The Plum Card from American Express is a business charge card created for entrepreneurs and small companies that need financial flexibility. Issued by American Express and operating on its global network, this card features no preset spending limit and offers unique payment options. Its structure is ideal for businesses with varying monthly revenues that benefit from extended payment terms or discounts for early payments.

In this article, you’ll find a detailed overview of the Plum Card from American Express, including its main features, eligibility criteria, pros and cons, and the complete application process. You’ll also understand which business profiles are best suited to benefit from this card’s distinctive advantages. Whether you’re scaling a startup or managing a mature business, this card may align with your operational needs.

Main features of the Plum Card from American Express

The Plum Card from American Express offers a flexible spending experience with no preset limit, adapting to your business’s payment behavior. It provides a 1.5% discount on eligible charges paid within 10 days of the statement closing date, while also allowing up to 60 days to pay without interest if the minimum due is met. It has a $250 annual fee and charges no foreign transaction fees, making it viable for international purchases and operations abroad.

Requirements for approval

To qualify for the Plum Card from American Express, applicants must be U.S.-based business owners and at least 18 years old. A good to excellent credit score (typically 700+) is expected, as the card issuer evaluates both personal and business creditworthiness. Applicants must provide business information such as legal name, tax ID, address, and annual revenue.

Benefits of the Plum Card from American Express

The Plum Card from American Express offers business owners real financial control through its early payment reward or interest-free grace period. Companies can either receive a 1.5% discount for quick payments or take advantage of the 60-day window without interest. The card also includes purchase protection, extended warranty, and the ability to add employee cards at no extra cost.

Exclusive highlight

One exclusive benefit of the Plum Card from American Express is its dual payment flexibility. Businesses can either save money by paying early or manage cash flow by deferring payments without interest. This dual system is especially helpful for operations with irregular income cycles. It creates breathing room during slow months while still rewarding strong cash flow management during profitable periods—an uncommon feature among business cards.

Disadvantages and points of attention of the Plum Card from American Express

While flexible, the card doesn’t include traditional rewards like points or miles. For businesses focused on accumulating travel or cashback benefits, this might be a drawback. The $250 annual fee is relatively high, especially considering the absence of a welcome bonus or points system. Additionally, the 1.5% discount only applies to payments made within 10 days, requiring tight financial organization and fast turnaround on invoices or revenues.

Application process explained

To apply for the Plum Card from American Express, visit the American Express website and select the Plum Card under Business Cards. Fill out the online form with accurate business and personal information, including tax ID and financial data. Once submitted, American Express will review the application and typically issue a response within a few business days. If approved, the card is mailed directly to your address. Keeping financial records in order helps speed up the decision process.

Who should consider the Plum Card from American Express?

The Plum Card from American Express is ideal for business owners who require payment flexibility and can benefit from early payment discounts. It’s particularly suited for businesses with variable cash flows, allowing them to manage expenses without incurring interest. However, businesses looking for a card with a robust rewards program or lower annual fees may want to explore other options.