Have you seen the commercials for the AMEX Plum Card? It’s freaking unreal. Mike talked us in to applying for one earlier this year and it was one of the best financial decisions we’ve made.
- There’s no limit – we each carry a card around and we charge all of our purchases on it, with the exception of a few places that don’t take AMEX
- If you pay within 10 days of your statement closing you get 2% cash back. When you buy ~$30k/month in inventory and supplies, $600 back is no joke.
- We also get 5% off of our FedEx shipments, all of which get billed to the card. We just hit a shipping tier where we got an additional 3.5% off from FedEx. Pretty soon we’ll hit another tier. With all of this our shipping costs are rapidly declining.
Mike also applied to get us put on the home page of the Plum Card website. Lo and behold, look who is the fourth card down from the top (out of 10,000+):
Wohoo!
If you guys keep that going you’ll soon be rocking a black card…I think you have to spend a minimum of 25k per month.
Now that’s the post I await!
You just paid em back.
Wow, those are some great features. Congratulations on getting posted on Amex’s website.
@Adam – man those black cards are freaking sweet http://en.wikipedia.org/wiki/Centurion_Card
Btw – I failed to mention that you have to pay the balance in full within 60 days, so you need to go into it knowing that the stuff you put on this card absolutely positively has to get paid off. Not a good option if you’re funding your startup on credit cards and trying to postpone payments for a year.
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