topic Re: PLUM Card approved for my Business. in Business Credit

PLUM Card approved for my Business.

concorduser — Fri, 06 Mar 2009 18:24:39 GMT

Just now I received email from Amex indicating, application for PLUM Card has been approved for my Business and I should receive the card in the next 7-10 days. What a miracle. I thought I could never get this card. I guess I must be making strides in improving both my business and personal credit.

Re: PLUM Card approved for my Business.

Max09 — Fri, 06 Mar 2009 19:20:42 GMT

concorduser wrote:
Just now I received email from Amex indicating, application for PLUM Card has been approved for my Business and I should receive the card in the next 7-10 days. What a miracle. I thought I could never get this card. I guess I must be making strides in improving both my business and personal credit.

CONGRATS concorduser!!! that's great! i was offered the Business Gold Open from Amex for my business and am not sure what the difference is between the Plum card and the Business Gold Open . is one better than the other ?

Re: PLUM Card approved for my Business.

concorduser — Fri, 06 Mar 2009 19:55:36 GMT

Max09 wrote:

CONGRATS concorduser!!! that's great! i was offered the Business Gold Open from Amex for my business and am not sure what the difference is between the Plum card and the Business Gold Open . is one better than the other ?

Plum card from Amex is next to their Centurion / Black Card. With this card if you charge more than $5k/month and pay it in full in 10 days you can get 2% Cash back. If you business is tight on cash, you can pay 10% of balance and carry the rest for another 30 days. It is sort of new generation card from Amex for Business Customers. Goto Plum website and check out the features and choose the card that best fits your needs.

Re: PLUM Card approved for my Business.

Max09 — Fri, 06 Mar 2009 20:43:56 GMT

concorduser wrote:
Max09 wrote:

CONGRATS concorduser!!! that's great! i was offered the Business Gold Open from Amex for my business and am not sure what the difference is between the Plum card and the Business Gold Open . is one better than the other ?
Plum card from Amex is next to their Centurion / Black Card. With this card if you charge more than $5k/month and pay it in full in 10 days you can get 2% Cash back. If you business is tight on cash, you can pay 10% of balance and carry the rest for another 30 days. It is sort of new generation card from Amex for Business Customers. Goto Plum website and check out the features and choose the card that best fits your needs.

silly me. i ignored an invintation for the plum card 7 months ago. The Gold Open gives 2% to 5% off business related purchases. I use my amex charge card for everyday expenses personal and business. I charge easily 10k a month. I do not carry balances. is the 2% cash back on every transaction across the board or on qualified purchases only?

Re: PLUM Card approved for my Business.

concorduser — Fri, 06 Mar 2009 21:10:17 GMT

Max09 wrote:

silly me. i ignored an invintation for the plum card 7 months ago. The Gold Open gives 2% to 5% off business related purchases. I use my amex charge card for everyday expenses personal and business. I charge easily 10k a month. I do not carry balances. is the 2% cash back on every transaction across the board or on qualified purchases only?

Across the board 2% and no max limit on cash back amount.

Re: PLUM Card approved for my Business.

Max09 — Fri, 06 Mar 2009 21:31:45 GMT

thanks for the info. it sounds like it is a hard one to get approved for. other than scores, i wonder what other criteria they take into account..

Re: PLUM Card approved for my Business.

concorduser — Fri, 06 Mar 2009 21:36:45 GMT

Max09 wrote:
thanks for the info. it sounds like it is a hard one to get approved for. other than scores, i wonder what other criteria they take into account..

I think Amex looks at very many factors in the approval. My scores are hardly around high 600's. From what you said, you have excellent relationship with Amex with your present Amex cards. I am pretty sure you'll get approved for it. If it is some thing you like, go for it and apply for it.

Re: PLUM Card approved for my Business.

Max09 — Fri, 06 Mar 2009 21:51:02 GMT

i only have a green reward card with them and i use for everything. they have been trying to get me to sign up for the personal platinum for a while and i have been ignoring it. it seems like the plum card is a good card to have - given the amount i charge every month for business, 2% cash back is not bad. I think i am going to give it a shot. I will let you know the results. thanks again for sharing the info.

Re: PLUM Card approved for my Business.

Geordi — Fri, 06 Mar 2009 23:45:21 GMT

concorduser wrote:

Plum card from Amex is next to their Centurion / Black Card.

Pardon me, but the Centurion / Black Card has no relationship OR RANKING what-so-ever to the Plum Card.

The Plum Card is just a marketing thing. Pay your bill early and they give you a discount. Nothing special about the Plum Card other than the way that American Express marketed the Plum Card when it was first released.

Just another one of American Express' CREDIT card offerings.

Re: PLUM Card approved for my Business.

concorduser — Sat, 07 Mar 2009 00:04:14 GMT

Geordi wrote:
Pardon me, but the Centurion / Black Card has no relationship OR RANKING what-so-ever to the Plum Card.

The Plum Card is just a marketing thing. Pay your bill early and they give you a discount. Nothing special about the Plum Card other than the way that American Express marketed the Plum Card when it was first released.

Just another one of American Express' CREDIT card offerings.

Every thing is marketing and perception any way. I read posts claiming PLUM is next in line for Black Card. Personally it does not matter to me. I am happy I was able to get this card. For me it is a proof of my efforts succeding in credit building and progress I made. I came long way having a defaulted account with Amex in 1995 to getting a great card from Amex. I learned so much on this forum and transformed my life by learning best credit habits. ( Besides all the discipline, I agree, I am still bit trigger happy with apping. I am going to freeze all 3 reports on monday).

Re: PLUM Card approved for my Business.

thoughts1 — Sat, 07 Mar 2009 09:27:07 GMT

annual fee is $150 for that card, so you have to run 10k through it just to break even if you pay early and get the 1.5%...

plus that's one card that i haven't seen them waive first year annual fee on...

congrats though, how YOU feel about it is what counts, enjoy the new card

Re: PLUM Card approved for my Business.

iwantbettercredit — Sat, 07 Mar 2009 20:23:33 GMT

I applied for the plum card yesterday, don't know if I got it, it still says "Processing". I guess they want to make people feel like they have a chance to get it. The annual fee for this card is $185.00. Is it worth it?

Re: PLUM Card approved for my Business.

concorduser — Sat, 07 Mar 2009 21:42:31 GMT

iwantbettercredit wrote:
I applied for the plum card yesterday, don't know if I got it, it still says "Processing". I guess they want to make people feel like they have a chance to get it. The annual fee for this card is $185.00. Is it worth it?

It took 8 days for them to process application, I was getting the same message for 8 days until it is processed. I think it is manual review for this card.