The Plum Card® from American Express is best for business owners needing a flexible spending limit that adjusts with usage, payment history, credit record, and financial resources. You can either earn unlimited 1.5% cash back when you pay within 10 days of your statement closing date or choose to carry your balance for up to 60 days without interest. However, it does not allow balance transfers and cash advance transactions and charges a high annual fee of $250.
The Plum Card® from American Express
BEST FOR:
Accessing early pay discounts or 60 days of no interest
- Paying early pays off: 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.
- Take up to 60 days to pay with no interest†, when you pay your minimum due by the Payment Due Date.
- No Foreign Transaction Fees.†
- Terms Apply. Learn More.
Pros
- No preset spending limit
- Doesn‘t charge foreign transaction fees
- Offers early pay discount
Cons
- Balance is due either monthly or every 60 days
- No 0% introductory APR on purchases and balance transfers
- Cash advance & balance transfers aren’t allowed
- Car rental loss and damage insurance: You can be covered for damage to or theft of a rented vehicle in a covered territory when using this card to pay for the entire rental. You have to decline the collision damage waiver offered by the rental company.
- Extended warranty: Terms of the original manufacturer’s warranty can be extended up to one additional year.
- Purchase protection: Protect eligible purchases for up to 90 days from the covered purchase date if they are stolen or accidentally damaged. The coverage is limited to up to $1,000 per occurrence, and up to $50,000 per card member, per calendar year.
- Global Assist® hotline: Available for 24/7 emergency assistance and coordination service―including medical and legal referrals, emergency cash wires, and missing luggage assistance.
(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.)
- Paying early pays off: 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.
- Take up to 60 days to pay with no interest†, when you pay your minimum due by the Payment Due Date.
- No Foreign Transaction Fees.†
- Terms Apply. Learn More.
Pros
- No preset spending limit
- Doesn‘t charge foreign transaction fees
- Offers early pay discount
Cons
- Balance is due either monthly or every 60 days
- No 0% introductory APR on purchases and balance transfers
- Cash advance & balance transfers aren’t allowed
- Car rental loss and damage insurance: You can be covered for damage to or theft of a rented vehicle in a covered territory when using this card to pay for the entire rental. You have to decline the collision damage waiver offered by the rental company.
- Extended warranty: Terms of the original manufacturer’s warranty can be extended up to one additional year.
- Purchase protection: Protect eligible purchases for up to 90 days from the covered purchase date if they are stolen or accidentally damaged. The coverage is limited to up to $1,000 per occurrence, and up to $50,000 per card member, per calendar year.
- Global Assist® hotline: Available for 24/7 emergency assistance and coordination service―including medical and legal referrals, emergency cash wires, and missing luggage assistance.
(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.)
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When grading cash back business credit cards like The Plum Card® from American Express, we give the most weight to ongoing rewards. We also rate the introductory rewards, the annual fee, introductory and ongoing Annual Percentage Rates (APRs), and additional card benefits.
| Grading Criteria | ||
|---|---|---|
Ongoing Rewards | ||
Introductory Rewards | ||
Additional Features | ||
Annual Fee | 5 | |
Introductory APR | ||
Ongoing APR | ||
| Total Score |
Who the Plum Card® From American Express Is Best For
- Those who need payment flexibility or don’t want to carry a balance for over 60 days: The Plum Card® From American Express offers either pay-early discounts of 1.5% with no cap or 60 days to pay your balance with no interest.
- Those who need a card with no preset spending limit: It has no preset spending limit—meaning your purchasing power adjusts with card usage, payment history, credit record, financial resources, and other factors.
The Plum Card® From American Express Rewards
Paying early pays off with this card, as you will receive unlimited 1.5% cash back on the portion of the balance you pay within 10 days of your statement closing date, regardless of spending categories. Note that there’s no cap on how much you can earn and no purchase categories to consider.
The Plum Card® From American Express Rewards Calculator
Find out how much you can earn when you pay your balance early with The Plum Card® From American Express using our calculator below. Enter how much you can approximately pay monthly within 10 days of your statement closing date, and our calculator will compute your estimated annual rewards. Note that only the portion of the balance paid early will earn cash back. If you don’t pay early, no cash back will be credited to your account.
How to Redeem The Plum Card® From American Express Rewards
Cash back earned from paying your balance early will be applied to your next statement. Keep in mind that there’s no maximum limit on how much you can earn and you don’t need to keep track of purchase categories.
The Plum Card® From American Express Features
Insurance Protection
(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.)
- Car rental loss and damage insurance: Get covered for damage to or theft of a rented vehicle in a covered territory when using this card to pay for the entire rental. To be eligible, you have to decline the collision damage waiver offered by the rental company.
