What is the average credit score needed to get approved for an The Plum Card® from American Express?

The average credit score needed to get approved for The Plum Card® from American Express is a score of 690 or above.

Does The Plum Card® from American Express report to all three credit bureaus?

Yes, The Plum Card® from American Express reports to all three credit bureaus.

Is The Plum Card® from American Express application process lengthy? Can you prequalify?

The American Express application process is not lengthy, and you can get an approval or rejection decision on the American Express website in minutes. However, in some cases, the issuer may need to review your application. If this happens, the approval process may take up to 30 days.

What information is needed to apply for The Plum Card® from American Express?

To apply for The Plum Card® from American Express, you need to provide your personal information, such as your name, address and Social Security number. Your financial information, including level and source of income, will also be required.

Does The Plum Card® from American Express have good customer service or satisfaction?

Yes, American Express has above-average customer satisfaction ratings and ranked second in J.D. Power U.S. Business Credit Cards Satisfaction Study.

Does The Plum Card® from American Express have a mobile app or the option to pay or manage your account online?

Yes, you can manage your The Plum Card® from American Express online or using the mobile app. You can also access customer service on any of American Express's social media platforms and via a 24/7 hotline.

Does The Plum Card® from American Express raise credit limits automatically or charge for limit increases?

The Plum Card® from American Express does not have a spending limit, so limit reviews are not applicable. >>MORE: HOW TO INCREASE YOUR CREDIT LIMIT WITH AMERICAN EXPRESS

Does The Plum Card® from American Express offer the option to freeze your credit/account or have other security features?

The Plum Card® from American Express comes with standard security features such as EMV chip technology to reduce the risk of fraud. You will also be notified in case there is suspicious activity on your account. Lost or stolen American Express Cards are replaced for free and you will not be held liable for any fraudulent transactions.

Does American Express offer other credit cards besides The Plum Card® from American Express?

Yes, American Express offers multiple credit cards besides The Plum Card® from American Express, including the Marriott Bonvoy Brilliant™ American Express® Card, the American Express Platinum Card and more.

MoneyGeek's Take

The Plum Card® from American Express Review

The Plum Card® from American Express benefits are tailored to suit businesses that want flexible payment options and unlimited rewards for early payments. With The Plum Card® from American Express, you can carry a balance with no interest and earn 1.5% cash back every time you pay your bill early.

Advertising & Editorial DisclosureLast Updated: 3/13/2023

Reviewed By

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

If you run a small business, The Plum Card® from American Express offers good value and a simple reward structure. This business card does not have a preset spending amount and allows you up to 60 days to pay your monthly bill without interest provided you make the minimum payments on time. The Plum Card® from American Express benefits also include free employee cards. However, this card has limited rewards, and the only way to get cashback is by paying your bill early.

Card Details to Know Up Front

Bonus, Fee or Feature
Has or Not
Has Annual Fee
Has Balance Transfer Offer
Has APR Offer
Cash Back Rewards
Travel Rewards
Hotel Benefits
Airline Benefits
Has Rewarding Welcome Offer
Has Foreign Transaction Fee
Recommended Credit
Good–Excellent

Click to see this card’s rates, fees and how they compare to other cards in our dataset.

OUR REVIEW AT A GLANCE

Credit Card Details at a Glance
Pros & Cons Explained
Bonuses & Rewards Explained
Our Verdict: Is This Card for You?

The Plum Card® from American Express at a Glance

The Plum Card® from American Express has a regular APR of 0%. This can mean big savings on interest charges. As long as you pay the minimum due on time, you can hold a balance on this card interest-free for up to 60 days. In addition, making payments early earns you 1.5% cashback with no limits on how much you can earn. This flexibility makes this business card ideal for small businesses looking for a credit card.

The Plum Card® from American Express
Great no preset spending limit card with flexible payback methods
- Good–ExcellentRecommended Credit
- $250Annual Fee
- 1.5% Cash BackRewards Rate
- 1.5xRewards Rate on Groceries
- 1.5xRewards Rate on Gas
Pros
No preset spending limit
Good welcome offer
1.5% cash back on balances paid within 10 days of statement closing dates
Up to 60 interest-free days
No foreign transaction fees
Option to choose billing cycle

Cons
Annual fee of $250
Late payment and returned payment fees
Limited complimentary insurance coverage
No preset spending limit
$250 annual fee
No foreign transaction fee
Past due amount-based late payment fees
Option to change billing date
1.5% cash back on balances you pay within 10 days of statement closing date
Up to 60 days without interest, provided you make the minimum payment due in time
Car rental loss and damage insurance
No additional fees for employee cards
Integration with QuickBooks and year-end summaries
Extended warranty and purchase protection
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply
Compare this credit card with other top-rated cards from our partners.

