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The Plum Card from American Express Review

*Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Aug 13, 2018, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

Who the card is best for

The Plum Card® from American Express is a good option for business owners who travel abroad (or whose employees travel abroad) and want to be rewarded for paying their bills early. Get a 1.5% discount when you pay early, with no cap on what you can earn back. This is a great feature that makes up for the lack of a rewards program.

There is no intro APR period for this card, so if you want to carry a balance, you are better off with other cards that offer intro APR periods like The Blue Business℠ Plus Credit Card from American Express. Also, there is a $0 introductory annual fee your first year, then $250. Small businesses may not find enough value in this card to warrant the fee.

  • Receive 1.5% discount for paying early*

  • Take up to 60 days to pay with no interest*

  • No foreign transaction fees & no fee for extra employee cards*

Highlights
  • Paying early pays off: Get a 1.5% discount when you pay early, with no cap on what you can earn back.
  • Take up to 60 days to pay with no interest, if you pay your minimum due.
  • Use the power of the Plum Card to buy big for your business.
  • Unlock new opportunities with a spending limit that can grow with your business.
  • Additional Employee Cards at no annual fee - and an early pay discount on employee spending.
  • No Foreign Transaction Fees.
  • Introductory annual fee of $0 for the first year, then $250
  • Terms & Restrictions Apply.
  • See Rates & Fees

See additional details for The Plum Card® from American Express

More Info

Where this card stands out in its category

While many business cards have a foreign transaction fee, this card has none. This allows you to use your card outside the U.S. without incurring the 2-5% fee some other cards charge per purchase. The Plum Card® from American Express also has a long list of additional card benefits that will appeal to a variety of business card users, like baggage insurance and premium roadside assistance.

Where this card falls short in its category

There is no rewards program for this card, by conventional standards; instead there is an Early Pay Discount: Get a 1.5% discount when you pay early, with no cap on what you can earn back. So, businesses that don’t pay their balance within 10 days of their statement closing date won’t see any discount. Most business cards in our database offer a rewards or cash back program, so you can check those cards out if you want to earn rewards on purchases and not a discount on timely payments.

Additional card benefits

The Plum Card® from American Express offers numerous additional card benefits:

  • Account Manager: Add an employee or business partner as an Account Manager so they can handle reviewing statements, making payments and other tasks.*
  • Spend Manager: You can conveniently use your phone or computer to add receipts and notes to transactions, allowing you to manage your card with ease.*
  • Connect to QuickBooks®: To simplify transactions, link your QuickBooks® and card account for easy labeling and transferring of purchases.
  • 24/7 Customer service: Call the number on the back of your card to speak to customer service representatives with knowledge of small businesses. They can assist with resolving fraudulent charges, specific questions about your card and more.*
  • Baggage insurance plan: Don’t worry if your luggage is lost, damaged or stolen: You may be covered for the cost when you pay for your ticket with your card. For full Terms and Conditions, see americanexpress.com/BIPterms.*
  • Travel accident insurance: Accidental death and dismemberment can be covered up to $100,000 for eligible travel fares including plane, train, ship or bus. For full terms and conditions, see americanexpress.com/TAIterms.*
  • Global Assist® hotline: Traveling over 100 miles from your business’ location can qualify you for select referrals for medical, legal and financial services. You’re responsible for the costs charged by third-party service providers.*
  • Premium roadside assistance: You have access to the following services at no additional cost up to four times per calendar year when you are present with the eligible vehicle: towing up to 10 miles, winching, jump starts, flat tire change when you have a workable spare, lockout service when key is in vehicle and delivery of up to two gallons of fuel. For full terms and conditions, call see americanexpress.com/RAterms.*
  • Car rental loss and damage insurance: When you pay for a car rental with your card, you may be covered for theft or damage. For full terms and conditions, see americanexpress.com/CRLDIterms.*
  • OPEN Forum®: You can read articles, access tools and advice, participate in a forum with other businesses and industry experts all with the goal to improve your business.*
  • OPEN Savings®: Each eligible dollar you spend at OPEN Savings merchants earns either a 5% discount or two additional Membership Rewards® points. For full terms and conditions, go to opensavings.com.*
  • Entertainment Access®: Get access to exclusive events and presales for concerts, sporting events, Broadways shows and more. Available in select cities.*

*Terms Apply.

How to use it most effectively

To gain the most value from The Plum Card® from American Express, be sure to pay your statement within 10 days of closing date. This ensures you can take advantage of the Early Pay Discount: get a 1.5% discount when you pay early, with no cap on what you can earn back. Also, when traveling abroad, this is a good card to use because the foreign transaction fee is none.

Rewards breakdown

The Plum Card® from American Express doesn’t have a conventional rewards program that earns points, miles or cash back on purchases, like other cards do, but you can get a 1.5% discount when you pay early, with no cap on what you can earn back. This applies to the portion of your eligible charges balance that you pay within 10 days of your statement closing date. Terms Apply.

Compare it with The Blue Business℠ Plus Credit Card from American Express

The Plum Card® from American Express and The Blue Business℠ Plus Credit Card from American Express offer different features that benefit certain businesses. If your business travels abroad you can see more value with The Plum Card® from American Express because the foreign transaction fee is none.

  • 0% for 12 Months, then 15.49% - 21.49% Variable

  • Earn 2X points on everyday business purchases up to the annual cap

  • Enjoy the flexibility to put more purchases on the Card

Highlights
  • Get rewarded for business as usual. Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners.
  • 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
  • Enjoy the flexibility to put more purchases on the Card and earn rewards when you buy above your credit limit*.
  • You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
  • More buying power for your business means more opportunities to earn points. That’s everyday business with the Blue Business Plus Card.
  • *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors.
  • 0.0% intro APR on purchases and balance transfers for 12 months, then a variable rate, 15.49%, 18.49% or 21.49%, based on your creditworthiness and other factors as determined at the time of account opening.
  • See Rates & Fees

See additional details for The Blue Business℠ Plus Credit Card from American Express

More Info

However, if your business wants to earn rewards, The Blue Business℠ Plus Credit Card from American Express offers 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter. While The Plum Card® from American Express offers only the Early Pay Discount: Get a 1.5% discount when you pay early, with no cap on what you can earn back. Depending on your business’ spending habits, you may prefer rewards over an Early Pay Discount if you don’t typically pay your statement within 10 days of its closing date.

Looking at annual fees, The Plum Card® from American Express has $0 introductory annual fee your first year, then $250. If your business doesn’t want to pay that, The Blue Business℠ Plus Credit Card from American Express has a $0 annual fee. Here’s a breakdown of the key features of each card:

The Plum Card® from American Express The Blue Business℠ Plus Credit Card from American Express
Annual Fee $0 introductory annual fee your first year, then $250. $0
Purchase Intro Rate N/A 0% for 12 Months
Balance Transfer Intro Rate N/A 0% for 12 Months
Balance Transfer Fee N/A Either $5 or 3% of the amount of each transfer, whichever is greater.
Regular Purchase APR N/A 15.49% - 21.49% Variable
Rewards Get a 1.5% discount when you pay early, with no cap on what you can earn back. 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
Foreign Transaction Fee None 2.7% of each transaction after conversion to US dollars.

Bottom line

The Plum Card® from American Express is a good option for business owners who would prefer an Early Pay Discount than earning rewards on their business spending and who can afford the $0 introductory annual fee your first year, then $250. As with many American Express cards, you enjoy a great selection of perks that can make business processes and travel easier.


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