- Extended warranty: Extend the warranty of your eligible purchases for up to one additional year. This applies to warranties of five years or less.
- Purchase protection: Protect eligible purchases for up to 90 days from the covered purchase date if they are stolen or accidentally damaged. The coverage is limited to up to $1,000 per occurrence, and up to $50,000 per card member, per calendar year.
- Global Assist® Hotline: Access 24/7 emergency assistance and coordination services—including medical and legal referrals, emergency cash wires, and missing luggage assistance—when you travel over 100 miles from home.
- Dispute resolution: Receive assistance from American Express whenever there’s a fraudulent or incorrect charge found on your statement.
Account Management
- Extra days to pay: Defer payment of the remaining New Balance until the Payment Due Date of the next billing statement without incurring interest if you pay at least the Minimum Payment Due.
- Employee cards: Get employee cards with no additional annual fee.
- Year-end summary: Manage accounts and organize expenses efficiently with year-end summary reports, which are given at the start of the year.
- Connect to QuickBooks®: Automatically categorize your expenses to Intuit QuickBooks and organize your accounting efficiently.
- Vendor Pay by BILL: Pay your vendors and manage your cash flow effectively with Vendor Pay by BILL Basic Plan, which is free for the first user. Take advantage of a six-month free trial for the second user, then pay $15 per month after the trial period.
- Preferred billing cycle: Choose the date that is the most convenient for you to receive your bill each month.
The Plum Card® From American Express Fees
APR
- Introductory: None
- Ongoing: None; balance is due in full each month—unless you opt into 60-day free financing terms
Fees
- Annual: $250
- Balance transfer: Balance transfers aren’t allowed
- Foreign transaction: None
- Cash advance: Cash advances aren’t allowed
- Late payment: Either $39 or 1.5% of the past due amount, whichever is greater—if you don’t pay for two consecutive billing periods, you’ll be charged $39 or 2.99% of the past due amount, whichever is greater
- Returned payment: $39
- Online or mobile banking: You can pay via the Amex website or mobile app.
- Phone: Call (800) 472-9297, state your card information when prompted, and then follow the prompts.
- AutoPay: Log in to your online account and click “Payments” in the blue navigation bar, then choose “Manage AutoPay.”
- Wire transfer: Include your card member name, your American Express account number, and the following information when paying via this option:
- Bank name: Chase Manhattan Bank
- Account name: American Express Card Member Wire Depository
- Address: 1 Chase Plaza New York, NY 10081
- ABA number (routing number): 0210-0002-1
- Account number: 910-2-753036
- Mail: You can send your credit card bills via courier or express delivery mail to the address below. Ensure to include your account number on the front of your payment for easy reference.
First Class Mail
American Express
PO Box 96001
Los Angeles, CA 90096-8000
The Plum Card® From American Express Alternatives
U.S. Bank Triple Cash Rewards Visa® Business Card
U.S. Bank Triple Cash Rewards Visa® Business Card
BEST FOR:
Those wanting to earn up to 5% cash back on selected spending categories
- Earn $500 in cash back. Just spend $4,500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas and EV charging stations (transactions of $200 or less)*, office supply stores, cell phone service providers and restaurants (*excludes discount stores/supercenters and wholesale clubs).
- 1% cash back on all other eligible purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center when using your card.
- Take control of your card spend with U.S. Bank Spend Management—a game-changing platform for monitoring and managing business expenses.
- No limit on total cash back earned.
- Redeem Cash Rewards right away or save them for later. Cash Rewards do not expire as long as the account remains active.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or QuickBooks.
- Terms and conditions apply.
Pros
- 0% purchase APR for 12 months
- $0 annual fee
- U.S. Bank ExtendPay® Plan feature
Cons
- No 0% APR on balance transfers
- Charges balance transfer and foreign transaction fees
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- U.S. Bank ExtendPay® Plan: Pay off your eligible balance over time with this feature without interest—just pay a small monthly fee
- Earn $500 in cash back. Just spend $4,500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas and EV charging stations (transactions of $200 or less)*, office supply stores, cell phone service providers and restaurants (*excludes discount stores/supercenters and wholesale clubs).
- 1% cash back on all other eligible purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center when using your card.
- Take control of your card spend with U.S. Bank Spend Management—a game-changing platform for monitoring and managing business expenses.
- No limit on total cash back earned.
- Redeem Cash Rewards right away or save them for later. Cash Rewards do not expire as long as the account remains active.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or QuickBooks.
- Terms and conditions apply.