Pros & Cons Explained

When choosing the best business card for your needs, it is important to weigh the pros and cons as well as evaluate how they will impact you. Here are the main perks and downsides of The Plum Card® from American Express.

Pros

Benefits
Description
No preset limit on how much you can spend
The Plum Card from American Express is a flexible business card that does not have a fixed limit on how much you can spend. This gives you the flexibility you need to handle your payments without worrying about caps or limits.
0% Regular APR
This business card allows you to hold a balance without paying any interest. You can hold your balance for up to 60 days interest-free as long as you pay the minimum due on your card on time.
1.5% cashback for early payment
Every early payment you make on your The Plum Card® from American Express earns 1.5% cashback. There is no limit to the cashback you can earn for early payments.
Free employee cards
You can get additional cards for free, meaning that you will not pay any annual fees for employee cards.

Cons

Drawbacks
Description
High annual fee
The Plum Card® from American Express has a relatively high annual fee of $250.
Restrictive reward options
You can only earn rewards on this card if you pay it off early.

LOOKING FOR THE BEST CREDIT CARDS OF 2022?

The Plum Card® from American Express is not on MoneyGeek’s list of the best credit cards. If you are looking for a business card with great reward options and a low (or no) annual fee, you can review our list of the best business cards that offer the most value depending on your needs.

Bonuses & Rewards Explained

To help you better understand The Plum Card® from American Express’s bonuses and rewards, we’ve researched more information about the rewards program, how to redeem your rewards, ways to maximize your rewards as well as the card’s interest-free period.

Reward Programs

The Plum Card® from American Express rewards are limited to 1.5% cash back as long as you pay your card early. You will get 1.5% cash back for any payment you make at least 10 days before your statement closing date. There is also no cap on the amount of cashback you can earn.

Redeeming Rewards

All the cashback earned for early payment is automatically applied to your account as a statement credit on the next billing cycle. This means that there is no other way for you to redeem your rewards other than statement credits.

Maximize Your Rewards

The best way to get the maximum value out of The Plum Card® from American Express benefits is to use the card for all your business purchases since it has no spending limit. Then, you should pay off the balance early to get statement credits.

Interest-Free Period

You can also take advantage of the 60-day interest-free period when you need to carry a balance without interest for up to 60 days. This can save you costly interest charges.

Other Features Explained

The Plum Card® from American Express provides many other features that might be beneficial for you.

Card Feature
Description
Standard Features
The standard benefits of The Plum Card® from American Express include purchase and rental car insurance, additional employee cards at no extra cost, expense management tools, 24/7 emergency assistance and an extended warranty on eligible purchases.
Customer Satisfaction
The Plum Card® from American Express has above-average customer satisfaction and is ranked second in the J.D. Power U.S. Small Business Credit Card Satisfaction Study. Cardholders also get access to 24/7 customer service by phone, live chat or through American Express social media accounts.
Security Features
American Express monitors card activity and will send you alerts if suspicious activity is detected on your card. You can also get your card replaced for free if you report it stolen or lost and you will not be held liable for any fraudulent transactions.

MONEYGEEK QUICK TIP

The early payment cashback reward on The Plum Card® from American Express means that businesses that make all their purchases using this card and pay them off early can easily offset the $250 annual cost in the form of cash back.

Understanding the Fine Print

The Plum Card® from American Express carries limited fees and charges. These are the key fees and rates you can expect on this card.

Card Feature
Amount or Rate
APR
Unspecified
Annual Fee
$250
Cash Back Rewards
Rewards Rate
1.5% Cash Back
Airline Benefits
Rewards Rate on Groceries
1.5x
Rewards Rate on Gas
1.5x
Rewards Rate on Dining
1.5x
Rewards Rate on Entertainment
1.5x
Rewards Rate on Online Shopping
1.5x
Rewards Rate on TV, Phone, Internet Services
1.5x
Rewards Rate on Air Travel
1.5x
Rewards Rate at Hotels
1.5x
Balance Transfer Fee
Unspecified
Balance Transfer APR
Unspecified
Late Fees
$39 or 1.5% of the past due amount, whichever is greater
Cash Advance Fee
Unspecified
Cash Advance APR
Unspecified
Foreign Transaction Fee
None

Annual fees
You will pay $250 yearly for an American Express Plum card. However, any additional employee cards do not incur any annual fees.
Regular APR
This card has a 0% APR, which means you can hold a balance on this card for 60 days with no interest.
Cashback rewards rate
The Plum Card® from American Express benefits include a 1.5% cash back on early payments made at least 10 days before the statement date. Cashback rewards are not capped.
Penalty fees
Late payments and returned payments incur penalty fees of up to $39. If you miss a payment for two billing cycles, you will incur a $39 penalty or 2.99% of the past due amount, whichever is greater.
Foreign transaction fee
This card does not have any foreign transaction fees. As a result, it can be used to make purchases worldwide at no extra charge.

