Posted by William Charles on January 26, 2019
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Published on January 26th, 2019 | by William Charles

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American Express Saks Fifth Avenue $50 Twice Annual Credit – Everything You Need To Know [Return Clawbacks]

Update 1/26/19: Some readers returned items that they received the credit on. American Express has begun to claw back any credit issued for items that were returned.

American Express added a new benefit to the American Express Personal Platinum card offering a $50 credit towards Saks Fifth Avenue purchases. You receive a $50 credit on purchases made from January 1st until June 30th and another $50 credit for purchases made from July 1st until December 31st, 2018. You can enroll for the benefit here.

The Fine Print

  • Only the Basic Card Member or Authorized Account Manager(s) on a U.S. Consumer Platinum Card® Account can enroll in the benefit. Eligible purchases must be charged to the enrolled Card Account for the benefit to apply.
  • Purchases by both the enrolled Basic Card Member and Additional Card Members on the eligible Card Account are eligible for statement credits.
  • However, each Card Account is only eligible for up to a $50 statement credit from January through June and up to a $50 statement credit from July through December for a total of $100 per calendar year in statement credits across all Cards on the Account.
  • Valid at Saks Fifth Avenue online or at locations in the US and US Territories.
  • Not valid on Saks Fifth Avenue Gift Cards or purchases at outlet locations (in stores and online).
  • Excludes purchases at restaurants located within the store and Online Bill Pay for Saks Credit.
  • Not valid on online purchases shipped outside of the US.
  • Please allow 2-4 weeks after an eligible purchase is charged to your Card Account for statement credit(s) to be posted to the Account.
  • Please call the number on the back of the Card if statement credits have not posted after 4 weeks from the date of purchase.
  • Note that American Express may not receive information about your eligible purchase from merchant until all items from your eligible purchase have been provided/shipped by merchant.
  • Statement credit may be reversed if the eligible purchase is returned/cancelled.
  • If American Express does not receive information that identifies your transaction as eligible for the benefit, you will not receive the statement credit. For example, your transaction will not be eligible if it is not made directly with the merchant.
  • In addition, in most cases, you may not receive the statement credit if your transaction is made with an electronic wallet or through a third party or if the merchant uses a mobile or wireless card reader to process it.
  • To be eligible for this benefit, Card Account(s) must be not canceled and not past due at the time of statement credits fulfillment.
  • If a charge for an eligible purchase is included in a Pay Over Time feature balance on your Card Account, the statement credit associated with that charge may not be applied to that Pay Over Time feature balance. Instead, the statement credit may be applied to your Pay In Full balance.
  • For additional information, call the number on the back of your Card.

Maximizing The $50 Credit

F.A.Q’s

Do gift card purchases work?

According to the fine print gift card purchases do not count. If it automatically posts then you shouldn’t have any issues, but you obviously won’t have any recourse if that isn’t the case. Note that gift cards start at $150 online, but you can get a $50 denomination in store. Data points of it working: 1, 2, 3,

Can you split payment across multiple cards?

Yes you can split payment across multiple cards in store. It seems some stores are either unable to split tender properly or don’t know how to do it.

Do authorized users get their own credit?

No authorized users do not get their own credit, but purchases made by authorized users will trigger the credit. For example if the primary cardholder makes $50 in eligible purchases and the authorized user makes $50 in eligible purchases the total credit received will be $50. Similarly if the primary cardholder makes $0 in eligible purchases and the authorized user makes $50 in eligible purchases a $50 credit will be received.

Does this benefit work on other variations of the personal Platinum card (e.g Schwab)

Yes, it will work on any variation of the personal Platinum card. Keep in mind it does not apply to the business version of the card.

I received a $50 credit, but I didn’t make any Saks purchases?

It seems that if you enrolled before July 1st then a $50 credit is posting even if a Saks purchase was not made. It’s unclear if American Express will claw this back and if it counts as your July – December $50 credit for 2018 or not. Might be a January to June credit though. Update: Looks like this is definitely the January – June credit as lots of readers are reporting receiving two credits in total.

Does this work at Saks off 5th?

Outlet locations are specifically excluded in the fine print, I assume Saks off 5th counts as an outlet location. We don’t have any data points on whether this works or not unfortunately.

How long does the credit take to appear?

Officially it states two to four weeks, in practice it seems to be posting within about a week.

Does the $50 have to be made in one transaction?

No, the fine print specifically mentions purchases rather than purchase. You can make multiple transactions and you receive a credit up to $50.

Do shopping portals work?

Yes, this is just considered a regular purchase and then you get a credit from American Express at a later date. You should have no trouble receiving a portal payout and they are currently tracking correctly.

Isn’t biannual once every two years?

Biannual “Something occurring twice each year”. You’re thinking of biennial. I’ve tried to make the title clear it’s twice every year to avoid confusion.

I have another question…?

Well ask it in the comments below and we will do our best to answer it, or another helpful reader will! Please make sure you take the time to read through this post so you’re not asking questions that have already been answered.

 



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Jack
Jack

I got the $50 accidental credit within a few days of placing an order. Then also got a credit for the actual purchase amount. No claw back as yet.

Accidental credit posted on 2nd July
Actual credit posted on 6th July
Purchase made on 1st July

Calvin
Calvin

This is the DP I am waiting for, great news, Thanks!

Tim
Tim

I spent $45 and received a credit 6 days later.

Dave
Dave

I also got two credits. Made legit purchase on 7/1 and credit posted 7/2 and an additional credit posted 7/6. Both credits (totaling $100) are still showing.

Joseph
Joseph

I think semi-annual is 2x per year.

thomas
thomas

No, it’s biannual.

Jesse
Jesse

It’s both.

