As a business owner I depend on my ability to fund operations with credit cards. This not only allows me to extend my cash flow at least an additional 30 days, but provides me with short-term interest free financing of our operations. For the first few years of my business I used the American Express Business card as my primary source for payments and took advantage of rewards points. The rewards program is great, but it only give you back about ½ percent of the money you spend - which isn’t great these days. On top of that, I found that I wasn’t really taking advantage of the points that I had earned and they were starting to accumulate. Typically that rewards prized were over priced anyway.

Earlier this year AMEX announced an new card knows as the Plum and our business has greatly benefited. This card works the say way but the difference is that if you pay your balance 20 days after your statement closes you get 2% back on the total. That’s huge for a business! We are now seeing actual cash come back to us each month rather than points that we weren’t using to begin with. If you decide to extend your payment out for the full 30 days you still get 1% back and they have options of paying over time that are much more reasonable than normal high interest rates associated with most cards. This cash back card is much harder to qualify than any other AMEX that I’m aware of and you will be required to provide accurate company financials to an underwriting department. But once you have the card - it’s the best option out there for funding your business operations. I’m a big fan!

Steve P.

This entry was posted on Thursday, July 31st, 2008 at 10:19 am and is filed under Cash Back Credit Card. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.