Known for its luxury fashion and unique expressive merchandise, the Saks Fifth Avenue websites & stores invite an elevated level of shopping experience. But given its high-end qualitative products, the items cost accordingly.
Luckily, if you’re an American Express Platinum cardholder, and if you time things perfectly, you can earn up to $100 statement credit per year for shopping at Saks Fifth Avenue. In other words, Amex will pay the first $100 (max; but can be less) worth of purchases at Saks Fifth Avenue.
How the Amex Platinum $100 Saks Fifth Avenue Credit Works
Without complicating things, Amex makes it relatively easy to earn this statement credit. Nevertheless, there are two essential aspects you should know here:
- The $100 credit is broken down into a bi-annual occurrence. Put another way, you can earn a max of $50 credit between January – June and then another maximum of $50 between July – December.
- Adding the two credits will get you your max of $100 reward, per calendar year.
You can, of course, shop for more at anytime. Just know that Amex will only give back up to $50 — divided into the two time windows for the current year.
How To Ensure You’re Able To Get the Saks Fifth Avenue Credit
Now that there is an understanding of the math side of things, below are the steps you need to follow — to ensure you’re able to earn the Saks Fifth Avenue credit:
- Log into your Amex account.
- Head over to benefits. You may need to go through the complete list of benefits.
- Enroll in this Saks Fifth Avenue Credit program. This is very important. Otherwise, you won’t be able to get the money back.
- Use your registered Amex Platinum card to shop on its website or physical stores.
If it helps, upon successful enrollment, you’d see a tick mark enclosed in a small circle — accompanied by an “Enrolled” label — to indicate you did everything correctly. (Check out the screenshot below for a visual context).
Other Aspects & Tidbits You Should Know for Earning the Amex Platinum Saks Fifth Avenue Statement Credit
Yes, you can. Ultimately, it comes down to that you’d get a max of $50 statement credit between January – June and the same between July – December. It does not matter how many transactions you’ve had.
For example, say you had two charges of $10 and $20. Then, in your statement, you’d see a credit of $10 and $20, respectively.
No. This benefit does not include the outlet stores. It only has to be on its website or the original physical stores.
No. The shipping address must be within the U.S., and similar applies to physical stores. (U.S. & U.S. territories).
Amex says it can take 2-4 weeks; however, real-world experiences from users prove that it takes much less than that. As a recent personal example, I had a Saks Fifth Avenue charge occur on June 2nd, 2022. In a short time frame of 5 days, I received its credit on June 7th, 2022.
For a complete list of the terms and conditions related to this benefit, please visit the Amex site. With that laid out, you can think very simplistically about this benefit. First, make sure you’re enrolled and using your platinum card either online or in physical stores. And then, make sure the shipping address is within the U.S. or the stores are in the U.S. or its territories.
From everything I gather, the entire benefit is on a use it or lose it basis. Translated, it means that:
A. If you do not take advantage of the $50 credit during the first half of the year (January – June), you lose it. Therefore, you cannot recoup that money even if you spend $100 or more during the second half. (You’d still only get $50 back).
B. Same logic applies during the second half. You cannot make up for it in the next year’s first six months.
C. And lastly, if you do not leverage this benefit in a calendar year at all, you don’t get anything.
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How the Saks Fifth Avenue Credit Looks Like on the Actual Credit Card Transaction
If you’re curious how all of this plays out eventually, check out the image capture below to see what the statement credit looks like.
Please Note:
- This post is only written from the perspective of personal American Express Platinum cards.
- For the purposes and context of this post, credit = statement credit.
- For the intents and context of this post again, max = up to. For example, max of $100, or up to $100.
- Expert Source: American Express