The Plum Card® from American Express

card_name is not your typical small business credit card. In fact, it’s not a credit card at all but a charge card. This means that every purchase you make MUST be paid off within the grace period. If you pay within 10 days of your statement closing date, you’ll get a 1.5% early pay discount. If something comes up and you need a bit more time to pay, you can go up to 60 days without accruing interest. There are no preset spending limits, which means your spending limit is flexible and will vary according to your credit score, income, habits, etc. It doesn’t mean you can go out and charge a fleet of trucks. We dive into the details and your approval odds in this review.

Our Rating

3.8/5.0

Welcome Offer

Paying early pays off: get an unlimited 1.5% Early Pay Discount on eligible charges within 10 days of your statement closing date and see the discount applied to your next statement when you pay at the least the Minimum Payment Due by the Please Pay By date.

Annual Fee

$250‡

0% on Purchases

N/A

Reward Rate

0 – 1.5%

0% on Balance Transfers

N/A

Welcome Offer

N/A

Features & Benefits

SecurityEMV Chip Enabled, Alerts
Contactless PaymentsTap to Pay, Apple Pay, Google Pay, Samsung Pay
BenefitsExtended Warranty Coverage, Purchase Protection, Choose your due date, 24/7 customer service
Travel PerksAuto Rental Collision Damage Waiver, Emergency Travel Assistance

Rewards

1.5% cash back
All eligible purchases
Earn unlimited 1.5% cash back on eligible charges when you pay within 10 days of your statement closing date. There's no cap on how much you can earn and no purchase categories, just savings applied to your next statement.

Interest Rates & Fees

Annual Fee$250‡
Foreign Transaction FeeNone
Regular APRN/A (V) APR

Insurance

Extended Warranty

When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year.

  • Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. 
  • Please visit americanexpress.com/benefitsguide for more details. 
  • Underwritten by AMEX Assurance Company.

Return Protection

With Return Protection, you may return eligible purchases to American Express if the seller won’t take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card. Purchases must be made in the U.S. or its territories.

  • Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. 
  • Please visit americanexpress.com/benefitsguide for more details.

Purchase Protection

When an American Express® Card Member charges a Covered Purchase with their Eligible Card, Purchase Protection can help protect their Covered Purchases for up to 90 days from the Covered Purchase date if it is stolen or accidentally damaged. The coverage is limited up to $1,000 per occurrence, up to $50,000 per Card Member account per calendar year.

  • Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. 
  • Please visit americanexpress.com/benefitsguide for more details.
  • Underwritten by AMEX Assurance Company.

Pros & Cons

Pros
  • No foreign transaction fee
  • Up to 1.5% Early Pay Discount
Cons
  • Annual fee
  • No welcome bonus
  • Requires good credit

What Are the Best Alternatives?

The American Express Blue Business Cash™ Card
The American Express Blue Business Cash™ Card

Rating

4.6

Rewards Range

1% - 2%

Annual Fee

No annual fee

Ink Business Unlimited® Credit Card
Ink Business Unlimited® Credit Card

Rating

4.6

Rewards Range

1.5%

Annual Fee

$0

Capital One Spark Cash Select for Excellent Credit
Capital One Spark Cash Select for Excellent Credit

Rating

4.7

Rewards Range

1.5% - 5%

Annual Fee

$0

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