WHERE TO FIND THIS INFORMATION?

If you would like more details on The Plum Card® from American Express, you can get up-to-date information from the American Express website. You can even review information on rates and charges from your account statement or online account. Authority sites like MoneyGeek are also good sources when you want to review credit cards. Furthermore, the credit card agreement database maintained by the Consumer Financial Protection Bureau contains useful information.

Who Should & Shouldn’t Consider The Plum Card® from American Express?

Other Considerations for The Plum Card® from American Express

Whether you plan on using The Plum Card® from American Express as your first or only card or an additional card in your wallet, there are some key considerations you should keep in mind in terms of whether the card is right for you or how to maximize its benefits. Make sure to evaluate the following to ensure you use the card effectively to minimize fees and get as many benefits from the card as possible.

Things to Consider if This Will Be Your First or Only Credit Card

If you plan on making The Plum Card® from American Express your primary business card, you should be aware of the following benefits and restrictions:

High spending limit
This card does not have a spending limit, so you can use it for all your business purchases. You can then maximize these purchases by paying off your bill early and earning 1.5% cash back. This will be automatically applied to your next statement.
0% APR
You can hold interest fee balances on this card for up to 60 days provided you pay the minimum amount due on time. This means using this card as your primary business card can save you a lot on interest charges over time.
The Plum Card® from American Express credit score requirement
With a good credit score of 690 or higher, you can qualify for an The Plum Card® from American Express.

Things to Consider if This Will Be an Additional Card in Your Wallet

For business owners who want a business card with more reward options, you can still pay to have The Plum Card® from American Express as a secondary card. Keep in mind the following.

No foreign transaction fees
This card has no foreign transaction fees and no spending limits. If you have other cards that implement these restrictions, you could use this card to supplement that kind of spending.
0% APR
You can transfer major purchases to The Plum Card® from American Express since it allows you to hold balances with no interest fees for up to 60 days provided you pay the minimum amount on time.
Early payment cashback
When you want to pay off large purchases before the statement due date, it pays to use the American Express Plum card since you can get 1.5% cashback on your payments with no caps on the rewards.

WHY TRUST OUR REVIEWS

MoneyGeek’s methodology consists of a comprehensive review process that is used to rate the best credit cards for different consumer profiles. We use factors such as card fees, interest rates, rewards, benefits and more to determine the best credit cards for different needs. Our comprehensive six-step process involves collecting credit card information, standardizing data point weights, establishing the cards' value and finding out how it ranks for different categories. We also review data monthly and other key rating factors.

How The Plum Card® from American Express Compares to Other Cards

For businesses that value flexibility over rewards, The Plum Card® from American Express provides great value. However, if you are interested in a business card with a more robust rewards program, there are options with better offerings in the market. One example is the Costco Anywhere Visa® Business Card by Citi.

Quick Comparison of The Plum Card® from American Express

The Plum Card® from American Express

Annual Fee: $250
Regular APR: 0%
Foreign Transaction Fee: None
Rewards Rate: 1.5% cash back on early payments
Redemption Options: Statement credits.
Mini Verdict: Best for businesses looking for flexible payment options and interest-free balances

Costco Anywhere Visa® Card by Citi

Annual Fee: $0
Regular APR: 19.74% Variable
Foreign Transaction Fee: None
Rewards Rate: 4% cash back on gas, 3% cash back for travel and dining, 2% cash back at Costco stores, 1% cash back on all other purchases.
Redemption options: Limited to once a year at Costco Warehouses
Mini Verdict: Best for businesses that are Costco members and spend a lot on gas, travel and dining expenses.

Other Helpful Decision-Making Q&As

For more information about The Plum Card® from American Express benefits and features, you can find answers to commonly asked questions below.

Still not sure about this card? Consider these options.

The Plum Card® from American Express stands out from other small business credit cards since it emphasizes flexible payments over rewards. Although the annual fee may be high compared to competitors in the same category, if you are looking for a business card that gives you more freedom when it comes to payments, The Plum Card® from American Express is ideal. For those who want more robust cash rewards, flat-rate cash back cards may be a better option to consider.

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Learn more about credit cards in general

sources

American Express. "Payment Information and Fees." Accessed December 15, 2021.
American Express. "The Plum Card." Accessed December 15, 2021.
J.D. Power. "U.S. Small Business Credit Card Study." Accessed March 16, 2022.

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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