The Platinum Card from American Express is one of the most lucrative cards in the world of points and miles. That’s thanks to an outstanding welcome offer bonus, great travel perks, and a series of credits that help offset the card’s otherwise large annual fee of $550 a year.
And one of these annual credits is a bit quirky: Twice a year, cardholders can get a $50 credit toward Saks Fifth Avenue purchases (online or in-store). That’s once from January through June, and again from July through December each year for a total of $100 in credits.
That means time is running out to use the second $50 credit for 2019. You’ve got through Tuesday, Dec. 31 to use this $50 credit or lose it.
Saks Fifth Avenue isn’t exactly a thrifty store, but there are plenty of great items to buy under $50. And of course, you could simply offset a larger purchase by $50. And as long as you are shopping in-store, you can even purchase a gift card with your credit (this won’t work for online orders).
And always make sure to first click through Rakuten (formerly Ebates) on your way to the Saks website. You may be able to earn an additional 10% to 11% cashback on your purchase. That means if you spent $50 on your Amex Platinum card by first clicking through Ebates, you would come out at least $5 ahead after getting your credit from Amex and your cashback from Ebates.
And since your Amex Platinum card earns Membership Rewards points, you can choose to earn Amex points for your purchase instead of cashback.
You’ll need to activate this credit before making your purchase. To do so, simply log in to your American Express Platinum account and head to the Benefits tab, where you’ll be able to enroll for the Saks credit. Then just check out with your Amex Platinum card and the $50 credit should automatically apply in 1 to 3 business days.
There are two things to keep in mind with this credit: Only the personal version of the Amex Platinum (and not the Business Platinum card) is eligible. And only primary cardholders can get the Saks credit – any authorized users will not.
These credits aren’t earth-shattering, but they’re just another reason why the card’s $550 annual fee isn’t exactly as it seems. Add in the $200 annual airline credit, $200 doled out in monthly credits for Uber rides (or Uber Eats), and $100 to cover an application for Global Entry or TSA PreCheck, and it can be easy for many frequent travelers to justify the annual fee.
Oh, and make sure you utilize those credits before the year ends, too!
Click Here to learn more about the Platinum Card from American Express.
Use those Saks Fifth Avenue Credits or lose them! You’ve got through Tuesday, Dec. 31 to use up this second $50 credit for 2019.
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