Are you a business owner looking for a charge card with the flexibility to pay your balance on your schedule but with no interest or penalties? The Plum Card® from American Express OPEN is a unique charge card with no pre-set spending limit that gives you payment flexibility each month by allowing you to either pay in full and be rewarded or to defer your payments interest-free. When you use your card, you can earn a 1.5% discount on eligible purchases when you pay your balance in full within 10 days of the statement closing date; this discount will appear as a credit on your next statement. However, you can also choose to take two months to pay your full balance without interest when you pay 10% of your balance by the “Please Pay By” date on your statement and the other 90% by the closing date of your next billing cycle. In addition, enjoy other unique benefits like choosing when your billing cycle ends (at the beginning, middle, or end of the month to best suit your business needs) for even more cash flow flexibility. Don’t forget, with the Plum Card, you also enjoy all of the American Express OPEN cardmembership perks such as car rental loss and damage insurance, roadside assistance, travel insurance, and a plethora of automatic online saving discounts with participating partners.
Key Features:
- Limited Time Offer: Get a 2% Discount consisting of a 1.5% Early Pay Discount plus, for the first 6 months, get an extra 0.5% on all purchases, up to $250,000.
- Do business on your terms
- Pay no annual membership fee for your first year. Then, pay $250 annually.
- No annual fee for Additional Cards.
- Terms & Restrictions Apply.
If your business has a revenue of at least 6 figures annually and are needing a charge card with a flexible and rewarding payment plan, the Plum Card® from American Express OPEN is definitely a good option. Apply today!
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Warning about the Plum card for your Readers:
I just got the Plum Card and was made aware of something that the Customer Service Rep wasn’t aware of until I pressed the issue and he had to find out the answer from a supervisor:
The 1.5% is strictly applied to payments within the first 10 ten days after the monthly cycle closes. The caveat there is that payments made during the monthly cycle do not get the discount reward. That’s an important distinction that will not necessarily be clear to anyone reading about the card and I think you should know that. I now realize that if I pay “too early”, the discount doesn’t apply. I was very disappointed. AMEX charge cards may not have a preset limit but they do have limits based on spending patterns. If I have $5000 available and use that in the first week of the monthly cycle on unforeseen expenses with several auto-debits still to come, I need to pay down the balance quickly within a few days and thus NOT get the discount on that payment. The discount only applies to the ENDING BALANCE. Now, if you have a stratospheric limit on the card, it won’t matter. But for many small business owners juggling expenses and spending limits while trying to get maximum rewards, this can and will be a nuisance. Applicant beware.
Be aware that Amex will do a periodic review and reduce your line from unlimited to some other number. Then at random will do it again (even if there is no financial reason it should go lower). This can be embarrassing when your card suddenly gets declined because they pared your limit by 2/3rd.