Editor’s note: This is a recurring post with regularly updated card details.
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 lacks a 0% introductory annual percentage rate (APR) and charges a high annual fee of $250.
If you wish to compare one card over another, select a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
The Plum Card® from American Express
BEST FOR:
Accessing early pay discounts or 60 days of no interest
Intro APR
N/A
Regular APR
N/A
Annual Fee
$250‡
Credit Needed
Good, Excellent
- 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.
- Take up to 60 days to pay with no interest‡, when you pay your minimum due by the Payment Due Date.
- Use the power of the Plum Card to buy big for your business.
- No Foreign Transaction Fees.‡
- Terms & Restrictions Apply.
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.
Intro APR
N/A
Regular APR
N/A
Annual Fee
$250‡
Credit Needed
Good, Excellent
- 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.
- Take up to 60 days to pay with no interest‡, when you pay your minimum due by the Payment Due Date.
- Use the power of the Plum Card to buy big for your business.
- No Foreign Transaction Fees.‡
- Terms & Restrictions Apply.
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.
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, 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
- Business owners who need payment flexibility or don’t want to carry a balance for over 60 days: The Plum Card® From American Express is a charge card that offers either pay-early discounts of 1.5% with no cap or 60 days to pay your balance with no interest.
- Business owners 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.
If this isn’t the card for you, head over to our recommended alternatives below, or visit our guides to the best small business credit cards and leading American Express business credit cards for more options.
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
Travel & Purchase Insurance
- 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.
Expense Management
- 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.
The Plum Card® From American Express Fees
APR
- Introductory APR: None
- Ongoing APR: None; balance is due in full each month—unless you opt into 60-day free financing terms
Fees
- Annual fee: $250
- Balance transfer fee: Balance transfers aren’t allowed
- Foreign transaction fee: None
- Cash advance fee: Cash advances aren’t allowed
- Late payment fee: 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 fee: $39
How To Make Payments
- Online: Pay through your American Express online account anytime by choosing your payment account and selecting your bank account and payment date. Note that credit and debit cards are not accepted as a form of payment.
- Amex Mobile App: Simply download the Amex Mobile App, available for both iOS and Android devices, and enjoy the convenience of paying your bills on the go, anytime.
- Direct bank payment: Pay bills automatically, so you don’t have to worry about missing due dates. Provide your bank account details to American Express and indicate the amount you’d like to pay each month.
- AutoPay: Set up an AutoPay through your American Express online account. Note that your first AutoPay payment may not be applied to your current billing cycle, so you will have to make your usual payments until your AutoPay begins.
- Mail: Mail your payment either by check or money order made payable to American Express. Include your account number at the front of your payment.
First Class Mail
American Express
PO Box 96001
Los Angeles, CA 90096 – 8000
Express Mail
American Express
Attn: Express Mail Remittance Processing
20500 Belshaw Ave.
Carson, CA 90746
The Plum Card® From American Express Alternatives
U.S. Bank Triple Cash Rewards World Elite Mastercard®
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
BEST FOR:
0% APR for 15 billing cycles
Intro APR
Regular APR
19.24% - 28.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 19.24% - 28.24%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- 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.
Intro APR
Regular APR
19.24% - 28.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 19.24% - 28.24%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- 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.
When To Consider U.S. Bank Triple Cash Rewards World Elite Mastercard®
- You need a 0% introductory APR: While The Plum Card® From American Express doesn’t offer interest-free financing unless you opt for a 60-day term instead of earning rewards, the U.S. Bank Triple Cash Rewards World Elite Mastercard® comes with a 15-month long 0% APR period for both balance transfer and purchase transactions. On top of this, you get to earn rewards on your purchases at the same time.
- You need to transfer a balance: Since balance transfers are not allowed with The Plum Card® From American Express, you cannot consolidate your debt from other credit cards. If you’re planning to transfer your card balance, you’ll save on credit cost with U.S. Bank Triple Cash Rewards World Elite Mastercard® 0% introductory APR for the first 15 billing cycles.
- You have recurring software expenses: You’ll receive a $100 annual statement credit for recurring software subscription.
Other Benefits
- Offers up to 5% cash back, depending on spending categories—rewards have no limit or expiry
- Lets you earn a $500 cash bonus when you meet the spending requirements
- Features ExtendPay Plan, which lets you divide your eligible balance into equal monthly installments with no interest, just a small fixed monthly fee
It is our leading business credit card with no annual fee and one of our top 0% APR business credit cards due to its long zero-interest financing period and generous rewards. For other options from U.S. Bank, visit our roundup of best U.S. Bank business credit cards.
American Express Blue Business CashTM
The American Express Blue Business Cash™ Card
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
18.49% - 26.49% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- 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, 18.49% - 26.49%, 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.
- Just remember, 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.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- 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.
