Ebates is offering 10% cash back at Saks Fifth Avenue today, and you can use code FREESHIP for free shipping. If you have the complimentary ShopRunner benefit from AMEX, that may be even faster. It’s not clear when this bonus will end. Since you can now choose to earn MR points instead, this deal becomes especially attractive. AMEX Platinum also comes with a $50 Saks Fifth Avenue credit, so if you haven’t used it yet, now is a great time. Also don’t forget that there is an AMEX Offer for an extra 1 MR point at Saks Fifth Avenue, so be sure to stack that as well.

[Quick side note: for holders of the new AMEX Centurion Card, this is a chance to use a $1,000 reimbursement in one shot and earn 11,000 MR points.]

[This is not the all-time high cashback rate; it has gone as high as 14% before.]

  • Screenshot of the extra 1 MR AMEX Offer (works online and in store):
  • If 10% back in MR points still doesn’t seem attractive enough, or if using a single Platinum card is inconvenient, you can also consider going to a Saks Fifth Avenue store and buying a $50 physical gift card directly with your AMEX Platinum. At the moment, physical gift cards still trigger the credit, though e-gift cards do not. Recently this seems to be YMMV, and there are reports that some people have started getting clawed back. Ebates also offers in-store Saks Fifth Avenue cashback, currently at 2% (you need to link your credit card to Ebates first, then shop in store). For people who hold multiple AMEX Platinum cards, buying multiple $50 physical gift cards in store may be the better play. You can accumulate several gift cards and then use them together later when there is a good online sale on a larger purchase. Right now, both Ebates and TopCashback are fairly YMMV when it comes to Saks Fifth Avenue cashback tracking, and gift card purchases often still earn cashback. (Note: the Terms say gift card purchases are not eligible for cashback, but in practice Saks Fifth Avenue does not seem to enforce that consistently, so YMMV.) TCB sometimes has strong offers too, but Ebates is currently better, especially if you have an MR account.