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Default/Penalty APR Floor:
$0 introductory annual fee your first year, then $250.
Foreign Transaction Fee:
(1.5% then 2.99% of the past due amount (minimum: $37))
Balance Transfer Fee:
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( Nov 16, 2013 at 3:27 pm
This card initially allows you to charge card with an increased spending limit and then all of a sudden cut off your spending ability to more than half of what you are able to spend the previous months even with good payment history with AMEX. After 3 months, they'll increase again and then 3 months after that, they cut it off again! All these without missing a damn on time payment! This happened to us twice already! It is so frustrating! This ultimately screws up your cash flow especially when you are a growing company. You are better off with a card that has a set credit limit that way you know exactly how much you can spend and plan allocation of cash flow appropriately.
Extremely disappointed with AMEX Plum. I would not recommend it for a growing company.
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