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I use American Express Plum. It's a trade terms card -- pay your bill within 10 days of the due date for a 1.5% discount on all your spending, or pay 10% of the
by dangrossman 15y ago
I use American Express Plum. It's a trade terms card -- pay your bill within 10 days of the due date for a 1.5% discount on all your spending, or pay 10% of the bill and you have 60 days to pay the rest interest-free.
It's not a traditional credit card, you can't maintain a balance past 60 days... but there's also no credit limit. You can spend as much as your business needs. I've been given credit cards with useless spending limits; Amex let me charge over $10k in the first half month I had the card.
Amex has amazing customer service, and they'll FedEx 2-day the card to you and activate it on the phone with you as soon as you receive it. And you'll get all the benefits all Amex cards come with that almost no one else offers, from extended warranties on all purchases, accidental damage reimbursement, return protection to discounts on purchases at all the OPEN partners like OfficeMax, FedEx and hotels.
- CyrusL 15y agoI use a Plum as well (I actually got grandfathered in with 2% discount). My understanding is that you can technically save more with Starwood if you use all the points perfectly, but I'm much happier with the simplicity of cash back.
- philipithomas 15y agoHowever: "The Plum Card is designed for businesses with revenue in the 6 to 7-figure range [...]" [1] So, it probably doesn't apply to most early-stage startups that need a line of credit. [1] http://www.plumcard.com/whoitsfor/ http://www.plumcard.com/whoitsfor/
- dangrossman 15y agoI don't know why that site says that, or what your revenue has to do with your choice of credit card. Amex doesn't know what your revenues are.
- VuongN 15y agoWhile I like the AMEX Plum Card, I think the annual fee after the first year is quite steep ($185). It's probably not much if you actually have a lot of cash flow, but I feel like the most usages would mainly be domain names, VPS or AWS S3 bandwidth etc.