American Express OPEN today announced enhancements to the Plum Card (www.plumcard.com) to help small business owners better manage cash flow and free up working capital by taking advantage of the card’s built-in trade terms.

Trade terms are an agreement between a company and its supplier for the timing and amount of payments. Typically terms include extra days to pay -- 30 days on average -- and less frequently, early pay discounts. Small businesses may not have sufficient leverage to negotiate trade terms on all major purchases.

The Plum Card is the combination of these two coveted benefits -- and Cardmembers now have access to both:

• Early Pay Discount -- When Cardmembers pay at least 10% of their balance within 10 days of the statement closing date, they will earn a 1.5% discount on the portion they elect to pay. Previously, Cardmembers were required to pay the balance in full to enjoy this benefit.
• Extra Days to Pay -- When Cardmembers pay at least 10% of the balance, they can take up to 60 days from the statement closing date to pay the remaining balance without penalties or interest charges.

Both options are designed to help Cardmembers better manage cash flow. The payment flexibility allows Cardmembers to adjust to changing business needs and also have the option to choose the most convenient time for the billing cycle to close -- either at the beginning, middle or end of the month.

According to the Spring 2012 American Express OPEN Small Business Monitor, a semi-annual survey, cash flow is a paramount issue for entrepreneur. In fact, half (50%) of small business owners are concerned with having cash available to pay bills.

Plum Cardmembers can take advantage of other perks, such as a no pre-set spending limit to allow them to evolve with their business expenses and access to the OPEN Savings® program, which offers discounts to a number of products and services from American Express partners. Partners include FedEx, Hertz and Office Max, among others.

"Our focus is to keep empowering small businesses with the right tools to allow them do more business and that includes helping them understand and manage cash flow. Plum Cardmembers have earned and reinvested hundreds of millions of dollars in their businesses," said Federico Acuna, vice president of Charge Cards, American Express OPEN. "The current enhancement to the product is addressing the need for greater payment flexibility while still providing unique trade terms on a payment solution."

About American Express OPEN
American Express OPEN is the leading payment card issuer for small businesses in the United States and supports business owners with products and services to help them run and grow their businesses. This includes business charge and credit cards that deliver purchasing power, flexibility, rewards, savings on business services from an expanded lineup of partners, and software-as-a-service applications designed to help with cash flow, marketing and business expenses. Learn more at OPEN.com and connect with us at openforum.com, twitter.com/openforum and facebook.com/open.

American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, twitter.com/americanexpress and youtube.com/americanexpress.