Plum Card from American Express OPEN - Is it Right for Your Business?

back Plum Card from American Express OPEN

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intro purchase APR n/a	regular APRn/a
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rewards 1.5% cash back

good credit required

Terms and Conditions

Editors Review

Let's take a look at the unconventional business credit card from American Express

Pros

• 1.5% flat rate cash back in the form of a discount if you pay off your balance within 10 days of your statement date
• no predetermined spending limit
• deferred payment option for 60 days if you pay at least a minimum payment on time`

Cons

• a charge card, not a credit
• $250 annual fee (waived for the first year)
• though the spending limit is not predetermined, it is not unlimited, but rather defined by your spending activity

Verdict

An interesting charge card with a handy option to defer payments for 60 days and 1.5% cash back. The biggest downside is a $250 annual fee starting from the second year, making the card a break even only if you spend more than $1,400 on a card every month.