Amex Plum Business Card $600 Signup Bonus with $30,000 Spend

The Offer

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• Signup for the Amex Plum business charge card and get up to $600 cash back; for each $10,000 spent, you’ll get a $200 statement credit

The card also earns a standard 1.5% cashback on all purchases with no cap when you choose the Early Pay Discount option. Altogether, when spending exactly $30,000, you’ll end up with a 3.5% cash back rate.

Welcome bonus offer not available to applicants who have or have had this product.

Card Details

• Gets a 1.5% discount always when paying early
• Annual fee is $250, waived the first year
• No fee for employee cards
• No foreign transaction fee
• OPEN benefits

Our Verdict

3.5% cash back sounds fantastic (and it’s been around before), but it’s not the greatest offer. Remember, you can always get 2% back on numerous cards or even 3% for the first year of Discover IT Miles. So we can’t value the bonus at more than $450 after deducting $150 for the lower 1.5% earnings rate. And $30k is a huge spend threshold for $450 bonus.

I see this most for a business which has very high spend done monthly on a credit card. At that point, the offer isn’t bad.

Before applying it’s worth reading these 20 Things Everybody Should Know About American Express.

Hat tip to dubs3011 on reddit