American Express: Plum Is The New Black.

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 OPENnnThe small circulation actually means it’s currently more exclusive than the Black Card. Current Benefits of the Plum Card (3-3-2008):nn * Early Pay Discount - receive up to 2% back if you pay your bill within 10 days of receiving it.n o Basically, this increases your profitability by 2% just by running your expense through the card.n o Instantly decreases your PPC costs by 2%n * Defer Pay Discount - pay 10% of your balance and defer the remaining for 30 days with no interest.n o We haven’t tried this out yet and hopefully won’t have to but it could be useful if cash flow is tight.n * No Limit.n o 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.n o Automatic discounts at certain restaurants, hotels, etc.. Upcoming features for the 10,000 businesses who made the initial selection:nn * Opportunity to promote your business through PlumCard.com and Plum Card Advertising.n o Create a digital card with your business name on itn o They provide you with a customized Plum Card “Who’s getting one?” arrow to display on your own business websiten * Opportunity to be on the Plum Card advisory boardn o Let them know how to make the card bettern