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The Plum Card® from American Express Review
Updated: November 8, 2024
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The Plum Card® from American Express
On Issuer's Site
Rewards Summary
N/AEarn an unlimited 1.5% Early Pay Discount on eligible charges paid 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 Payment Due Date.
APR
N/AAnnual Fee
$250‡Recommended Credit
670-850 (Good to Excellent)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
The Plum Card® from American Express is a financial game-changer, especially for business owners and frequent international travelers. It's designed for maximum cash flow flexibility, rewarding you for early payments and offering an extended grace period when you need it. Plus, the absence of foreign transaction fees and free employee cards make it an excellent tool for simplifying your finances. It's more than just a credit card — it's a financial partner that adapts to your needs.
The Plum Card® from American Express Overview
When choosing credit cards, it's crucial to carefully evaluate their features, as they can offer a mix of advantages and drawbacks tailored to different financial needs and lifestyles.
- Rewards rate: Earn a 1.5% Early Pay Discount on eligible charges paid within 10 days of your statement closing date. The discount is applied to your next statement when you pay at least the Minimum Payment Due by the Payment Due Date.
- Welcome offer: None
- Regular APR: N/A See rates and fees
- Annual fee: $250 See rates and fees
- Intro APR offer: None
- Terms Apply
- See Rates and Fees
Important Card Details
Navigating the world of credit cards means weighing short-term gains against long-term benefits, and The Plum Card® from American Express presents an intriguing case for examination. Our in-depth analysis delves into its unique features, assessing the advantages and potential drawbacks to provide a balanced perspective on its utility, particularly for business owners.
0% Interest
An exciting feature of the Plum Card® is the up to 60 days no interest you get to settle your bill. You'll have a generous grace period to clear your dues without incurring interest, giving you more financial flexibility. However, remember that this benefit hinges on you meeting the minimum payment requirement by the due date.
Discount
The 1.5% early pay discount on qualifying purchases is another star feature of this card. It incentivizes timely payments, rewarding you for clearing your dues early. The "unlimited" discount has no cap, potentially saving you a considerable amount over time. These savings are conveniently reflected in your next billing statement. This feature promises and delivers instant gratification, encouraging a cycle of responsible credit card usage.
Fees
While the Plum Card® does come with an array of perks, it has a considerable annual fee of $250. This fee might be a drawback for potential users who do not spend a significant amount monthly. Hence, to fully benefit from this card, you must ensure that your yearly savings from the early pay discount and other perks outweigh the annual fee. See rates and fees
Other Perks
One cannot overlook the additional perks, including no foreign transaction fees and complimentary employee cards. If you're a frequent traveler, the absence of foreign transaction fees can translate into substantial savings. Meanwhile, the no-fee employee cards can be a boon for small business owners looking to streamline company expenses and monitor the spending habits of their employees, all without incurring extra charges.
How The Plum Card® From American Express Compares
In the quest to find the perfect credit card, a side-by-side comparison of key features can offer valuable insights into how each card aligns with your unique financial goals and lifestyle.
How This Card Compares
The Plum Card® from American Express
- Rewards rate: Earn an unlimited 1.5% Early Pay Discount on eligible charges paid 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 Payment Due Date.
- Welcome offer: None
- Regular APR: N/A See Rates and Fees
- Annual fee: $250 See Rates and Fees
- Intro APR offer: None
- Terms Apply
- See Rates and Fees
- Best for: Business owners seeking payment flexibility and efficient cash flow management.
Ink Business Unlimited® Credit Card
- Rewards rate: Earn unlimited 1.5% cash back on every purchase made for your business
- Welcome offer: Earn $750 bonus cash back after you spend $6,000 on purchases in the first three months from account opening
- Regular APR: 17.99% - 23.99% Variable
- Annual fee: $0
- Intro APR offer: 0% introductory APR on new purchases for 12 months (after that, the ongoing variable rate is 18.49% to 24.49%)
- Best for: Business owners looking for a cost-effective card that offers a welcome bonus, ongoing rewards and an introductory APR offer.
For rates and fees of The Plum Card® from American Express, please click here.
About Grace Pilling
Grace Pilling was the Senior Content Manager for Credit Cards at MoneyGeek. She previously led personal finance teams at Bankrate, CreditCards.com and MoneyUnder30.
Pilling has a bachelor's degree in English from Western Sydney University and a diploma in book editing, proofreading and publishing. She is focused on empowering readers to make informed financial choices that support their best lives, not a company’s bottom line.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.