Consumer Payment Card News

Plum Card

Black, white, green, gold, platinum are generic card colors until the arrival this week of the “American Express Plum Card.” The new card for small business owners offers an early pay discount of up to 2% and the ability to defer payment up to two months. Cardholders who pay in full within 10 days of the end of the billing period receive the early pay discount of 2% discount on new spending when it exceeds $5,000. Any month the charges total $5,000 or less receive a 1% discount
for early payment. Payment can also be deferred up to two months by paying 10% of the balance by the date indicated in the billing statement. The card’s $185 annual fee is waived the first year. The card also offers access to the “OPEN Savings” program, which offers automatic savings at select travel and service providers, and business suppliers like Delta, JetBlue, Fedex Kinko’s, and Hyatt. AmEx says the new “Plum Card” was developed for small businesses with high materials costs and variable cash flow, including construction, retail, wholesale, IT/Solution providers, the auto-care after market and others. For more information visit: “http://www.plumcard.com”:http://www.plumcard.com

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