American Express: Plum is the new Black.
March 4, 2008
Earlier this year we decided to get an American Express Plum Card to run most of our expenses through. To say the least, we are pumped about our card selection. The Plum Card has proven to be an amazing asset to our small business and a great tool for managing cash flow. Today we received a letter in the mail from AmEx OPEN. Below is a recap of the letter and the card in general.
“Congratulations, your charter member number is 9,518 of 10,000.” Susan Sabbott, President American Express OPEN
The small circulation actually means it’s currently more exclusive than the Black Card.
Current Benefits of the Plum Card (3-3-2008):
- Early Pay Discount - receive up to 1.5% (formerly 2%) back if you pay your bill within 10 days of receiving it.
- Basically, this increases your profitability by 1.5% (formerly 2%) just by running your expenses through the card.
- Instantly decreases your PPC costs by 1.5% (formerly 2%)
- Defer Pay Discount - pay 10% of your balance and defer the remaining for 30 days with no interest.
- We haven’t tried this out yet and hopefully won’t have to but it could be useful if cash flow is tight.
- No Limit.
- Well actually, when you first get it they put a 32k limit on the first month but it grows as you continue to build and pay off high balances.
- Automatic discounts at certain restaurants, hotels, etc..
Upcoming features for the 10,000 businesses who made the initial selection:
- Opportunity to promote your business through PlumCard.com and Plum Card Advertising.
- Create a digital card with your business name on it
- They provide you with a customized Plum Card “Who’s getting one?” arrow to display on your own business website
- Opportunity to be on the Plum Card advisory board
- Let them know how to make the card better
Check out the scans of the letter we received regarding the above upcoming rewards of this awesome card.
Anyone else have it? American Express Blue Cash here. Or the American Express Platinum is a popular choice.
Comments
12 Responses to “American Express: Plum is the new Black.”
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I didnt realize how exclusive the card was until I received my letter.
I am # 364.
thank you, guy
Wow … that is a low number. I thought our Charter Member number of 4,824 was low.
I received my charter letter a few months back as well.
anyone know when the “advisory board” will be opened?
heeey all
can any one tell me whats amex black withrawall limit from an ATM
tkanks
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Charter member means that you are in the first 10000 who got the card, not that its members are limited to 10000!!!
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I’m member 1,727. I really haven’t felt that it is the new Black though. It is a dandy card, but other than being one of the latest cards from AMEX, I’m really not finding it to be any classier than any other card. The Gold or Platinum card open a lot more doors than the Plum card does. I do like knowing what number I am though. I applied on the day they opened applications and was surprised that I was approved since my business isn’t a six figure spender. Having AMEX history for the last eight years might have helped a little or maybe having another business card with them (that I will be going back to) helped.
Too bad they lowered the early pay discount to 1.5% this month! Now its the same as every other reward card! Also… you could be any joe smoe company to get this card and its personally guaranteed… sooo the new black… I dont think so. I’m throwing mine away.
@Nathan, agreed–they opened it up to everyone now. It looks like as a Charter Member we are grandfathered in at 2% though so that’s nice. It’s really been an asset to our business.