How Does LendingTree Get Paid?
| Advertising Disclosure

How LendingTree Gets Paid

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Advertising Disclosure

LendingTree is an advertising-supported comparison service. The site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products.

The Plum Card® from American Express

The Plum Card<sup>®</sup> from American Express

The Plum Card® from American Express

Early Pay Discount
Receive 1.5% discount for paying early*
Pay Later
Take up to 60 days to pay with no interest*
Extra Perks
No foreign transaction fees & no fee for extra employee cards*
Edited by
Glen Luke Flanagan
Reviewed by
Julie Sherrier
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Plum Card® from American Express best for?

The Plum Card® from American Express is a useful tool for businesses in need of a flexible way to manage cash flow. With no preset spending limit and the option to pay your balance in full each month or carry it for up to 60 days with no interest, the Plum Card® from American Express is unique among business cards.

There’s also a discount on any portion of your balance you pay within 10 days of the statement closing date. However, be aware the Plum Card® from American Express is not the right choice for everyone, because there’s a $0 introductory annual fee your first year, then $250.

To see rates & fees for the Plum Card® from American Express please click here.

Card overview

    • Paying early pays off: get a 1.5% Early Pay Discount, with no cap on what you can earn back.
    • 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.
    • Introductory annual fee of $0 for the first year, then $250
    • Terms & Restrictions Apply.
  • Credit needed:
    680 850
    Excellent/Good
  • Car rental loss and damage insurance (secondary)
  • Global Assist® Hotline when traveling more than 100 miles from home
  • Free employee cards
  • Tools to track and manage spending
  • Amex Offers (enrollment required)
  • American Express Experiences
  • American Express Seating
  • Purchase protection (up to $1,000 per occurrence, annual maximum $50,000)
  • Extended warranty (adds up to an additional year to eligible warranties)

 

Intro Purchase APR

N/A

Intro BT APR

N/A

Annual Fee

$0 introductory annual fee your first year, then $250.

Regular Purchase APR

N/A

Cash Advance Fee

N/A

Foreign Transaction Fee

None

Balance Transfer Fee

N/A

Pros and cons

Pros

  • No preset spending limit
  • Carry a balance interest-free for 60 days
  • Discount for paying early
  • Annual fee waived the first year
  • Foreign transaction fee: None

Cons

  • Expensive annual fee
  • Little in the way of benefits
  • Rewards are limited

What we like about the Plum Card® from American Express

  • Flexible spending limit

    Typically, credit cards give cardholders credit limits that can’t be exceeded. Try to spend more than your credit limit and the transaction will be declined. But the Plum Card® from American Express is a little different. It has no preset spending limit — rather, the amount you can spend adapts based on factors such as your credit history and purchase and payment history.

  • Carry a balance for up to 60 days

    With most cards, you must either pay your card in full each month or pay at least the minimum due and accept that you’ll incur interest charges (unless you’re in an introductory APR period).

    But with the Plum Card® from American Express, you can pay in full each month or you can carry a balance for up to 60 days interest-free, as long as you make the minimum payment by the due date.

  • Get a statement credit for paying early

    Get a 1.5% discount when you pay early, with no cap on what you can earn back.

  • No annual fee the first year

    This card has a $0 introductory annual fee your first year, then $250. Some cards charge an annual fee right year one, so it’s nice the Plum Card® from American Express waives it the first year.

  • Foreign exchange fee: None

    Swipe the Plum Card® from American Express card when doing business abroad without worrying about a foreign transaction fee, because there is none.

To see rates & fees for the Plum Card® from American Express please click here.

What to watch out for with the Plum Card® from American Express

  • Annual fee

    The Plum Card® from American Express charges a $0 introductory annual fee your first year, then $250. There are business credit cards with annual fees around $95 and even with no annual fee — so the Plum Card® from American Express is really only worth if you have a substantial cash flow and like having no set spending limit and the ability to carry a balance interest-free for 60 days.

