- Waiting in Line for an iPhone: What Makes Some People Behave Like Cows
- America’s Most Overrated Jobs
- Walmart’s New Employee Dress Code Sparks Debate
- 10 Silly Sales Tactics You Fall for Every Day
- Feds Target Suspected Payday Loan Scams
- America’s 10 Best Cities to Live In
- Occupy Wipes Out Nearly $4 Million in Strangers’ Student Loan Debt
- The Most Counterfeited Products and 8 Ways to Avoid Purchasing Them
The Plum Card from American Express OPEN is a business credit card geared toward businesses that want to monitor their spending, as well as earn benefits for paying early.
- Pay less when you pay early. Cardholders get a 1.5 percent discount on their payment for paying at least the minimum payment due within 10 days of the statement closing date.
- Take up to 60 days to pay with no interest. Cardholders can take up to two months to pay without having to pay interest on their balance.
- Membership fee waived in the first year. The membership fee is $250 per year, but it’s waived in Year One.
- Customize your billing cycle. Cardholders can choose when they want to receive their bill each month.
- 24/7 service and support. American Express OPEN offers dedicated business consultants who know your company and can offer on-demand service and support.
- Purchase and travel benefits. The card offers purchase protection, return protection, extended warranty, and travel accident insurance.
- High annual fee. Although the annual fee is waived in the first year, it’s pretty high at $250 for all subsequent years.
- No introductory 0 percent APR offers. The card doesn’t offer a 0 percent introductory APR on purchases or balance transfers.
Get it if: You’re a business with excellent credit that spends significantly and has the means to pay the bills early to capitalize on potential discounts.
Forget it if: You have less than excellent credit, or want a personal credit card with reward points.
Follow Logan Abbott on Google+
Note: While we attempt to be completely objective when reporting on credit cards, this site may be compensated by issuers when a reader applies for a credit card through the links within credit card stories or on our credit card search page. Also note that any terms, rates or other features described in this article can change without notice. Always double-check everything with the issuer before applying for any credit card.