It's no secret that we are huge fans of the American Express Platinum Card. While the card has an annual fee of $550, it offers a host of premium benefits that more than offset it.
On July 1st, 2018, the Amex Platinum Card will be adding a $100 annual credit for Saks 5th Avenue purchases through a new program they are branding “Shops Saks with Platinum.”
- Each year, you will receive $100 in credits to be used at Saks Fifth Avenue stores (online or in-store). One $50 credit will be available from January through June & one will be available July through December.
- You will have to register for the credit as it will not be automatic. You will be able to register for this credit starting on July 1st, 2018 using this link.
- The credit will only be offered on the American Express Platinum personal card. The Business Platinum card will not offer this credit.
- The credit will only be available for the primary cardholder. Authorized users will not be able to take advantage of this credit.
Using the $100 Saks 5th Avenue Benefit
To take advantage of this credit, you will just need to charge at least $50 at Saks online or in-store. There is no minimum spend requirement to receive the credit. As noted above, you will be able to do this twice each year.
It appears that you should also be able to use this credit to buy Saks 5th Avenue gift cards, though we won't be able to confirm that for sure until after July 1st when the credits become available.
While Saks isn't known for being a budget shopping destination, in theory, you could save these gift cards up for a larger redemption such as a Rimowa suitcase. Sak's has a number of sale items that you could use the Amex Platinum credit on as well. You can find those here.
Not only does the American Express Platinum Card offer the best lounge access of any card, it also comes with a $200 annual Uber credit and a $200 annual airline credit among many other premium benefits.
In our opinion, the card is already worth the $550 annual fee. The annual $100 credit for Saks Fifth Avenue purchases is just gravy and only makes the card more enticing.
H/T: The Points Guy