It's my job to write about all things travel: new hotels and airline routes, travel rewards cards, points and miles … and apparently, a clothing store.
*amex platinum* just got a major facelift, complete with new “money-saving” credits and a whopping annual_fees annual fee (see rates & fees). One of those new credits is a kickback of up to $300 per year at Lululemon, doled out in increments of $75 each quarter. Activate this credit, use your Platinum Card to make a purchase at a Lululemon store or online at lululemon.com and Amex will credit your account up to $75 every three months.
But with the current quarter quickly coming to a close, you've got just a few days left to get your shopping done … before it's too late. The most straightforward way to use this credit would be to simply buy some Lulu gear – either online or in person – but it's not the only option.
While the official terms and conditions suggest that buying gift cards is off limits, our experience shows that isn't the case. Several members of the Thrifty Traveler team have already tested this new credit to purchase gift cards in-store (and even physical gift cards online!) and triggered the credit. So whether you can't find something you want right now or just want to save up for a bigger purchase later this year, you've got options.
Read on for everything you need to know about this new credit and how to use it up before it's too late.
$300 Lululemon Credit Basics
Amex Platinum cardholders now get up to $300 per year to spend at Lululemon stores and online at lululemon.com. While that sounds simple enough, there are a few things you need to know before you go on a shopping spree.
First and foremost, you'll need to enroll in this credit before putting it to use. You can do this by logging into your Amex account online or in the mobile app and navigating to the “Rewards & Benefits” section for your card.
In typical Amex fashion, you don't get the full $300 credit all at once. It's broken up into four separate chunks:
- $75 Lululemon credit: January – March (Quarter 1)
- $75 Lululemon credit: April – June (Quarter 2)
- $75 Lululemon credit: July – September (Quarter 3)
- $75 Lululemon credit: October – December (Quarter 4)
Unfortunately, they're all use-them-or-lose-them credits: If you don't spend the full $75 in a given quarter, any remaining balance won't roll over to the next one.
You'd be wise to complete your purchase at least a few days before the quarter ends – occasionally, a purchase will actually hit your account days later, accidentally triggering the credit for the new quarter. That's especially common with online purchases – it's not uncommon to see transactions listed as “pending” until the items actually ship. Amex may backdate it to the original purchase date … but it's no sure thing.
With the end of the month quickly approaching, you'll want to complete any online purchases in the next day or two. If you've got a Lulu store nearby and you plan to do a little in-person shopping, you might buy yourself a little extra time … but even then, you don't want to cut it too close.
What to Buy With Your First $75 Credit
Lululemon, it's a major retailer specializing in athletic ware, accessories, and personal care products. Even if you're well past your athletic prime, you'll probably still be able to find something you like, thanks to Lulu's line of multi-purpose “athleisure” clothing.
Just know, most Lulu apparel is pricey – like $140 for a pair of pants, pricey. So while this new $75 credit sure is nice, don't expect to fill your shopping cart full of stuff and walk out without spending a little (or a lot) extra.
And that's by design: These third-party credits that Amex keeps adding to its cards are partially-funded – or in some cases, fully-funded – by the company itself in an attempt to get you to spend even more. It's viewed as a marketing expense for most of these businesses (like Lululemon) – and a sneaky way for Amex to add “value” to its cards, while upping annual fees.
If you don't want to spend more than the $75 credit, my best recommendation is to head to the clearance rack in-store – or start by searching the “we made too much” section online. You can then filter by price, from low to high, to find the cheapest items possible.
Thrifty Tip: If you're shopping online, be sure to click first through a portal like Rakuten for additional savings. First-time users can currently get a $50 bonus after spending $50 at thousands of online stores, like lululemon.com!
Here you can see that the absolute cheapest items available online are a keychain and a pair of socks, both starting at $9. You'll also find underwear, hats, and other accessories starting around $20. Bigger ticket items like shirts and pants start around $30 and $70, respectively … and only go up from there.
Given the relatively high prices on most of these items, your best bet might be to try and stack your credits for a bigger purchase down the road by using this quarter's credit to buy a gift card instead.
Buy Gift Cards Instead
Forget what the terms and conditions say: Purchasing a Lululemon gift card works to trigger these credits, too!
Several members of our team tested this out over the weekend, buying both gift cards in-person at a Lululemon store as well as purchasing a physical gift card online to be shipped. A few days later, the Amex Platinum Card's credits kicked in to cover both types of gift cards!
This is a frequent phenomenon with Amex terms: While they might say gift card purchases are ineligible, they still work. In this case, most gift card purchases are processed directly by Lululemon and work just the same as if you were buying pricier gear.
But beware: While it's working today, this workaround to buy a Lululemon gift card could get closed tomorrow. Your mileage may vary!
And there's an important caveat you need to be aware of.
When you go to buy a gift card online, you'll be presented with the choice between an eGift Card that you can use (more or less) right away and a physical gift card that arrives in the mail within five to 10 business days. Since eGift cards are processed through a third-party – CashStar – it's highly unlikely that these will trigger the new Amex credit.
If you're planning to use this method for yourself, it's best (again!) to make your gift card purchase as soon as possible. If after a few days, you don't see your benefit tracker update as planned, you might still have a little time to make an actual purchase before it's too late.
Another option would be to purchase a couple of items – whether you actually want them or not – to make sure your credit doesn't go to waste and then return them later for a merchant credit (not a refund) later on. While that's certainly a bigger pain than purchasing a gift card outright, it's a solid backup plan if you have your eye on a couple of items that could work.
Bottom Line
The Amex Platinum now includes up to $300 per year in Lululemon credit (of up to $75 per quarter). And with September ending soon, you’ve got less than a week left to use this quarter’s credit before it's too late.
If you don't see anything you really like or want to save your credit for a bigger purchase down the road, buying a physical gift card in-store or online should work to trigger the credit instead – at least for now. Just be sure to enroll in this new benefit first … and don’t wait until the last day to use it!
Featured image courtesy of P.L. via Unsplash
