The Platinum Card by American Express is introducing an annual $100 credit with Saks Fifth Avenue for both in-store and online purchases.
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. You’ll receive a statement credit after purchase, this benefit applies to all personal Platinum cards, but not to business cards.
When taking advantage of your credit you can actually make money.
- Ebates is currently offering 4% cash back at Saks. Spend $100 in a year at Saks starting off at the Ebates portal and you pocket $4, on top of getting $50 off $50 twice.
- Even better, Mr. Rebates is offering 8% back.
- Chase and American both offer 5 points per dollar through their shopping portals. Here are other offers.
Registration for this new benefit is available already even though the offer doesn’t begin until July 1. Go ahead and register your Platinum card. (Update: if the registration link isn’t working you may also be able to log into your Platinum account and scroll down to the Saks offer, or just log in and do a ‘find’ on the page for ‘Saks’.)
The terms and conditions are available as well, I’ve added some line breaks for readability.
Shop Saks with Platinum (Effective July 1, 2018)
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.
Gift cards are ineligible. In-store restaurant purchases are ineligible. Additional cardholders on an account do not get separate Saks credits, but their purchases count towards the Saks credit for the whole account. You can get statement credits for purchases below $50, that’s just the six month cap on total credits.
Although you can enroll in the benefit now be sure to wait for Sunday to make purchases because the statement credit doesn’t go into effect until July 1.