Guide to the AMEX Saks Credit ($100 per Year on All Platinum Versions)

About the Saks Credit

All versions of the AMEX Platinum card come with a Saks credit benefit. When you use the card at saksfifthavenue.com or at a Saks store, you can receive up to $100 in statement credits per year. It is split into two parts: $50 from January through June, and the remaining $50 from July through December. Note that this credit does not roll over. If you do not use the first-half credit, it is forfeited.

• Important: You must activate this benefit on the account’s Benifit page (Enroll) before you can use it! Once you Enroll, it remains active going forward.

Cards that have this credit include:

• AMEX Platinum
• AMEX Platinum Schwab
• AMEX Platinum Morgan Stanley
• AMEX Platinum Goldman Sachs

Each card’s Saks credit is separate. If you have multiple cards listed above, each card can receive its own credit. Authorized user cards share the same credit limit as the primary card.

Timing and Eligible Purchases

According to AMEX’s Saks credit terms, purchases made on Saks.com and at Saks Fifth Avenue physical stores are eligible. However, this only applies to Saks in the US. If you buy something that ships outside the US, it will not qualify for the credit. Saks outlet purchases also do not qualify. Saks gift cards also do not qualify for the credit, which we discuss below.

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.

Also pay attention to when the credit posts. If the post date falls in the first half of the year, it counts toward the January-June credit; if it posts in the second half, it counts toward the July-December credit. If it slips into next year, then it counts for next year instead. This can be especially annoying for certain Saks back order items. So try not to wait too long—use it as early as you can so you do not accidentally waste it.

Based on reader reports on DOC, if you buy something at Saks, receive the $50 credit, and then return the item, the credit may be clawed back. If the refund happens after June or December, then the credit you used is effectively lost. So if a return is involved, it is better to return it in-store for store credit or a gift card.

What to Buy

If you are not sure what to buy, a good starting point is to check Saks’ current promotions on its homepage.

• Saks promotion roundup

In my limited Saks shopping experience, there are often either instant discounts or promotions that give a promotional gift card. These seem to rotate regularly—one round is a discount, the next round is a gift card. By November and December, there are usually a lot more promotions. Clothing and shoes there are generally expensive, but some beauty products are priced in the low $50+ range. Discounted clothing and shoes can also be decent deals, so it is worth checking the sale section.

• Sales Under $50
• Sales $50-$150

Estée Lauder

Estée Lauder is a favorite beauty brand for many moms and older relatives, and it is something people often bring back on trips home. The prices on eye creams and serums are also pretty reasonable, with smaller bottles often in the $50-$100 range. That makes them a good fit for using this credit, especially if you can stack it with a free-sample promotion.

• Estée Lauder products (sorted by price low to high)

Clarins

This is also popular with younger shoppers and has good brand recognition in China, so it can be a nice option as a gift for friends too.

• Clarins product link

Kiehl’s

This is one of the somewhat lower-priced brands sold at Saks.

• Kiehl's link

La Mer

Not much to say here—you can think of it as getting a $50 discount from your credit card. That makes it a little less painful when buying it for your LD.

• La Mer product link

The North Face

Usually only discounted kids’ clothing lands in the $50+ range, though buying a bag can also work.

• North Face items

Kids’ Clothing

I have used the credit a few times on Ralph Lauren kids’ clothes. Honestly, they are really expensive, but buying discounted items can still make sense.

• Kids Item Sale

Gift Cards

First, look at AMEX’s written terms. All gift card purchases carry some risk of an AMEX clawback, so whether the credit gets reversed may depend on whether your transaction is reviewed. Proceed at your own risk.

Not valid on Saks Fifth Avenue Gift Cards or purchases at outlet locations (in stores and online) .

Saks sells both physical and electronic gift cards online. Physical cards start at $150, while e-gift cards start at $25. Based on people’s tests, these purchases have indeed triggered the credit. The same goes for Saks physical stores, where a $50 gift card purchase has also triggered the credit. However, there have been previous cases where statement credits from in-store gift card purchases were clawed back. In short, if you can buy merchandise instead of gift cards, it is better to do that.

• Gift card link

Shopping Tips

First, the most important thing bears repeating three times:

• Remember to activate the Saks credit
• Remember to activate the Saks credit
• Remember to activate the Saks credit

Cashback Portals

Saks is usually fairly generous with portal payouts. Rakuten is often the best option, and during promotions it can even go as high as 16%. If you use the MR version, you can earn 16x MR, which is very strong.

• Rakuten (formerly Ebates) guide

Besides Saks.com, Rakuten previously offered cashback at physical Saks stores too—you just had to link your credit card to your Rakuten account. However, that offer seems to have disappeared for now, though it may come back during the holiday shopping season.

AMEX Offer

AMEX also occasionally has offers related to Saks.com purchases, such as 10% back, an extra 1x MR, or spend $250 get $50 back. If you see a similar offer, it is strongly recommended to add it to your Platinum card first, since these offers can usually only be added once.

Coupon

You can find some coupons online. If you open Saks in incognito mode and wait without doing anything for a bit, there is a good chance a 10% off coupon will pop up. However, it usually comes with many restrictions.

ShopRunner

If you have a ShopRunner membership, purchases at Saks qualify for free 2-day shipping. Since AMEX cards themselves come with a ShopRunner membership, do not forget to use it.

• ShopRunner guide

Summary

Personally, I think the personal Platinum card is still a very good card to apply for right now. The welcome bonus is solid, and there are various credits that can offset the annual fee. If you only keep the card for one year, you can still come out ahead.

• $200 airline incidental credit
• $160 streaming credit
• $160 wireless service credit
• $200 Uber credit, usable on Uber Eats