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
View Comments (7)
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 ...
whats your method?
It is when Amex starts clawing back points earned with GCs ;)
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.
PASS!!