I can’t tell you how many people grouse about the Saks Fifth Avenue benefit that comes with card_name.
Folks say things like:
- “Saks is expensive!” (I don’t dispute that.)
- “There’s nothing for me at Saks!” (We’ll address that in a minute)
- “I don’t shop at Saks!” (Here’s an excuse to do so twice a year)
- “I wish Amex would give me credit somewhere else!” (Amex gonna do what Amex gonna do.)
But, for heaven’s sake, don’t let the statement credit go to waste!
You can still come away with something. Let’s check it out.
What Is the Saks Fifth Avenue Amex Platinum Statement Credit Perk?
Platinum Card® from American Express members may receive up to $100 in annual statement credits for eligible purchases at Saks Fifth Avenue. (Enrollment is required and terms apply.)
Here’s how it breaks down:
- $50 from January through June
- $50 from July through December
The credits do not roll over. In other words, if you don’t use the January-June period’s $50, you lose it.
The following exclusions apply:
- Saks Fifth Avenue Gift Cards
- Purchases at Saks OFF 5TH Avenue store locations
- Purchases at saksoff5th.com
- Purchases at restaurants located within the store
- Online Bill Pay for Saks Credit
- Online purchases shipped outside of the US
Stick to purchases at SaksFifthAvenue.com or in-person at a Saks Fifth Avenue store and you should be good.
The only eligible cards are the consumer/personal card_name and its co-branded counterparts (Schwab, etc).
Cards such as card_name, Delta SkyMiles® Platinum American Express Card, and Delta SkyMiles® Platinum Business American Express Card do not receive the benefit.
Four Ways to Use Your Amex Platinum Saks Benefit
If you’re scratching your head and looking for decent ways to use your Saks benefit, consider these ideas.
Buy Yourself Something Pretty
I assume you wear clothes — occasionally, at the very least. So why not use your credit to buy something you need? Socks. Underwear. Pants. Shirts.
You get the point.
Remember, too, that Saks sells cologne, perfume, accessories, and even fancy-schmancy facemasks.
Even if the $50 doesn’t cover your entire purchase, it might put a nice dent in your final cost. I’ve used my Saks credit to knock off $50 when buying cologne.
Buy Something for a Loved One
The same principle as above applies here — except you’re being a sweetheart and treating someone else to clothes, their favorite scent, accessory, etc.
Donate Some Clothes
This sort of falls under the “Buy Something for a Loved One” category. But consider contacting a shelter, church, synagogue, mosque, etc., to see what they need for people they serve.
For example, a shelter may say they’re in desperate need of socks. I doubt they’ll think ill of you for donating some nice socks from Saks.
Gift Card (YMMV)
You takes your chances with this one. We’ve heard of gift card purchases — which are expressly excluded in the terms, conditions, and disclosures — getting the statement credit clawed back.
But if you want to see what happens, knock yourself out. Worst case scenario: you’re out $50 and have to buy something at Saks. Or re-gift the card.
Don’t Forget Free Shipping!
A lot of premium cards — such as the Amex Platinum — include complimentary membership to Shoprunner. This gives you free, two-day shipping from a number of retailers — including Saks.
Stack with Shopping Portals and Amex Offers!
Keep in mind that Saks purchases earn cashback through a number of portals such as Rakuten and Top Cashback. This means you can use your statement credit and earn money on top of the purchase.
Plus, Amex occasionally drops Saks offers that award bonus points or additional statement credit for certain purchases.
We’ll keep our eyes peeled and blog if we see anything exciting on either front.
Final Approach
The Saks Amex Platinum benefit can come in very handy and helpful. While Saks might not be your preferred store of choice (I’m not a regular shopper myself), you can still get $100 value each year with your Platinum Card® from American Express.
To see rates and fees for card_name, please visit this link. Terms apply. (See rates and fees; terms apply.)
To see rates and fees for card_name, please visit this link. Terms apply.
To see rates and fees for the Delta SkyMiles® Platinum American Express Card, please visit this link. Terms apply.
To see rates and fees for the Delta SkyMiles® Platinum Business American Express Card, please visit this link. Terms apply.
Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
You are right. It’s $100 better than $0.
I will occasionally buy a Robert Graham shirt from Saks Off 5th. I usually wait until I see Rakuten has a 10-15 % cash back…or in my case I take Amex Membership Rewards Points.
Going to the “Clearance” section of Off 5th a couple of weeks ago I found a shirt I liked for $80. There was an option to pay by Paypal which I used to get the AMEX Platinum credit. When I logged into my Amex account I see the online purchase coded as Sak’s and I get the $50 Platinum credit as well.
800 Amex points + $30 Paypal credit + $50 Amex Platinum credit = free shirt!
Well done!!
One more thing I’d point out: Saks’ prices are so outrageously insanely expensive that I just get a kick out of looking through the website and laughing that anyone in the world spends that kind of money. They also have some crazy clothes that you don’t see at your run of the mill Macy’s. Like your underwear example. It’s hard for people like me to realize that paying $50 for 3 pair of underwear (no, I have no clue why one underwear garment for women is called “a pair” but it is. Pantaloon days, perhaps?) makes any sense. But, I remind myself that it is (now that the annual fee is paid) 3 pair of FREE underwear. But, I do mostly side with those who value this perk at near 0 when evaluating the card and annual fee. It’s mostly for humor, imo.
I used my benefit to buy my wife her favorite perfume for Christmas. It isn’t cheap – but I saved $50 off something I would have paid more for somewhere else. Saks isn’t normally my jam, but a $50 savings is a $50 savings. And Amex is also offering savings at Best Buy, Home Depot, Pay Pal …. Certainly every offer isn’t perfect for everyone. But I definitely feel I’m getting good value out of my card since I got it a few months ago.
I get great value out of my AMEX platinum but Saks and the other meaningless perks isn’t one of them.
If you are out of options, just buy something for $50 and return it for store credit. Do it repeatedly and save up for something bigger. Not sure why the writer didn’t account for this.
They claw that back
No they don’t.
Amex will never know you returned anything for store credit. Especially if you do it in store.
I wouldn’t do this on purpose, but once the item I purchase broke and I had to return it. I chose store credit and Amex never clawed it back.
[Redacted] I’ve seen it done personally. Now go troll elsewhere.
I put the $50 towards my face cream so it is only $20….
I actually have no problem using this credit every 6 months. They have fabulous sales on children’s clothing and I can easily find one or two outfits for my grandchildren that fall under the $50 credit. You have to look at their sale page. There are lots of things in there for under $50.
Good for baby gifts and you can just enter the address of the new parents and have a gift note included. So. No personal shipping involved. Worked out great
Great suggestion!!