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The Plum Card® from American Express

Credit needed
Good
APR
N/A
Annual Fee
$250

Card Summary

American Express' Plum Card is for small business.
The card is free for employees, has no spending limits, and you can take as much as 60 days to pay your monthly bills.
There's no interest if you make the minimum payment by due date. You can receive 1.5% back if you make your minimum payment within 10 days of the statement closing.
American Express' Plum Card has an annual fee of $250 (See Rates and Fees).

Review of American Express' Plum Card:

The card gives small businesses the flexibility to manage employees and pay their bills.
There is no rewards program and a $250 per year fee.

Card Summary - Cons

Rates and fees

Issuer Name
American Express
Penalty APR
N/A
Credit Needed
Good
Balance Transfer Fee
N/A
Annual Fee
$250
Cash Advance Fee
N/A
APR
N/A
Foreign Transaction Fee
None
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American Express

The Best Features

There is no spending cap: The American Express Plum Card does not have a spending cap. Your spending limits will be determined by your credit record and your payment history.

American Express Business App and employee cards: Business owners can keep control over their card spending using the Plum Card by American Express.

Individual cards can be set up with spending limits and individual cards can also be unfrozen or frozen.

All relevant information including scan receipts can be found in the American Express Business App.

Rewards

Sign up bonus

APR Requirements

Drawbacks

American Express' Plum Card does not have a reward program.
If you pay your bill in the 10 days following your statement's close, however, 1.5% can be claimed back.
An annual fee of $250 for the Plum Card by American Express.

Highlights

You can get 1.5% off your first pay check, and no limit on how much you can make back.
You can pay in 60 days with no interest if you pay the minimum amount by the Due Date.
The power of the Plum card can help you buy large for your company. No Foreign Transaction Fees.

Benefits

Comparative Analysis with Other Cards

American Express's Plum Card vs. American Express's Business Green Rewards Card

Annual Fee: American Express' Plum Card charges $250 annually, while the Business Green Rewards Card charges $0 for its first year. After that, it charges $95.

Reward Program: Although the American Express Plum Card does not have a rewards program you can still get 1.5% cashback on eligible balances if you pay your bill within 10 days. As long as your minimum payments are paid by due date, you will be eligible for this 1.5% cashback.

American Express' Business Green Rewards Card offers 2 points per $1 for eligible purchases on amextravel.com, and 1 point for any other purchases.

Sign-up bonus: American Express' Plum Card does not offer a Welcome Offer.

American Express Cardholders who open a new Business Green Rewards Card earn 15,000 Bonus Points after they make $3,000 eligible purchases in the first 3 months.

Benefits: Cardholders of the American Express Plum Card and Business Green Rewards Card have similar benefits. Each card provides access to insurance for car rentals, as well as the Global Assist Hotline.

American Express' Business Green Rewards Card also provides baggage insurance.

Capital One Spark Cash Select for Businesses vs. The Plum Card by American Express

Annual fee: An annual fee of $250 is charged for the Plum Card by American Express. The Capital One Spark Cash Select for Business Card does not have an annual charge.

Reward Program: Although the American Express Plum Card does not have a rewards program you will be eligible for 1.5% cashback if your account is paid within 10 days of closing your statement. Capital One Spark Cash Select for Business cards offer unlimited 1.5% cashback on all purchases.

Sign-up bonus: American Express' Plum Card does not offer a Welcome Offer. If you make $3,000 in purchases within the first three months of opening your account, you can earn $200 cash back.

Benefits: The Plum Card by American Express as well Capital One Spark Cash Select for Business provide free employee cards and car rental damage and loss coverage. There are also no foreign transaction fees. Cardholders of the American Express Plum Card have access to pre-sales for entertainment events.

How much is the American Express The Plum Card?

Annual Fee: $250.

International transactions are free of foreign transaction fees.

American Express: Should you get the The Plum Card?

If you want to give cards to employees, yes.

Payment flexibility would be a benefit. You aren't searching for rewards programs.

Redeeming Rewards

Maximizing Rewards

Annual Fees

Conclusion

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No late fees. Reduced interest charges. Pay off

American Express