Should I keep the plum card or close it?

[Red1Blue]

I have my plum card capped with $500 CL and the AF of $185 is due. I called and they would not increase the CL or waive AF. Is it worth keeping the card and pay the AF and see if they would raise the limit in the future or should I close it and move on? Any thoughts?

[Iincognito]

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@Red1Blue wrote:

I have my plum card capped with $500 CL and the AF of $185 is due. I called and they would not increase the CL or waive AF. Is it worth keeping the card and pay the AF and see if they would raise the limit in the future or should I close it and move on? Any thoughts?

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The annual fee to CL ratio is reminiscent of a Credit One credit card...

[Anonymous]

I have Business Gold for 175AF. I considered the Plum, but I PIF anyway and prefer the reward structure. No CL, but AMEX probably has their own internal limits that I am not aware of. I have input $10,000 on their website, and it indicated the charge would go through. 

Perhaps you can do a PC to Business Gold? You may have more spending ability that way. I think they are more inclined to give lower limits on Plum because there is the option to pay over 2 months rather than in full. I think $185 is a lot to spend to have such a low CL on a business account. The one thing to consider is if the $500 CL is really all you need for your business. I know I personally could not benefit from a $500CL. I spend more than than in any given month.

I know people generally do not like to close out AMEX accounts. But I will be closing my personal Gold before the AF hits, and just keep my BCE for my everyday stuff.

[clocktick]

That's the business card, right?  What are the benefits and do they outweigh that AF?  The AF is over a third of the CL!  I would not keep a card with that high of an AF with that low of a CL.

[flowfaster]

$185 AF? Drop that sucker before the AF hits. If you have trouble getting prime cards try cap1 or see if your bank/CU has a secured card.