The Plum Card From AmEx
January 12th, 2008
The preference of cash transactions over credit card payments to receive trade terms on purchases is becoming a history with this new card from American Express. AmEx is creating a new service for business accounts by introducing The Plum Card from American Express OPEN SM. Paying the card balance early will entitle business owners for a 2% discount+. To have a choice of paying early and save on your purchases or to differ your payments, if needed, opens another dimension for charge card use.
The Plum Card Options Explained
Intro APR: 0%
Regular APR: as low as [PR+0]%
Annual Fees: $0
“Pay your balance in full within 10 days of your statement closing date and get a 2% discount when your month’s total spending is above $5,000 and 1% when it’s $5,000 or below. The discount is applied to all new eligible charges in that month, and will appear as a credit on your following month’s statement.”
Example: “Charge $10,000 monthly and regularly pay your bills in full within 10 days, and your monthly savings can be $200 (your yearly savings could be $2,400).”
Intro APR: N/A
Regular APR: 0
Annual Fees: $0/$125
“Take up to two months from the statement closing date to pay your new balance in full – all without interest or finance charges. Just make an initial payment of at least 10% by the Please Pay By date on your billing statements and you can extend payments on the rest until the next month’s Please Pay By date.”
Example: “If the new balance on your statement is $5,000, you can pay $500 by the Please Pay By Date and the rest by the Please Pay By Date on your next month’s billing statement.”
The Plum Card from American Express OPEN SM is a great choice for business owners to save money on purchases the way they are used to by means of trade terms. This is another great addition to the family of charge and credit cards issued by American Express. You can apply for The Plum Card at www.plumcard.com. Please see other credit card offers from American Express and Business Credit Card offers by major credit card issuers.