Intro APR
0% on purchases
Regular APR
18.49% - 26.49% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- 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, 18.49% - 26.49%, 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.
- Just remember, 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.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- 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.
When To Consider American Express Blue Business CashTM
- You need credit flexibility and ongoing rewards: If you want to earn ongoing rewards on all your purchases and have a flexible credit limit, the American Express Blue Business CashTM is your best bet. You’ll receive 2% cash back on the first $50,000 purchases in a year, then 1% cash back after the cap is met. Plus, it features expanded buying power that lets you spend beyond your credit limit based on your card usage, payment behavior, credit history, and financial resources.
- You carry a balance from time to time: It’s not a charge card, so you can carry your balance to the next billing cycle, subject to APR.
Other Benefits
- Charges $0 annual fee
- Lets you earn $200 statement credit when you meet the spending requirements
- Comes with 0% APR on purchases for 12 months from the date of account opening
It is our top-ranking cash back business credit card and one of the best business credit cards for the self-employed because of its rewards simplicity, flexibility, and other valuable features. Head over to our roundup for the most outstanding American Express business credit cards for other options from this issuer.
Capital One® Spark® Cash Plus
Capital One® Spark® Miles for Business
BEST FOR:
Unlimited 2x miles with every swipe
Intro APR
N/A
Regular APR
26.24% variable
Annual Fee
$0 intro for first year; $95 after that
Credit Needed
Excellent
- Earn a one-time bonus of 50,000 miles once you spend $4,500 on purchases within the first 3 months of account opening.
- Unlimited 2x miles on every purchase, with no blackouts or seat restrictions and no minimum miles to redeem
- 5x miles on hotels and rental cars booked through Capital One Travel
- Issue employee cards for free
Pros
- With sign-up bonus
- Offers fixed-rate miles rewards on all purchases
- Does not charge balance transfer and foreign transaction fees
Cons
- Does not have a 0% introductory period on purchases and balance transfers
- Charges an annual fee after the first year
- Airport security screening reimbursement: Either a $100 statement credit for Global Entry or an $85 statement credit for TSA PreCheck® once every four years.
- Payment flexibility: Capital One lets you choose your monthly due date, enabling your business to control when to pay.
- Capital One Lounge: Cardholders get two free visits per year to the Capital One Lounge, which offers luxurious amenities and fresh, local food and beverage options.
Intro APR
N/A
Regular APR
26.24% variable
Annual Fee
$0 intro for first year; $95 after that
Credit Needed
Excellent
- Earn a one-time bonus of 50,000 miles once you spend $4,500 on purchases within the first 3 months of account opening.
- Unlimited 2x miles on every purchase, with no blackouts or seat restrictions and no minimum miles to redeem
- 5x miles on hotels and rental cars booked through Capital One Travel
- Issue employee cards for free
Pros
- With sign-up bonus
- Offers fixed-rate miles rewards on all purchases
- Does not charge balance transfer and foreign transaction fees
Cons
- Does not have a 0% introductory period on purchases and balance transfers
- Charges an annual fee after the first year
- Airport security screening reimbursement: Either a $100 statement credit for Global Entry or an $85 statement credit for TSA PreCheck® once every four years.
- Payment flexibility: Capital One lets you choose your monthly due date, enabling your business to control when to pay.
- Capital One Lounge: Cardholders get two free visits per year to the Capital One Lounge, which offers luxurious amenities and fresh, local food and beverage options.
When To Consider Capital One® Spark® Cash Plus
- You can spend at least $150,000 per year: If you can spend at least $150,000 per year, you’ll save on annual fees with the Capital One® Spark® Cash Plus. While it charges a $150 annual fee, it is refunded every year you spend at least $150,000.
- You want a charge card with ongoing rewards: It lets you earn 5% cash back on hotels and rental cars booked through Capital One Travel, and unlimited 2% cash back on all other purchases.
Other Benefits
- Offers a one-time cash bonus of $1,200 when you spend $30,000 in the first three months of card ownership
- Comes with no preset spending limit that adapts to your needs based on your spending behavior, payment history, and credit profile
Note that it requires an excellent credit score. If you meet the credit requirements, it’s easy to apply and get approved for the card. It is one of our top-recommended instant approval business credit cards.
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 adjust 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 is essentially a charge card, it provides a unique feature that is not typically available with other business charge 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 may apply for The Plum Card® From American Express through the American Express website. Online application takes a few minutes to complete. Make sure to prepare the necessary information, including your business name, business address, contact number, federal tax ID, annual business revenue, and estimated monthly spend. You’ll also be asked to provide your personal information, including your SSN and total annual income. Once you complete the application, it takes around 30 seconds to get a decision.
Bottom Line
The Plum Card® from American Express is best for business owners who want a charge 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, it does not have a 0% introductory APR, and it does not allow balance transfer and cash advance transactions.
