The Plum Card from American Express Review

The Plum Card from American Express Review

The Plum Card by American Express is a unique business-owners charge card. It offers the unique benefit of allowing users to pay their bills within a 60-day window without incurring interest charges. This feature is especially beneficial for those who experience cash flow delays and need extra time to pay off their balance. Additionally, card members can earn an unlimited 1.5% discount on eligible charges when paying their bill early each month. However, it’s essential to remember that this is a charge card, which means the balance must be paid within the 60-day window or monthly. Traditional remarries are more suitable if your business tends to carry an aisle for multiple months. So, let’s explore the unique features and benefits of The Plum Card from American Express.

Quick Highlights

• Enjoy an unlimited 1.5% Early Pay Discount when you pay eligible charges within ten days of your statement closing date.
• See the discount applied to your following statement when you pay at least the Minimum Payment Due by the Please Pay By date.
• When you pay your minimum due by the payment due date, you can take advantage of up to 60 days to pay with no interest.
• Use the power of The Plum Card to make big purchases for your business.
• Say goodbye to foreign transaction fees.
• Terms and restrictions apply.

Benefits of the Plum Card from American Express

The Plum Card offers various benefits designed to make your business transactions more convenient and secure. From flexible billing cycles to extended warranties, here are some of the main advantages you can enjoy with The Plum Card:

• Choose You’re Billing Cycle: You can select the billing cycle that works best for your business needs, whether at the beginning or end of the month.
• No Preset Spending Limit: With no preset spending limit, you have more purchasing power that adjusts according to your usage and other factors.
• Amex Offers: Add Amex Offers directly to your eligible card through the American Express app and earn rewards for qualifying purchases made in stores and online.
• Dispute Resolution: If your statement contains fraudulent or incorrect charges, American Express will work with you to resolve the issue.
• Extended Warranty: You can shop with peace of mind knowing that your purchases are protected by an extended warranty of up to one additional year for five years or less warranties in the United States or its territories and possessions.
• Purchase Protection: With Purchase Protection, your covered purchases are protected for up to 90 days from purchase if stolen or accidentally damaged. Card Members can receive coverage up to $1,000 per occurrence and up to $50,000 per account per calendar year. Please refer to important exclusions and restrictions.
• No foreign transaction fees: As mentioned earlier, The Plum Card® from American Express does not charge foreign transaction fees. This is a valuable benefit for businesses that frequently purchase outside the United States.
• Car rental loss and damage insurance: Another valuable benefit of The Plum Card® from American Express is car rental loss and damage insurance. This can cover damages or theft of a rental vehicle in eligible territories when you use your card to pay for the rental and decline the CDW at the counter.
• Global Assist Hotline: When travelling, it’s always essential to have access to emergency assistance. The Plum Card® from American Express offers the Global Assist® Hotline, which can provide 24/7 coordination services for medical and legal referrals, emergency cash wires, and lost luggage assistance.

Rates and Fee

Intro offer: No current offer

Annual fee: $250

Regular APR: N/A

Recommended credit: 670-850 (Good to Excellent)

Intro Purchase APR: N/A

Intro Balance Transfers APR: N/A

Rewards

Get an unlimited 1.5% Early Pay Discount on eligible charges and see the discount applied to your following statement.

How to Redeem Rewards of the Plum Card from American Express

The Plum Card from American Express offers a different approach to rewards programs. Instead of points or miles, you earn unlimited 1.5% cash back on eligible charges you pay within ten days of your statement closing date. There’s no need to redeem anything – the discount will automatically be applied to your following statement. This simplifies your experience and ensures you get rewarded for paying early.

• Take Control of Your Finances with Pay with Points: With the Plum Card® from American Express, you can cover eligible charges with points. This allows you to take control of your finances and save money by using points instead of cash.
• Enhance Your Travel Plans: When you book your next flight, cruise, or prepaid hotel through AmexTravel.com, you can use your accumulated points towards the cost. This is a great way to enhance your travel plans and make them more affordable.
• Redeem Your Points Directly at Checkout: Shopping with participating brands has always been challenging, but Pay with Points makes shopping more rewarding. Redeem your points at checkout, and watch your total cost decrease. 

Earn more Membership Rewards points per dollar when you shop with your Card at famous brands.

EXPLORE FEATURED REDEMPTIONS

The Plum Card from American Express offers a variety of ways to redeem your rewards. Here are some options you can consider:

• Shop with More Options: When shopping at Amazon.com, you can easily apply points at checkout.
• Give Airbnb: You can also redeem your points for an Airbnb gift card, which can be used to book stays or Experiences.
• Go Further With Points: With Insider Fares, you can access reduced fares when using Pay with Points for the entire fare through American Express Travel.

Applying for the Plum Card from American Express: Eligibility and Approval Process

The Plum Card from American Express offers a cash-back rewards program that focuses on simplicity. Before applying, here’s what you need to know about eligibility and the approval process:

Eligibility Criteria

• Minimum Age: 18 years old
• Location: U.S. residency with a valid Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN)
• Credit History: A generally good credit score (ideally 700 or higher) is recommended for approval.
• Business Income: While a business credit card, Amex considers your income for approval.

Approval Process

American Express evaluates various factors beyond the primary criteria when making approval decisions. Some additional considerations may include:

• Annual Income: A healthy income level demonstrating your ability to manage the card.
• Existing Debt: A lower debt-to-income ratio can improve your approval chances.
• Credit Inquiries: Recent credit inquiries on your report could impact approval.
• Business History: A strong track record can be beneficial for your business.

How to Apply

• Online: Visit the American Express website and click “Apply Now” for the Plum Card®.
• Phone: Call American Express at (888) 781-6736 to speak with a representative.
• Mail Offer: Respond to a pre-approved mailer offer if you receive one.

Customer Service

Helpline Number: 1-800-528-2122

Official Website: American Express

Final Thoughts

The Plum Card from American Express caters to businesses seeking a straightforward cash-back reward system. Instead of points or miles, cardholders earn 1.5% cash back on eligible charges paid within ten days of the statement closing date. There’s no limit to the amount of cash back you can earn, and the discount is automatically applied to your following statement for convenient savings. However, the Plum Card® does come with a $250 annual fee and requires good credit for approval. Consider your spending habits and cash flow to determine if the early payment discount outweighs the yearly fee.

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