Matt
Matt

Semiannual means twice a year. Biennial means once every two years. Biannual can mean either semiannual or biennial, but usually biannual means semiannual.

CtownBin
CtownBin

This is completely correct.
Having said that, I still think that semi-annual is clearer than biannual, and avoids this confusion, because it is consistent with other time periods where semi means twice in one period and bi means once in 2 periods (eg, semi-monthly is twice a month and bi-monthly is once in 2 months, same for week, etc.)

Matt
Matt

Oh I absolutely agree it’s super clear in the title. However, biannual can in fact mean biennial.

Here are a couple definitions I found for biannual:

From dictionary.com:
1. occurring twice a year; semiannual.
2. occurring every two years; biennial.

From merriam-webster.com:
1. occurring twice a year
2. biennial

Eric
Eric

Does anyone else find it completely ridiculous that a word is allowed to have conflicting meanings like that?

Gadget
Gadget
Froide
Froide

Yep. Worse is the word “sanction”, which can have opposite meanings depending on context.

M
M

Semiannual actually means “every half-year” — this describes the timing of credits most accurately, i.e. one credit in each half-year.

max
max

Are we sure that those that registered after July 1st do not receive the credit non-Saks purchases?

max
max

..

Jesse
Jesse

How about semiannual?

Matt
Matt

That would be the most unambiguous way of saying twice per year, aside from just saying “twice per year,” of course.

Diar
Diar

You Saks watchers, give a holler if you see those khaki suede New Balance sneakers on sale again, normally $90 on sale for $34, perfect for this credit. All they had was size 11 when I first looked (one size too big). Checked again and all they had was size 8 (two sizes too small). Now completely sold out. 🙁

Brandon
Brandon

Can a Saks Fifth Ave purchase made on an authorized gold card trigger the Saks credit?

jcb
jcb

biannual vs semi-annual 😉

Credit
Credit

Does saks have Christmas sale?

I.e is it worth waiting or should we just use up the credit right now?

NinjaX
NinjaX

srsly? every retailer is freaking the shit out during the holiday season because they dont want to become the next TRU. yes, there will be deals. just wait.

SA
SA

Made a purchase on July 20. Transaction posted on July 23 and credit posted on July 24.

P
P

Does this work with the Chade shopping portal? I haven’t been able to get UR for shopping through the Chase portal when not paying with a chase card.

Gadget
Gadget

AFAIK, every credit card co. portal requires use of their brand credit card. Use cashback monitor to find the non-card specific portals.

Jeremy
Jeremy

Made two $150 e-gift cards with Mercedes-plat and regular Plat on Aug 8
Post posted on Aug 10

PhenomSmoove
PhenomSmoove

Another data point for gift cards working in store. Purchased $50 gift card Aug 19 and credit posted Aug 21.

Chris
Chris

Anyone confirm e gift cards work. Save me a trip to Saks

ZipZapKaZoom
ZipZapKaZoom

Online gift card are not sold by Saks bit by a third party card issuer. So no, they do not count.

Gaurav
Gaurav

Has anyone else received the credit without ANY Saks purchases? I was just doing end of year housekeeping and thought I still needed to use this. However, I noticed that it had posted against a Delta purchase…

E
E

$50 in store GC purchased 12/1, credited 12/4.

iahphx
iahphx

Is that a Sak’s GC you’re buying? They wouldn’t happen to sell 3rd party GCs?

E
E

Saks GC. Another DP: 1/11 purchased, credited 1/13.

Danny

Can you return the purchase and keep the credit?

james
james

I made a purchase on December 28 but the item did not ship until Jan 1 and transaction posted Jan 3, do you think amex can still give me credit and have that count as 2018 rather than 2019? Anyone have experience with this

RAM

I bought two items, credit posted, I return one (December)
and now I’m charged for the price of the returned item on
“Shop Saks with Platinum Credit”, basically credit claw back

P
P

Don’t risk a clawback. Just enjoy your free shirt or socks!

NinjaX
NinjaX

exactly. i mean do we really need an “update” about amex TCs? if you dont get caught, its YMMV and good for you. otherwise, expect it. lets not have another staples $100 situation, although thats a little different.

JV
JV

If you really want to return just return w/o receipt and call it a day with what you get back

Gadget
Gadget

What if you are not happy with your purchase? Ordered something for someone else, and it was not of good quality. Mailed the return back a few days ago, for a purchase made at the end of from December. Haven’t seen the return post to the Amex yet, so I don’t know if I will get the clawback. If they do clawback, I doubt I will ask Amex for an exception, but it will be rather annoying that I lost the $50. No store in area, and that option that people recommend here (buy GC at store) is useless for the majority of readers.

I guess next time I will go with a safer bet. $50 items, or reasonably priced higher cost items, are hard to come by at Sak’s.

J-Man
J-Man

Another DP – went to store, $50 gift card, credit received

anne
anne

I had to return the item because they falsely advertise on the website. Of course the credit will be clawed back but I can still make another purchase to reuse the credit???

NinjaX
NinjaX

yes. it usually works automatically, but you have to be careful and watch it. it may not post and u need to call.

JV
JV

Can you not exchange?

anne
anne

They do not have my size.

Matt P
Matt P

Just ask for store credit and they’ll give you a gift card.

az
az

Even clawback, you are still able to spend that money if the clawback not happens in the next half year.

Yoni
Yoni

The Derp report has some interesting DP on double dipping Shopping portal for GC then for purchases with GC. Being AD military he gets Pt Card with no AF and holds multiple Pt cards from PC cards over time. But if you have a B&M Saks that is convenient A triple dip in December and then either sell or save GCs and then in store get it converted to a $150 GC.

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