In addition to offering up to $200 in Uber credits each year and up to $200 in airline incidental fee credits, the Amex Platinum card includes an annual statement credit for up to $100 for Saks Fifth Avenue purchases.
The credit is broken into two parts, with up to $50 available every six months. Especially with the holidays around the corner, this benefit can help you save while shopping for gifts — you could even be able to “stack” it with other discounts or bonus points offered through Saks or Amex Offers.
Keep in mind that we’re focusing on the rewards and perks that make these credit cards great options, not things like interest rates and late fees, which will far outweigh the value of any points or miles. It’s important to practice financial discipline when using credit cards by paying your balances in full each month, making payments on time, and only spending what you can afford to pay back.
How the Amex Platinum’s Saks credit works
Cardmembers will have to enroll at their Platinum Card Benefits Portal in order to receive the benefit. A $50 credit will be available when cardmembers shop at Saks, in-store or online, from January through June, and another benefit will be available from July through December.
The credit will be automatically applied when an eligible transaction posts on your statement. There is no minimum purchase amount, but you do have to pay for your Saks purchase with the Amex Platinum in order to receive the statement credit. Luckily, the card offers one of the best purchase protection policies to cover you against loss or damage, so it’s a strong option to use, usually when you’re buying higher-end merchandise.
How to maximize the annual Saks credit
Although items at Saks can be expensive, there are plenty of lower-priced items available, both during sales and otherwise. The credit may be able to cover an entire purchase, getting you a free pair of sneakers, or a shirt.
Saks runs seasonal promotions that can score you discounts when you hit different spending tiers, and you can stack the Amex Platinum’s Saks credit with these offers to save even more.
For example, as of publish time, the department store was offering $50 off a $200 purchase, all the way up to $750 off a $3,000 purchase, when you use the code GIVE19SF. If you were to pay the Amex Platinum for a $200 purchase, you could get up to $50 from the Saks statement credit, plus $50 off through the Saks promotion, for a total savings of $100.
Don’t forget to check your Amex Offers as well to see if you can “triple-dip.” While the Amex Offers for Saks are generally for bonus points rather than money back on eligible purchases, this is a great way to maximize your purchase by getting even more rewards for your spending. And if no Saks discounts or Amex Offers are available when you’re trying to use your Amex Platinum Saks credit, at the very least you can earn bonus points or miles by going through an online shopping portal to make your purchase.
For a deeper look at this card’s benefits, you can read our complete Amex Platinum review, which demonstrates how you can get more than $2,000 in value from the card in the first year.
Click here to learn more about the Amex Platinum card.
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