Amex Plum Card Review

May 14th, 2009

plumcardDuring an informal poll of several small-to-mid-level Adwords advertisers, one of the discussions turned to their favorite credit cards.  Unsurprisingly, most of the cards we listed as the best credit cards for Adwords made the cut.  The Plum Card, one of those we featured, turned up as the overwhelming favorite.  Let’s see why.

The Plum Card has two major benefits going for it:

1. It offers a 1.5% rebate for all bills settled within 10 days.

2. If you make just 10% of your payment on time, you can defer the remaining payment for up to 60 days.

Once I read those, everything just made sense.  It is, indeed, a tremendous benefit to Adwords advertisers.   A lot of Adwords advertisers I know max out their credit cards within a week, some even after five days.  As such, they need to pay off all credit charges incurred in the first place.  The Plum Card essentially rewards them with a 1.5% rebate for something they’ll be doing in the regular course of business anyway.

The 10% payment makes it convenient if you do run into cashflow trouble, essentially allowing you to float your spending with just a minimum of liquid funds.  As a former manager of Adwords campaigns, I can understand the occasional need for this.  As long as you don’t make it a habit, it offers plenty of flexibility.

What’s the price of this convenience?  Pretty steep, as it turns out.  The Plum Card comes with a whopping $185 annual fee, along with pretty stiff penalties.  As an Amex Business card, the Plum Card comes with all usual privileges, including discounts at numerous hotels, merchants and car rentals.

It’s a bad idea for a consumer card, but a veritable godsend for PPC advertisers.

noel Posted in Business Credit Cards

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