the required amount in the allotted time to take advantage of any welcome bonus, if applicable.

Best Way to Redeem Rewards

Most business owners know that the key to success is having a good, solid plan. The same holds true for getting the most out of the Amex Plum card.

Sticking with the following tips can help you to earn the most:

Tip #1: Plan out your big purchases so you can take advantage of paying early and getting a 1.5% discount.

Tip #2: Alternatively, plan out purchases to take advantage of waiting up to 60 interest-free days before your payment is due.

Tip #3: Take advantage of any welcome bonus credit, if offered, that can be earned, which is applied as statement credit.

Tip #4: Add additional employee cards so others in your company may make purchases. There is no annual fee for employee cards.

American Express works in conjunction with a variety of airline, retail, travel, and car rental agency partners. Additional information can be found by visiting the American Express Rewards Center.

As an American Express Business card, this one also has several partners available: FedEx, Hertz, HP, and 1-800-Flowers.

Alternatives to the Amex Plum Card

Is this the right business credit card for your company? Perhaps. But know there are other options as well.

One great alternative is the Ink Business Preferred® Credit Card, which has a $95 annual fee, typically comes with a great introductory bonus, and earns points in Chase Ultimate Rewards.

With this card, you’ll earn 3 points per $1 on the first $150,000 spent in select categories each account anniversary year. Then, earn an unlimited 1 point per $1 on all other purchases.

These Ultimate Rewards points can be redeemed for travel or used directly in the Chase Travel Portal.

Another business card that might be of interest to you is The American Express® Business Gold Card.

You will earn 4x points on 2 select categories where you business spent the most each month. 1x is earned for other purchases.

Finally, the American Express Blue Business Cash™ Card is an Amex business credit card with no annual fee that earns cash-back on a variety of different categories (see rates and fees).

Here, you’ll earn 5% cash-back at U.S. office supply stores and on wireless telephone services purchased from U.S. providers, plus 3% cash-back on the category of your choice from a list of 8, which includes airfare, hotels, U.S. advertising, U.S. shipping, and more!

You’ll also earn 1% cash-back on all other purchases!

Bottom Line: There are some alternative cards that may or may not be more appealing to you than the Amex Plum card. Always be sure to shop around and find out what’s best for you!

Card Comparison Articles

Amex Business Gold Card vs Amex Plum

For rates and fees of The Plum Card® from American Express, click here.

Featured Image Credit: American Express

Frequently asked questions

Is the Amex Plum card worth it?

With highly flexible payment options, the card can be well worth it — especially for business owners who have sporadic or unpredictable cash flow and want control over when they pay their bill.

Is the Amex Plum card hard to get?

Just as with most other cards, you will likely need good or even excellent credit to obtain this card. The best way to really know if you will be approved is to apply for the card and see.

What are the primary benefits of the Amex Plum card?

The primary benefit of this card is its flexibility in terms of when you pay your bill. For those who pay their bill early, there can also be financial rewards.

Paying early can result in a 1.5% early pay discount, with no cap on what you can get back. Alternatively, if you opt to pay late, you can wait up to 60 days with no interest.

Is there an annual fee for the Amex Plum card?

The annual fee is $250 per year.

What does the no pre-set spending limit refer to?

The Amex Plum card allows members to buy big. With the no pre-set spending limit, the card provides you purchasing power that can adjust with your use of the card, as well as other factors.

Note that "no pre-set spending limit" does not mean unlimited spending. The purchasing power will adjust with your use of the card, payment history, credit record, and financial resources that are known to American Express.

What are the best small business cash-back credit cards?

The best cash-back credit cards for small business are subjective to whatever you are looking for specifically, but a few cards stand out more than other.

About Alex Miller

Alex has been traveling for over 25 years and from a young age was lucky enough to set out on numerous family trips all over the world, which gave him the travel bug. Alex has since earned tens of millions of travel points and miles, mainly through maximizing every opportunity to earn the most points possible on each dollar spent.

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