PlumInformation.com

I recently started my own business, which required me to get a credit card for the new business.  After looking at all the different credit cards on the market, and being an American Express person, I decided to go with the Plum card.  The 2% cashback option, coupled with the option to defer payment is something that I couldn’t resist, especially since the business is new and cash flow in the beginning is difficult.  I applied a few weeks ago and was instantly approved (I was not in the initial 10,000 members), which shows they are actively accepting new cardmembers.

The welcome package was nice, but not nearly as nice as the one I received from My personal Platinum Amex several months ago.

So far I have been very happy with the card and appreciate of the extra cash flow help it is going to provide for the first few months.  As most small business owners can attest to, the first few months can be difficult ones.

If you have a lot of advertising expenses each month, you are well aware of the nice benefit 2% cash back.  If you do any PPC marketing with Yahoo, you are eligable to receive an additional 5% cashback (on top of the plum’s 2%) for advertising expenses with Yahoo! Search Marketing.  This a very nice benefit, however the cashback amount is capped at $500 yearly, per card.  One way to get around this, would be to use multiple Amex business cards, and get the $500 back on each card.  For more information on this program, you can read the original source here.

While surfing the internet this morning, I saw a new wave of Plum card advertisements, promoting the fact that the card is “now open” to receive members outside of the initial 10k.  This ad was a 3 part, flash pop under.

American Express is now making a differentiation, even in their ads, between charter members (first 10K) and new members.  Each will be receiving the same plum card benefits, but it will be interesting to see how they actually treat the members differently, or make use of this charter member advisory board they have said they were going to create.

The American Express Plum card now has a fan page on facebook. Please connect, share ideas and thoughts to support the American Express Plum card. This should be another good avenue to connect Plum cardmembers together.

This plum cardmember profile is of my friends over at 3tailer, who were part of the initial 10,000 charter members.

What is your company name and what does it do?

Our company is called 3tailer - We are a niche online retail company with over 15 web properties and growing. Our primary focus is on search marketing, customer service, and identifying profitable niche markets.

What made you want to apply for the plum card?

The biggest reason for us was the 2% cash back. Our bottom line increased by 2% just by running our expenses and product costs through this card. But it also nice to know the extended pay terms could help with cashflow if needed.

Out of the many benefits offered by the plum card, which do you take advantage of the most?

The 2% cash back is the biggest thing. We haven’t used the 2 month payment defer option because then we couldn’t get the 2% back

Is this the sole credit card for the business?

No it is not. We also have a Bank of America Business Platinum rewards card that we use at places that don’t accept AMEX.

Because of the recently notoriety of the plum card, have you received any recognition or been contacted about potential business dealings because of being cardholders?

We have received no recognition and no contacts from other businesses. We are a B2C business so I wouldn’t expect much contact with other business owners anyways, but waitresses think we’re sexy. But it would be great if we were ever featured in one of the Amex promotional pieces for the Plum card.

What are some benefits you would add to the card if you had the choice?

3% + Cash back would be nice. Also, they need to raise the limit of the card - they say there is no limit but in actuality there is and once you hit it you have to pay off the card immediately to be able to continue using the card.

How has the plum card been able to help your business operate or grow?

The card allows us to manage cash flow much easier. The 2% is really the biggest thing.

As a charter member, do you think anything will come about with the plum card advisory board? If so, what are something you think would be good for it to accomplish

We might meet a few people - other then that I’m not sure what will come of it.

I recently received some Amex Plum marketing materials in the mail, so I thought I would snap a few pictures and show what they are sending out. I am assuming this is their standard pre-approval mailings.

If you haven’t browsed around on American Express’ Plum card site you should definitely check it out. They showcase a lot of card members on the site. If you mouse over a card it will turn and show you who the cardholder is. There also seem to be a lot of extra cards, maybe a future effort will incorporate all cardholders on the page?

Has anyone looked at the site and found themselves on there?

Paul over at Uberaffiliate.com, an affiliate marketing blog I read quite often, is estimating that his cash back each month from the plum card is getting to the 9k level. That is enough cash back that you can make a 6 figure salary by just breaking even, and profiting off the cash back. Not to mention if he becomes cash strapped, he can alway opt to float it for 2 months instead of paying it off early. Here is a screenshot of Paul’s bill.

American Express recently sent a letter out to its Plum cardholders notifying them of their charter member number (out of 10,000), and of the opportunity to participate in a Plum Card advisory board where members can share their opinions and experiences. My friends over at 3tailer (member #9518), recently received their letter which you can see here.

This is a very interesting concept that could prove great for Amex. They have limited the cards that are issued, creating a sense of exclusivity, and now they’re letting members voice their opinions on the card and its benefits. I will say that American Express does a very good job of offering services to Small Businesses that are really useful. I’m interested to see how the advisory board works out. Has anyone else heard anything about this board?

Here are a few of the Amex Plum commercials I have been able to gather from Youtube. As I find more I will add them. If you know of any I have left off, feel free to add them in the comments.

EDIT:

I am trying to embed the videos but it keeps messing up the site so here are the direct links

Pinkberry Commercial

Dyscern Commerical

MusicDirect Commerical