Remember that post I wrote about our American Express Plum Card a few months back? We’ve only had the card since February, but we were just informed that we reached the maximum limit of savings that we can receive from FedEx in one year. Apparently the 5% discount only works up to $1,000/year of savings.
That means in ~9 months we saved $1,000 just by having our FedEx charges automatically charged to our Plum Card! This doesn’t even include the 2% cash back we’re getting too.
It also means that we spent $20k with FedEx in that short amount of time. I never really thought about it, but when you’re shipping out 50-60 orders on a good Monday and each order spends around $8 on shipping, it adds up.
These are the types of things that I don’t think big companies do much of or even really care about, but a bootstrapped company like us thrives on finding creative ways to save money and finance our growth.
As I’m writing this, I just remembered that we have an AMEX Gold Card that offers the same discount. It would probably make sense for us to switch over to that card for a while so we can continue to rack up the 5% savings. In 2009 we’ll be able to use both cards and hopefully save $2k (I suppose in theory we could get more cards, but I don’t know how many AMEX will let you have). And as I’m typing, George just confirmed all of this for me so we’ll definitely be making the switch. Man, you never know when you’ll have a bright idea 🙂