Get Paid for Paying Early with The Plum Card® from American Express

By Kris Majaski. Last updated 4 June 2020. 0 comments

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The Plum Card® from American Express is a unique business charge card that offers flexibility and options for the small business owner that isn't offered by other cards on the market. You can earn a 1.5% discount on your purchases when you pay early, or get up to 60 days to pay off your balance with no interest. 

How This Card Works

This card is a charge card which means there’s no preset spending limit and your balance usually must be paid in full each month. However, unlike other charge cards, this card includes the option to pay at least the minimum payment (10% of the balance from new activity plus any previously deferred balance) by the payment due date, to defer payment of the remainder of the balance until the new payment due date. This gives you up to 60 days from your statement date to pay your balance, which isn’t an option you get with most other business credit cards. (See also: Should You Get a Business Card or a Consumer Card?)

You also earn a 1.5% Early Pay Discount on the portion of your balance that you pay within 10 days of receiving your bill. You do have to pay at least your minimum payment by your payment due date, but there is no cap on what you can earn back. (See also: Best Credit Cards for Small Businesses)

Terms apply.

Other Benefits

Spend ManagerSM. This card includes Spend ManagerSM which allows you to keep track of your expenses by allowing you to add receipts and notes to your transactions, either via desktop or your mobile device.


    $250 Annual Fee ($0 introductory annual fee your first year)


    No rewards program. Although you can earn a 1.5% discount on the portion of the balance you pay within 10 days of receiving your bill, there is no rewards program or additional bonuses for purchases. Other business credit cards may offer bonus rewards for office supply, telecommunications, travel, or even advertisement purchases. (See also: Best Credit Cards for Office Supplies)

    Charge card limitations. For some business owners, it can be difficult having to pay the entire balance in full each month, even with the special feature this card offers extending it to 60 days. If you rather have the option to carry your balance from month to month for a longer term, you should choose a standard business credit card instead.

    Annual fee. After the first year, the annual fee to carry this card can get expensive, especially considering how light it is on the rewards and business benefits. If you aren’t able to pay your balance early each month for the 1.5% discount, you could find this card costly. 

    Who This Card Is Best For

    Although it doesn’t come with some of the features you get with other business cards, this card could still be worth carrying if you can pay your balance in full and pay at least your minimum monthly payment within 10 days of your statement closing date. However, if you need to have the option carry a balance from month to month or prefer a more significant rewards program and lower annual fee, you should consider one of the many other business credit cards that are available.

    Terms apply.

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