The Plum Card from American Express OPEN

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American Express OPEN President Susan Sobbott, announced today a new credit card from American Express called the Plum Card from American Express OPEN The Plum Card.

First off, the card offers some interesting terms. Remember the old 2% 10, Net 60? In other words you get 60 days to pay off the balance or take a 2% discount if you pay the balance in 10 days.

That’s all well and good, but the coolness factor may be what makes some sign-up – the card is as you can see in the photo, plum colored. I think it’s a great marketing play.

Oh, and the Inc 500 companies in attendance at the announcement all got an iPhone, not that’s what I call a nice conference souvenir. (I don’t know if they also get to claim the $100 rebate being offered by Apple.)


Tags

American Express, iPhone


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  1. John:
    I’m glad you’ve covered this, but I really think you should abstain from giving an opinion on products/services of companies whose website you are aligned with (ie OPEN Forum). It really does make one question your objectivity. At least you should put in some kind of “this company is a client of mine” statement.

  2. Nick, I only write about things that I think will help small business – question my objectivity all you want, I’ll just have to live with that I guess.

    Keep reading and you will find that this is indeed a commercial venture.

  3. The Plum Card positions itself as the card that offers “Trade Terms.” 2% off purchases are not trade terms. Buying furniture less 60% is trade terms – and it won’t let you do that – which would make it an exclusive membership card similar to the original green card that was second to diner’s club 1958 launch enabling Americans to first live beyond their means. I wish fewer lives took VISA. We’d all have a lot less stress than the withdrawl symptoms US families suffer trying to live with credit.

  4. Martin, traditional trade terms are something like 2% 10/Net 30 which means that if you pay within 30 days, you can take 2% off the statement balance. For those of us involved in trade, this card exactly what it states it is.

  5. Debate what you wish whether the Plum Card is a traditional trade card or not. The fact of the matter one can reduce their statement by 2 percent withing their payment terms. 2% to someone like our firm which pays our bills quickly brings additional profit to our bottom line.

  6. With the Plum card, can you write checks to pay for services that dont take the amex card?

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