American Express has brought back a nice offer for their Plum Business Charge Card for those who have the ability of doing some heavy spending in three months. With the Plum card offer you can receive up to a $1050 statement credit, but the spending requirement is probably one of the highest, $30,000 in three months, in order to get the full bonus.
Here’s how this Amex Plum card offer works. You get a 1.5% discount on the portion of your eligible purchase balance that you pay within 10 days of your statement closing date, as long as you pay at least your Minimum Payment Due. Then get up to 2% back ($600) in additional statement credits.
The 2% back will appear as three $200 credits. To be eligible to earn each statement credit, you must charge $10,000 in eligible purchases during the first 3 months of membership on an eligible Plum Card from American Express OPEN, beginning on the date your account is approved. This adds up to a great 3.5% cash back in the first three months, which for a $30,000 spend, equals $1,050.
The offer becomes better with the waived annual fee for the first year. It will be $250 after that.
The annual fee of $250 for your Basic Card is waived for the first year of your membership.
The annual fee for Additional Plum Cards is $0.
Applying for the Card
Welcome offer not available to applicants who have or have had this Card. We may also consider the number of American Express Cards you have opened and closed as well as other factors in making a decision on your welcome offer eligibility.
This is a charge card, so you can apply for a credit card in the same day and combine the hard pull. Also charge cards don’t count against the 5 card limit with Amex.
The is a good offer with 3.5% or $1050 cash back, but the absurd spending requirement makes it more suitable for business owners that already spend those amounts monthly. The good thing is that even if you do 10K or 20K spend you will receive a partial bonus. But tou need to make sure that you can pay your bill within 10 days to get the extra 1.5%. Not