We published a list of small business credit cards earlier this year and if you look at that list today, you might notice a new addition or two. Previously, the offer on The Plum Card® from American Express OPEN wasn’t that attractive, as the card contained a high annual fee with a non-existent rewards program. Sure, it came with perks but when consumers are in need of credit, it’s important that they receive not only a good line of credit, but also an offer that forces them to use their card on all purchases because of the money saved. After a quick revamp, American Express has made certain that The Plum Card from American Express OPEN is your everyday small business charge card.
The premise is simple. The Plum Card® from American Express OPEN is not a credit card but a charge card. This means that your purchases must be paid in full, otherwise you will receive penalties and eventually have the account closed. However the two ways in which you can pay your purchases each month makes this card super awesome and are the following:
- Get a 2% Discount consisting of a 1.5% Early Pay Discount plus, for the first 6 months, get an extra 0.5% on all purchases, up to $250,000
- If you pay at least 10% of your bill, then you can take up to two full months to pay the rest. All other charge cards allow for a one-month payoff, giving you extra time with this small business charge card.
The annual fee of $250 might still be a problem for consumers but that fee is now waived for the first year, giving you a good amount of time to test drive The Plum Card from American Express OPEN. With that annual fee comes an extensive list of perks including:
- Roadside travel assistance 24/7
- Travel insurance up to $100,000
- Extended warranties on all products purchases using your AMEX card
- Identity theft assistance
If you have excellent credit and a small business in need of purchasing power, cash back opportunities and perks known only to American Express cardholders, then you will want to consider signing up for The Plum Card® from American Express OPEN.
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