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Forums Payment cards Other payment cards Plutus. Trial coming to end. What to do?

  • chrishond 42 posts

    My 3 month trial of plutus is coming to an end.

    Each month, I have spent at my chosen perk retailer.

    I have 9 PLU at the moment.

    I wish to close the plutus account. Anyway to extract the PLU or any of the value accrued at the Perk retailer?

    FearlessTraveller 55 posts

    I’m in the same boat as you, as I finished my 1 month free trial after signing up, and unsure what to do.

    From what I know, the withdrawal of PLU has been suspended (and the withdrawal fee is around £25) so for the time being I would hold.

    chrishond 42 posts

    I want to avoid paying the monthly fee.

    So assume I have to shut the account in the next few days

    FearlessTraveller 55 posts

    I want to avoid paying the monthly fee.

    So assume I have to shut the account in the next few days

    Most likely you will lose the PLU, however I would contact support to see your options

    EwanG 113 posts

    There’s no free plan any more. The choice is to close your account, as above it’s going to be more cost effective to forfeit any PLU earned until now, or to continue with the Starter plan and accumulate PLU at a glacial rate. Starter pays for itself if you are willing to spend your perk at your chosen retailer each month and consider it as a buy of more PLU.

    Given they have kept chopping and changing the subs and thresholds over the past year I think they’ll soon realise the current proposition isn’t workable to new customers!

    Mr. AC 49 posts

    From what I know, the withdrawal of PLU has been suspended (and the withdrawal fee is around £25) so for the time being I would hold.

    PLU withdrawal is not suspended (I don’t think it has ever been suspended…)
    Current fee is £15.

    Honestly to me the main value of Plutus is that it officially gives cashback where no other card does, most notably HMRC. But I also put my car loan payment through it (through Bluechain).

    EwanG 113 posts

    @Mr. AC presumably you have been on Plutus for a bit then, and have a limit higher than £1k, having redeemed PLU to get this? Or your loan payment is within a standard limit…?
    I do enjoy the simplicity of Plutus for HMRC payments though, with no need to use a Curve Fronted allowance!!

    Mr. AC 49 posts

    Yes, I have a 6k limit because I decided to pay for the metal card when those were available. The higher spending limit wasn’t advertised as a benefit, but they gave it to everyone who got a metal tier retroactively. I’m assuming at some point an offer comes around that gives a higher spending cap for something else (like upgrading and maintaining a tier).

    I’ve been using Plutus for 2 years, and it’s definitely been very lucrative. Definitely a more risky bet vs “classic” reward cards of course, but I do tend to lean towards them being ok for now as long as the founder doesn’t lose interest (which he hasn’t, so far, as far as I can tell).

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