Credit Cards

Using the Saks Benefit on Your Amex Platinum Card

Google+ Pinterest LinkedIn Tumblr
Rene’s Points For Better Travel, a division of Chatterbox Entertainment, Inc. has partnered with CardRatings for our coverage of credit card products. Rene’s Points For Better Travel and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. As an Amazon Associate I earn from qualifying purchases.


I can’t tell you how many people grouse about the Saks Fifth Avenue benefit that comes with the Platinum Card from American Express.

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 is gonna do what Amex is 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. Here’s how it breaks down:

  • $50 from January through June
  • $50 from July through December

The credits do not rollover. 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 Platinum Card from American Express and its co-branded counterparts (Schwab, etc).

The Platinum Card from American Express.
Learn how to apply for The Platinum Card from American Express

Cards such as the Business Platinum Card from American Express and Delta SkyMiles Platinum 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

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.

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.

Rene’s Points For Better Travel, a division of Chatterbox Entertainment, Inc. has partnered with CardRatings for our coverage of credit card products. Rene’s Points For Better Travel and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. As an Amazon Associate I earn from qualifying purchases.


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.

6 Comments

  1. 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!

  2. 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.

  3. 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.

  4. I get great value out of my AMEX platinum but Saks and the other meaningless perks isn’t one of them.

Write A Comment

BoardingArea