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The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. The Plum Card® from American Express is a unique business credit card that gives business owners up to 60 days to pay off their monthly balance with no interest. However, you can earn an early-pay discount in the form of cash back if you pay your bill sooner. Here's how the card works and what to consider before applying.

Additional benefits:

Extra days to pay: If you need more time to pay off your monthly bill, American Express offers up to 60 days to pay interest-free. To qualify for this benefit, you need to pay at least the minimum amount due plus any previously deferred balance by your current due date. Then, you'll have until the following month's due date to pay the rest.

No preset spending limit: Instead of giving you a credit limit, the Plum Card adjusts your purchasing power based on your card usage and other factors.

No foreign transaction fees: The card doesn't charge a fee for purchases abroad.

All information about The Plum Card has been collected independently by and is no longer available through Yahoo Finance

The Plum Card offers the Early Pay Discount on the portion of your bill that you pay within 10 days of your statement due date. To qualify, you must pay at least the minimum amount due by your due date.

The discount will apply only to the amount you pay by that point. For example, if you have a $5,000 balance and pay $2,000 within the first 10 days, you'll earn $30 for that month.

Your early-pay discount will be automatically applied to your balance on your next monthly statement.

The Plum Card doesn't allow you to carry a balance beyond the 60-day payment terms. As a result, the card is best suited for small business owners who don't need more than a couple of months to float their operating expenses.

While the early-pay discount is also nice, business owners can enjoy better rewards from other cards without the early payment requirement.

Extended payment terms: Most business credit card issuers give you less than a month to pay off your monthly balance to avoid interest charges. With the Plum Card, you'll get up to 60 days.

No credit limit: The Plum Card is worth considering if you want a card with purchasing power that grows with your business.

Choose your billing cycle: You'll have the flexibility to receive your monthly bill when it works best for you and your accounts payable needs.

Requirement to earn cash back: If your top priority is earning rewards, you may be able to get similar or better cash-back rates on a card that doesn't require you to pay within 10 days to earn it.

Few benefits: Beyond the 60-day payment terms, the card doesn't offer any other notable perks. It also doesn't provide a welcome bonus to new cardholders.

Steep annual fee: The card charges a relatively high annual fee, especially for a card with few benefits.

You can use the Plum Card anywhere American Express is accepted. That includes most merchants in the U.S., though smaller businesses may not accept the card.

While the card doesn't charge foreign transaction fees, American Express isn't widely accepted abroad, so you may need to have a Visa or Mastercard credit card as a backup.

There are a few different ways you can make a payment on your Plum Card, including:

Online: Log in to your online account or the American Express mobile app.

Phone: Call 800-472-9297 to pay over the phone.

Mail: Send your payment to American Express, P.O. Box 96001, Los Angeles, CA 90096-8000.

Customer service availability: Phone and chat 24/7

Phone number: 800-492-3344

Customer service email: American Express doesn't provide email support

The Plum Card from American Express login page

If you're not sure whether the Plum Card is the right fit for you, or you want to compare a few options before applying, here are alternatives to consider.

Why we like it: The Capital One Spark Cash Plus offers unlimited 2% cash back on every purchase and 5% back on hotels and rental cars booked through Capital One Business Travel. While you have to pay your balance in full each month, there's no extra requirement to earn the card's impressive rewards rate.

Why we like it: If your business is relatively new or you don't have a lot of expenses yet, consider the American Express Blue Business Cash Card. The card offers 2% cash back on the first $50,000 you spend each calendar year, then 1% back after that (see rates and fees).

This article was edited by Rebecca McCracken

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.

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