The Offer
- Signup for the Amex Plum business charge card and get up to $600 cash back; for each $10,000 spent, you’ll get a $200 statement credit
The card also earns a standard 1.5% cashback on all purchases with no cap when you choose the Early Pay Discount option. Altogether, when spending exactly $30,000, you’ll end up with a 3.5% cash back rate.
Welcome bonus offer not available to applicants who have or have had this product.
Card Details
- Gets a 1.5% discount always when paying early
- Annual fee is $250, waived the first year
- No fee for employee cards
- No foreign transaction fee
- OPEN benefits
Our Verdict
3.5% cash back sounds fantastic (and it’s been around before), but it’s not the greatest offer. Remember, you can always get 2% back on numerous cards or even 3% for the first year of Discover IT Miles. So we can’t value the bonus at more than $450 after deducting $150 for the lower 1.5% earnings rate. And $30k is a huge spend threshold for $450 bonus.
I see this most for a business which has very high spend done monthly on a credit card. At that point, the offer isn’t bad.
Before applying it’s worth reading these 20 Things Everybody Should Know About American Express.
Hat tip to dubs3011 on reddit
600 / 30000 = 0.5% . Plus 1.5% base rewards. Total 2% cashback effectively, on your first $30k.
You can use a 2% cashback card like Fidelity VISA or citi Doublecash. No annual fee either.
And you don’t have to wait until you spend $30k.
Why is this even on the front page ?
Oops, I failed at math tody. It’s 2% bonus cashback. Total 3.5%. My bad !
You speak as if $30K spend is some sort of problem …
For a lot of people it is. Plus this is only 0.5% on top of Discover it Miles or an extra $150 so not that great.
It is when Amex starts clawing back points earned with GCs 😉
whats your method?
PASS!!