I learned about this two nights ago talking to a rep. I felt so special but it turns out it was ready for the press. My dear Plum Card is being "Enhanced". I had a very quick emotional roller coaster when learned of the changes. First, elation and anticipation that they had finally granted my requests crowding the suggestion box to raise the early pay discount to 2%...or better. But no. Instead these are the changes:
1. The 1.5% is now easier to partially earn. Before, you had to pay your statement in full within 10 days to get the discount. Now, you get the discount on any portion that you pay within 10 days....or at least 10% paid. Also: *** 6 month promo to earn to 2% up to $250,000.
2, the deferred payment option is now 60 days instead of 30 days. Of course, if timed a purchase at the beginning of the your cycle with the old Plum card, that was, in effect, 60 days. So, now it can be 90 days if you buy something big at the beginning of the cycle.
3. Annual fee jumps from $185 (waived first year) to $250 (waived first year).
All in all, I am not biting. I'm keeping my old "Unenhanced" Plum Card for now. The AF is lower and I PIF within 10 days anyway. So, the enhancements make it more user friendly (and slightly more expensive) but not more lucrative for aggressive payers like me. So, I'm kinda let down. My version of the Plum is no longer available for new applicants, BTW.
I hope Amex comes out with another Plum Card version that pays better discounts for people who PIF quickly and don't care about deferred payments. The "enhanced" card seems to be moving in the opposite direction. Oh well. I'll pass.....
Start (Sept 2011): low-mid 600s. NOW: TU FICO: 801, EQ FICO 808, EX FICO 798 (PSECU). Goal: Achieved! Now Maintain!