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Amex Platinum cardholders get up to $50 in Saks Fifth Avenue credits from January to June, and another $50 July to December.
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Platinum Card® from American Express offers up to $100 in credits at Saks Fifth Avenue each year.**
It’s split into two credits of up to $50 — one for January to June, and one for July to December.
You can stack the credit with other deals, like shopping portals and Amex Offers**, to save even more.
Read Insider’s guide to the best American Express cards.
In addition to offering up to $200 in Uber credits**, up to $200 in airline incidental fee credits**, and up to $200 in prepaid hotel credits each year, The Platinum Card® from American Express includes annual statement credits of up to $100 for Saks Fifth Avenue purchases.
The credit is broken into two parts, with up to $50 available every six months. If you haven’t redeemed your credit for the last half of the year yet, you don’t have much time left to use it — and you can even combine it with other discounts or bonus points offered through Saks, shopping portals, or Amex Offers**.
This is one of the many Amex Platinum benefits that can help offset the card’s The Platinum Card® from American Express annual fee, and there are lots of items you can buy at Saks that cost $50 or less.
Here’s how to use the Amex Platinum Saks credit.
We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Amex Platinum Saks credit: How it works
Once you enroll your Platinum Card at the Platinum Card Benefits Portal, you’ll be eligible for up to $50 in statement credits when you shop at Saks Fifth Avenue (in-store or online) from January through June, and up to another $50 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 Platinum Card 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, especially when you’re buying higher-end merchandise.
Amex says the credit should post in 2-4 weeks, but in practice it usually only takes a few days.
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How to maximize the Amex Platinum 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 credit from the Platinum Card with these offers to save even more.
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.
The The Platinum Card® from American Express currently offers an excellent welcome bonus: The Platinum Card® from American Express. That’s worth around The Platinum Card® from American Express in travel, based on Insider’s valuation of Amex points as worth 1.8 cents each, on average.
Other valuable Amex Platinum credits
In addition to Saks Fifth Avenue shopping credits, the Platinum Card comes with other perks that make the card worth it, whether you’re traveling or staying close to home, including some brand-new benefits:
Up to $200 per year in Uber credits** — Divided into $15 per month (except December, when you get $35), you can use these credits for Uber Eats purchases as wellUp to $200 per year in airline incidental fee credits** — You’re eligible for up to $200 in statement credits toward checked bag fees, priority boarding fees, inflight purchases, and more on your selected airline each calendar yearAirport lounge access — This includes Amex Centurion Lounges, Priority Pass lounges**, Delta Sky Club lounges when you fly Delta, and moreHotel elite status — Once you enroll, you’ll receive Marriott Bonvoy and Hilton Honors Gold elite status**, which gets you perks like room upgrades, bonus points, and in Hilton’s case, free breakfast (currently awarded as a food and beverage credit in the US)Up to $200 per calendar year in credits toward prepaid hotel bookings made with Amex Fine Hotels and Resorts or the Hotel Collection (minimum two-night stay)Up to $189 per year in credit toward CLEAR® membership**Up to $300 annual credits to Equinox** (up to $25 per month, but starting in 2023, you’ll be able to use the Equinox credit all at once)$300 statement credit when you use your card to buy a SoulCycle at-home bikeUp to $240 in annual digital entertainment credits (divided into monthly increments of up to $20)**Up to $155 in annual statement credits toward Walmart+ membership (divided into monthly increments of $12.95)**
For a deeper look at this card’s benefits, you can read our complete Amex Platinum review, and find out all the ways to use American Express Membership Rewards points, including non-travel redemption options.