Pros
- 0% purchase APR for 12 months
- $0 annual fee
- U.S. Bank ExtendPay® Plan feature
Cons
- No 0% APR on balance transfers
- Charges balance transfer and foreign transaction fees
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- U.S. Bank ExtendPay® Plan: Pay off your eligible balance over time with this feature without interest—just pay a small monthly fee
If you prioritize saving credit costs, then we recommend the U.S. Bank Triple Cash Rewards Visa® Business Card. It offers a 0% introductory offer on purchases for the first 12 billing cycles and enjoys a $0 annual fee. You can also earn up to 5% cash back on selected spending categories.
American Express Blue Business Cash™ Card
The American Express Blue Business Cash™ Card
BEST FOR:
Those who want better cash back rewards
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.49% – 27.49%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
- No Annual Fee
- Terms Apply
Pros
- 0% introductory annual percentage rate (APR)
- Welcome offer
- Fixed rate rewards
- $0 annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter. (Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. 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. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.)
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.49% – 27.49%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
- No Annual Fee
- Terms Apply
Pros
- 0% introductory annual percentage rate (APR)
- Welcome offer
- Fixed rate rewards
- $0 annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter. (Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. 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. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.)
Consider the American Express Blue Business Cash™ Card if you intend to spend beyond your credit limit. This card offers Expanded Buying Power, which is an adjustable credit limit based on your credit usage and other factors. It also lets you enjoy a $0 annual fee and earn 2% cash back on the first $50,000 in eligible purchases.
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BEST FOR:
Businesses that want simple yet generous cash back
- Earn $4,000+ in bonuses: $2K when you spend $30K in the first 3 months and $2K for every $500K spent in the first year.
- Get 2% cash back on all business-related purchases without limits or category restrictions.
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
Pros
- With welcome offer
- Offers unlimited 2% cash back on all purchases
Cons
- Charges annual fee
- Requires excellent credit to qualify
- Payment flexibility: Pick your preferred monthly due date to control when to pay your credit card bill.
- $0 fraud liability: You can get an emergency replacement and cash advance if your card is lost or stolen.
- Extended warranty: Get free additional warranty and protection on selected items purchased with your card
- Roadside assistance: Capital One offers services to help you during auto-related emergencies, such as jump-starting, tire changing, and towing).
- Free employee cards and spend limits: Track employee spending while earning all rewards from their purchases and set customized spending limits for each card.
- Earn $4,000+ in bonuses: $2K when you spend $30K in the first 3 months and $2K for every $500K spent in the first year.
- Get 2% cash back on all business-related purchases without limits or category restrictions.
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
Pros
- With welcome offer
- Offers unlimited 2% cash back on all purchases
Cons
- Charges annual fee
- Requires excellent credit to qualify
- Payment flexibility: Pick your preferred monthly due date to control when to pay your credit card bill.
- $0 fraud liability: You can get an emergency replacement and cash advance if your card is lost or stolen.
- Extended warranty: Get free additional warranty and protection on selected items purchased with your card
- Roadside assistance: Capital One offers services to help you during auto-related emergencies, such as jump-starting, tire changing, and towing).
- Free employee cards and spend limits: Track employee spending while earning all rewards from their purchases and set customized spending limits for each card.
If you are looking for an alternative card with a lower annual fee, we suggest the card_name. Whether you pay your balances on time or not, you can still earn up to 5% cash back on selected spending categories. This card also lets you pick your preferred monthly due date, letting you control when to pay your credit card bill.
Frequently Asked Questions (FAQs)
A charge card is a type of credit card that requires you to pay off your full balance each month. Charge cards do not have a preset spending limit—this means your credit limit is flexible and can be adjusted based on several factors, including your card usage, payment history, credit score, and other financial factors. Unlike regular credit cards, charge cards do not come with APRs because you are typically not allowed to carry your balance to the next billing cycle. If you don’t pay your entire balance, you’ll be charged with penalties.
While The Plum Card® From American Express provides a unique feature that is not typically available with other business cards—it lets you carry a balance for up to 60 days without interest. If you do not choose this option, it awards you with an early pay discount in the form of a 1.5% cash back on the portion of the balance that you pay within 10 days of your statement closing date.
You can click the “Apply Now” button toward the top of this article. According to the site, you can get a decision in as little as 30 seconds. Alternatively, you can call (888) 519-6736 to apply for the card.
Yes, you can make a credit limit increase request for The Plum Card® From American Express. Simply go to the “Manage Accounts” tab, click “Payment and Credit Options” and select “Change Credit Limit”.
Bottom Line
The Plum Card® from American Express is best for business owners who want a card that offers payment flexibility, no preset spending limit, and the option to earn rewards or a 60-day term with no interest. If you pay your balance within 10 days of your statement closing date, you can earn unlimited 1.5% cash back on the portion of the balance that you paid. It should be noted, however, that it charges a high annual fee of $250 and it does not allow balance transfer and cash advance transactions.
