Saks Fifth Avenue American Express Platinum Benefit Now Live

Update 07/02/18: Benefit is now live. If you have the Vanilla platinum it seems like the credit is posting after you make any purchase (even if it’s not at Saks Fifth Avenue). I suspect American Express will fix this issue and claw back the statement credits but who knows. Only seems to be happening on the Vanilla variation and not on the others (update: showing on other variations as well).

The Benefit

Direct link to enrollment

In case you didn’t know American Express personal platinum cardholders are having a new benefit added on July 1st. You’ll receive a twice annual $50 credit to Saks Fifth Avenue, one from January 1st until June 30th and another from July 1st until December 31st. Keep in mind you can enroll now, but you can’t use the benefit until July 1st so no $50 credit for the first half of 2018 unfortunately.  Unfortunately gift cards are excluded as rumored, more on the restrictions below.

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.
  • 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
  • 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 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.

Our Verdict

Gift cards being excluded make the benefit significantly less valuable for me as I don’t exactly shop at Saks Fifth Avenue on the regular. Keep in mind that’s just what the fine print states, gift card purchases might still work but I guess we won’t know for sure until after the end of July as it does say you need to allow two-four weeks for the statement credit to post.

Hat tip to View From The Wing

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bicyclepp
bicyclepp

anyone wanting to trade or buy my 50$ saks credit? thanks.

raj
raj

Do I have to spend atleast 50$ to get the credit? or can I spend 30$ today and something else for another 30$ later next month ?? Will this trigger 30+20 credit ?

jcb
jcb

It’s on my Schwab Platinum

gne
gne

Are we really saying that off fifth is not included? Disappointed.

Pam
Pam

Enrolled in Amex Saks credit on 07/02 (thanks for the heads up DoC!), bought $65.00 worth of clothing ($69.39 with tax) on 07/03 via topcashback/saks.com and got free shipping, $50.00 credit posted today 07/08. Topcashback even matched a high rate from BeFrugal… still pending but I assume it will come thru.

Chicagoan33
Chicagoan33

I got some premium jeans for $54 on Saks.com (also used Shoprunner and Topcashback) but the credits are super weird, its 3 different amounts only totaling $37. Amex rep told me to contact Saks but I don’t even know what to tell them, they won’t have a clue what the Amex credits are. I’m going to wait a week to see if things work themselves out unless anyone has any suggestions for me. Thanks!

juanbeny
juanbeny

Stick with Amex. No point in contacting Saks.

Charlie
Charlie

Does the $50 have to be spent all in one transaction? Or is it just a total of $50 over the July to December period?

Calvin
Calvin

Um…let me give one more special DP over here. I Purchased 2x $100 AA e-Gift card on June 29. And I receive a total of $250 credit.
$100 airline credit x2
$50 sakes credit

Rahul
Rahul

Yeah it sounds like non-Saks purchases around or prior to 7/1 (activation date for Saks credit) are getting the credit. It’s an error on Amex’s part, and will probably be fixed soon. Quite a few people on Reddit are reporting DPs of this. I purchased a $50 Amazon GC yesterday just to see if the credit triggers when the charge posts.

CongestionCharge
CongestionCharge

Don’t forget ShopRunner and Cashback sites.

Michael H
Michael H

Yea, I caught 12% at befrugal yesterday.

Rahul Agarwal
Rahul Agarwal

I already see a $50 credit “Shop Saks with Platinum Credit” -$50
I never purchased anything from Saks. When I click on the transaction, it says Travel – Lodging to the Hilton stay I had last week.

Rahul Agarwal
Rahul Agarwal

Maybe its the $50 credit on $250+ transaction offer from Amex. But it is listed as “Shop Saks with Platinum Credit”.

Anyway.. happy to receive $50

P
P

I have never shopped at Saks. Gift cards being excluded makes it useless for me but we shall see what type of products the sell at ~$50.