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


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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Does paying with paypal on Saks trigger the credit?

Brijesh N

can you buy $150 gift card over phone with 2 separate amex platinum?


I have a regular Plat and a MS Plat (recently acquired) and my annual fee on the regular Plat just posted. I’m planning to cancel the regular Plat mid-July (before the 30 day window) to get the annual fee back. However, if i purchase from Saks on July 1st (and likely the credit will post in a couple of days), does anyone know if they claw back the credit if i cancel the card before the end of the billing cycle ?


Anyone have experience returning an item and getting store credit/gift card? Does the AMEX still trigger without any clawbacks?


If you don’t get the refund back on the card, I’m pretty sure the Amex credit will remain.


It’s that time of year again – twisted arm spending.

Picked something out that cost $48, ordered Monday – arrived Wednesday. Planning on keeping it. So, with tax, came up to over $50. Anybody know for sure if this will or won’t count? Do I really have to do another order for a $10 pack of pencils to get over $50?

Last time I got my credit in two days, when it was $50 w/o tax. Currently at day 3.


“Shop Saks with Platinum Credit” $50 posted on Friday, with a date of Thursday.
Ordered item $48 plus tax = $50 6/10
Saks $50 Credit 6/13, showing online on 6/14


My first ever Amex clawback – my $50 from Saks. My statement says MAY12 REMOVAL OF CREDIT BALANCE $50.00. So very quiet… no e-mail, no phone call… just yank.

I feel so privileged to be recognized by the RAT. I want to thank all the people who got me here. William Charles Chuck my agent, my family….

Seriously though, what happened was I ordered something in December for S.O., but it was not up to par, cheap POS, and returned it in January, I figured to late to order something else for the 2018 credit, and left the credit balance on my account because I heard about the possible claw-backs. No other activity has occurred on that card… no Uber.. no random purchases since January. I left it with a $50 positive balance from the return credit.

So anyway, as other people have advised… Get your $50 pairs of socks or a bamboo cutting board and enjoy it, gift it, or resell it. Time to order something else…. before July.

Edit – Actually, now that I think about it, it is possible they are sending me a check for the credit balance. I highly doubt it. I will be back in a week or so to update.


Turns out my worrying was for naught. They mailed me a check for the positive balance.

Reminds me that I have less than 6 weeks to use the 1st half 2019 Sak’s credit.


What about the $50 e-gift card? Would that work to trigger the credit? Anyone tried it?


did you ever find out?


It brought me to a website called buyatab when I tried so I did not pull the trigger. Highly doubt it will work.


I purchased an item in late December and it posted to my statement in 2018, but the credit was dated early January 2019. Am I still entitled to the $50 up until June 30th, or do I need to wait to July 1st to get another $50 credit now? Appreciate if anyone can help answer.


I’d think your eligible (unless Amex’s system is messed up). You can chat with Amex to get confirmation.


The term “semi-annual” may be more clear for readers as opposed to “twice annual”. Just a thought!


Anyone have experience returning something online and asking for store credit instead of getting the $ back on your card? Going to order a clothing item which might not fit. Saks store is hundreds of miles away.


Tried this last year and was told that they were weren’t allowed to do this because of an issue in-store with fraud and people having gotten fired over it. Don’t know if that’s the case everywhere.