American Express Platinum Adding $100 Annual Saks Credit

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The Platinum Card by American Express has a $550 annual fee. Before we get to the benefits, there are several things I consider to be ‘offsets’ or dollar value credits that help me to mentally pay for the fee.

  • $200 annual airline fee credit. You choose one participating airline and each calendar year seat fees, upgrade fees, change fees, lounge access fees and similar can be reimbursed. Although it’s not supposed to work this way, each year I purchase (2) $100 American Airlines electronic gift cards. And since the benefit is per calendar year, not member year, in your first year with the card you can get this benefit twice (once before the end of 2018, again at the beginning of 2019).

  • $200 Uber credit. You get a $15 ride per month, plus an additional $20 in December.

  • $100 Global Entry application credit, or $85 TSA PreCheck credit.

Now they’re adding another benefit: $100 each year at Saks Fifth Avenue. It’s $50 in the first 6 months of the year, another $50 in the second 6 months of the year, with no minimum purchase required and the credit will work online. The benefit is slated to start July 1 and you’ll have to register at that time. (HT: Zach Honig)

You’ll receive a statement credit after purchase, this benefit applies to all personal Platinum cards, but not to business cards.

And of course the Platinum Card by American Express gets some elite status benefits — Hilton Gold, Starwood Gold (soon to become Marriott Gold), National Car Rental Executive — and club lounge access.

  • Delta lounge access when flying Delta same day


    Delta SkyClub Seattle, Credit: Delta

  • American Express Centurion lounges


    American Express Centurion Lounge, Houston

  • International American Express lounges


    American Express Lounge, Syndy

  • Priority Pass with unlimited visits and 2 complimentary guests


    Minute Suites Philadelphia

  • Plaza Premium lounges


    Plaza Premium Lounge, Male

  • Air Space lounges


    Airspace Lounge, San Diego

  • Escape lounges


    Escape Lounge, Reno

I’m not a regular Saks customer but I’ll happily make a $50 purchase every six months.

About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Comments

  1. This is completely worthless unless you are a regular shopper. How many $26 umbrellas would I need? If it was a $100/yr instead of $50/6 month it might have been more useful.

  2. Will the 50$ credit from say 1 half roll over? And if so, can you then make a 100$ purchase and get it fully reimbursed?

    I’m also assuming we only get 50$ credit this year.

    Thanks!

  3. Not bad! I just wish it was $100 instead of $50 + $50… I shop at saks twice a year anyways. A nice shirt when its on sale.

  4. Saks GCs sell for about 80% of face value, so at least this is an easy way to offset $80 of the annual fee

  5. Not a bad feature, the $50 will definitely buy a cosmetic our perfume item which can be given as a gift.

    BTW, photo of Amex lounge in Syndy.

  6. Finally a credit I can use! an extra $50 off a La Perla purchase for my lady friend is appreciated. I heard it here first!

  7. I sincerely wish I had the option of customizing the benefits with a card like this…tickboxes in a configurator site of some sort. At the end of the process it would come back with “your annual fee will be $375 with the options selected. Done. I haven’t shopped at Saks in 25 years and ubered once…

  8. Another less know benefit of the Platinum card: four hours grace period when renting a car from Hertz. In other words, rent the car at 10am, and you will pay no penalty if you return it as late as 2pm the next day. I just used it, fearing the small print. Well, there was none. The benefit is as simple and as straightforward as it sounds.

  9. To get the Hertz 4 hour grace, do you need to book Hertz through amex travel? Or just use the AX Plat on Hertz web site?

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