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Use them or lose them: Amex Platinum and Business Platinum shopping credits reset at year-end

Dec. 28, 2020
5 min read
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Part of maximizing the credit cards you carry is taking full advantage of the travel credits and other statement credits they may offer. It's easy to think, "I'll use that credit later," and delay using your credits. But if you have The Platinum Card® from American Express or The Business Platinum Card® from American Express, you may want to make some purchases before your credits reset on Jan. 1, 2021.

In particular, two types of July-through-December statements credits will reset on Jan. 1: Saks credits for personal Platinum cardholders and Dell credits for Business Platinum cardholders. So, let's dive into these shopping credits and how to use them before they reset.

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American Express Platinum Card: Saks Fifth Avenue

(Image courtesy of American Express)

Along with many other benefits, the Amex Platinum Card offers up to $100 in statement credits for purchases at Saks Fifth Avenue or each calendar year. However, these credits are doled out as up to $50 in statement credits from January through June and up to $50 in statement credits from July through December.

So, you'll want to purchase some items from Saks on your Amex Platinum Card before the end of the year if you haven't made any eligible purchases since the beginning of July.

Related: Your guide to the Amex Platinum Saks Fifth Avenue credit

The first step is to register for the statement credits — or ensure that you are already registered — using this direct registration link. Do this before making your purchase. Then make your purchase using your Amex Platinum Card.

There are plenty of items you can buy from Saks that cost less than $50. For example, my husband recently purchased a new shirt with his $50 credit. And here are some holiday gifts you can buy using your Amex Platinum $50 Saks Fifth Avenue credit.

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To fully maximize your purchase, go through an online shopping portal. I suggest using a shopping portal aggregator to find the highest payout. To use your July-through-December 2020 credit, ensure the charge posts by the end of December. As such, you shouldn't wait until the last day to make your purchase.

Related: 14 things to do when you get the Amex Platinum

American Express Business Platinum Card: Dell

(Image courtesy of American Express)

One of the Amex Business Platinum's benefits is up to $100 in statement credits between January and June and up to $100 in statement credits between July and December for U.S. purchases with Dell. However, as a limited-time perk during the coronavirus pandemic, American Express bumped the 2020 Dell statement credits up to $200 during each period.

As with the Saks statement credits for the personal Platinum card, you'll need to register for the statement credits (or ensure you are already registered) using this direct registration link. Be sure to register before making your purchase. And consider clicking through an online shopping portal to earn extra cash-back rewards, points or miles on your purchase.

There are many sub-$200 items available on the Dell website, so you don't need to purchase a new computer to benefit from this statement credit. For example, my husband and I have used our Dell statement credits to buy a portable wireless Bose speaker that's perfect for traveling, a Dell monitor that's great for working from anywhere, a new carry-on backpack and a Rosetta Stone Lifetime subscription.

Cardholders of the personal Amex Platinum also have access to a new up to $100 Dell statement credit (on U.S. purchases) through Jan. 31, 2021. To get this statement credit, you must add the offer to your card and then use your Amex Platinum card to make purchases that total $100 or more. You can pay with two different credit cards when checking out with Dell, so it's possible to use both the Amex Platinum and Amex Business Platinum when making a purchase.

Bottom line

As the end of December nears, there isn't much time left to make purchases that can be covered by the Amex Business Platinum's up-to-$200 July-to-December credit. After all, charges for most Dell purchases don't post until the item ships. But software purchases, such as a Rosetta Stone subscription, post quickly. So, buying software is a good option if you waited until the last minute to use your credit.

Related: Credit card showdown: Amex Platinum vs. Amex Business Platinum

Featured image by (Photo by The Points Guy)
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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