  • Fewer benefits than you might expect

    With an annual fee as high as the Plum Card® from American Express charges, you might expect premium benefits. It’s true this card does have benefits such as extended warranty, purchase protection, and car rental loss and damage insurance, it’s lacking any travel benefits such trip interruption or coverage for lost and delayed baggage.

  • You might not always get rewards

    The 1.5% early pay discount applies to whatever portion of your balance you pay within 10 days of the statement closing date. In other words, if you take advantage of card’s ability to carry a balance for 60 days without interest charges, don’t expect to get the discount on the amount you roll over.

To see rates & fees for the Plum Card® from American Express please click here.

Alternate business card

Compare it to the American Express Blue Business Cash™ Card

Disclosures |
American Express Blue Business Cash™ Card
American Express Blue Business Cash™ Card
on American Express's secure site
Terms Apply
0% on purchases for 12 months from date of account opening
13.24% - 19.24% Variable
No annual fee
Earn 2% cash back on all eligible purchases on up to $50,000
  • Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
  • 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 American Express and other factors.
  • 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.24% - 19.24%, based on your creditworthiness and other factors as determined at the time of account opening.
  • No Annual Fee
  • Terms Apply
680 850

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

If your business doesn’t spend enough that you feel the Plum Card® from American Express is worth it, a different Amex card might be the right choice. The American Express Blue Business Cash™ Card charges no annual fee and offers straightforward rewards and solid introductory APR period on new purchases.

Cardholders with the American Express Blue Business Cash™ Card earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Plus, enjoy an intro APR of 0% on purchases for 12 months from date of account opening. After, a 13.24% - 19.24% variable APR will apply.

However, know the American Express Blue Business Cash™ Card charges a foreign transaction fee of 2.7% of each transaction after conversion to US dollars. So if you need to travel abroad, take a different card.

To see rates & fees for the American Express Blue Business Cash™ Card please click here.

Compare the the Plum Card® from American Express to other cards

Comparison of four different credit cards
The Plum Card<sup>®</sup> from American Express American Express Blue Business Cash™ Card Capital One Spark Cash for Business Ink Business Preferred℠ Credit Card
The Plum Card® from American Express American Express Blue Business Cash™ Card Capital One Spark Cash for Business Ink Business Preferred℠ Credit Card
Apply Now
on American Express's secure site
Terms Apply
Apply Now
on American Express's secure site
Terms Apply
Apply Now
on Capital One's secure site
Apply Now
on Chase's secure site
Welcome Offer
N/A $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening.
Rewards Rate
Get a 1.5% discount when you pay early, with no cap on what you can earn back. Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% 2% Cash Back for your business on every purchase, everywhere Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
Annual Fee
$0 introductory annual fee your first year, then $250. No annual fee $0 intro for first year; $95 after that $95
Intro Purchase APR
N/A 0% on purchases for 12 months from date of account opening N/A N/A
Regular APR
N/A 13.24% - 19.24% Variable 20.99% (Variable) 15.99%-20.99% Variable
Regular Balance Transfer Rate
N/A N/A Not Offered 15.99%-20.99% Variable
Balance Transfer Fee
N/A N/A N/A Either $5 or 5% of the amount of each transfer, whichever is greater
Recommended Credit
Excellent/Good Excellent/Good Excellent/Good Excellent
Card Details
The Plum Card® from American Express Additional card details unavailable Capital One Spark Cash for Business Ink Business Preferred℠ Credit Card

Is the Plum Card® from American Express right for you?

The Plum Card® from American Express might be right for you if you don’t flinch when you see the $0 introductory annual fee your first year, then $250. Those whose cash flow makes carrying a balance for 60 days without interest look appealing will likely find this a worthwhile financial tool.

On the other hand, if your business operates on a smaller scale, a more traditional business credit card might be better for what you need. For example, the American Express Blue Business Cash™ Card charges no annual fee and offers straightforward rewards.

To see rates & fees for the Plum Card® from American Express please click here.
To see rates & fees for the American Express Blue Business Cash™ Card please click here.

Apply Now
on American Express's secure site
Terms Apply