Business owners have something to be thankful for. American Express offers its best business credit card that can help both retailers and service providers. With the Plum Card, retailers can now enjoy unlimited spending on supplies and an extended due date to pay off their balance.
About the Plum Card
Retailers may often find themselves floating the cost of supplies and services for a period of time before the customers get them paid. This is the time when their investment gets the returns as expected. The Plum card is designed to provide business owners the time they need, because it understands how cash flow in the business works.
This being said, the Plum card allows the cardholder to pay the balance for up to 2 months – without any interest fees. However, they do require a 10% downpayment of the total amount beforehand. And if you’re able to pay the full balance within 10 days from the closing of your statement cycle, you get to enjoy a 1.5% discount.
Another business advantage of the Plum card is that there is no pre-set spending limit. But this does not mean unlimited spending. Instead, your purchasing power is still parallel to your credit history, financial resources, and the use of your card. Other factors deemed important by the company can also be considered as well.
American Express Plum card has also partnered with several companies that may be of use to your business needs. As such, exclusive discounts of 3% or up to 5% can be yours whenever purchases are made. These partners include FedEx and Hertz companies among others.
For the first year of use, you get to enjoy 0% annual fee. This is then increase to $185 every year thereafter. The fee for foreign transactions is at a fixed 2.7% of the amount after conversion to US dollars. For late payments of more than 60 days, the interest fee is at 1.5%, which is then increased to 2.99% of the previous amount due. Returned payments also incur a penalty of $35.
Bill payments can be managed by an authorized account agent or manager, provided that the individual is at least 18 years of age or older.
American Express truly knows how to celebrate the community impact of service providers and retailers. Doing business has never been this convenient.