Your guide to the Amex Platinum Saks Fifth Avenue credit

Of all the personal travel cards on the market, the one that offers the most perks and access is The Platinum Card® from American Express.

It's also one of the most expensive cards due to its $895 annual fee (see rates and fees). However, you can get your money's worth with lounge access, up to $200 in annual Uber Cash each calendar year (for use in the U.S.; add your Amex Platinum to your Uber account and use any Amex card to redeem) and up to a $120 Uber One statement credit that fully covers an auto-renewing $96 annual or $9.99 monthly membership, up to $200 in airline incidental fee credits per calendar year and a statement credit of up to $100 per calendar year at Saks Fifth Avenue (up to $50 biannually). Enrollment is required for select benefits; terms apply.

If you're like me and spend more than $100 a year at Saks Fifth Avenue, this is like money in the bank. Even those who don't typically shop at Saks can find value in this credit, which resets every six months.

If you associate Saks Fifth Avenue with $4,000 Prada dresses, you're not wrong. However, you might be surprised to find that they also offer many other more reasonable and affordable items.

Let's take a closer look and see what this credit offers.

How the Saks Fifth Avenue Amex credit works

The credit is available as two up to $50 statement credits per calendar year. Your first up to $50 statement credit is available from Jan. 1 to June 30, and your second up to $50 statement credit is available from July 1 to Dec. 31.

You need to enroll for this benefit to take effect, and you can do this through your online Amex account.

There is no minimum purchase required to trigger these statement credits, meaning you could make a purchase of $50 (or less) once every six months and not owe anything out of pocket once the credit posts to your Amex Platinum account.

To many people's surprise, Saks offers items that cost $50 or less. While the merchant's frequent sales drop the prices of all sorts of items to palatable levels, some items are always below that price point.

Daily Newsletter

Reward your inbox with the TPG Daily newsletter

Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts

Email address

Sign up

By signing up, you will receive newsletters and promotional content and agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.

There are some limits to this cardmember credit, however.

First, you must enroll before you can use it.

Second, the terms state that this Amex Platinum statement credit is valid at Saks Fifth Avenue online or at locations in the U.S. and U.S. territories. It is not valid on Saks Fifth Avenue gift cards or purchases at outlet locations (in stores and online). It excludes purchases at restaurants within the store and online bill pay for Saks credit.

Third, there is a $300 minimum (before taxes) for free shipping. You could choose to meet that minimum to avoid the shipping fee of $9.95. Some readers have had success by asking American Express for a goodwill credit through the store's online chat function, saying something like this:

Saks Fifth Avenue no longer participates in ShopRunner, which used to offer free two-day shipping. Now I have to pay a $9.95 shipping fee on orders under $300, which reduces the value of the up to $50 statement credit on my Amex Platinum offered every six months. Can I request a goodwill credit in the amount of $9.95 to offset this?

Finally, you may have to wait up to four weeks after an eligible purchase is charged to your card for a statement credit to be posted. That's because Saks typically won't charge your card until after your item(s) ship. This means waiting until the last minute to use this benefit may mean missing out on the statement credit due to potential shipping delays.

However, if you've made a qualifying purchase with plenty of time before the June 30 or December 31 deadline, you should receive your statement credit in an average of four days.

Related: How to maximize benefits with the Amex Platinum Card

Maximizing your Saks Fifth Avenue Amex credit

If you're not an avid Saks Fifth Avenue shopper, you might wonder how to best take advantage of this credit each year — especially since many items Saks sells are in the "outrageously expensive" category. Here's how to find the sweet spots and get the most out of this Amex Platinum benefit.

Know what to buy

Yes, Saks is home to $1,695 Gianvito Rossi knee-high boots and a $3,850 Givenchy bomber jacket (both a bit out of most people's price range). However, you can also find plenty of great items for under $50.

One of my favorite sunscreen primers, Unseen Sunscreen from Supergoop (an amazing travel primer if you'll be out in the sun), costs around $40 for a 3.4 fl-ounce bottle at Saks. You can also find products from popular makeup brands such as MAC and Benefit for less than $50.

If you have kids, you can use your Saks credit for many adorable kids' items, such as dresses, raincoats and shoes.

Take advantage of sales

If you watch for sales, you can score a great deal on Saks items that normally cost more than the up to $50 semi-annual statement credit. The Saks website has an entire section dedicated to sales items.

Like any department store, sale items can be hit or miss, but you can find excellent deals if you're patient. Even if you have your eye on a sale item costing more than $50, think of your Saks credit as a $50 coupon.

You can find all items currently $50 or less at this link.

Always use a shopping portal

Any time you shop online, start through a shopping portal to earn bonus points, miles or cash back on your purchase — in addition to your up to $50 Saks statement credit. Numerous sites operate as shopping portal aggregators, which compare rewards to see which portal makes the most sense for you to use.

Rakuten offers anywhere from 1% to 15% cash back (or 1-15 Amex points per dollar spent) on Saks Fifth Avenue purchases, depending on current promotions.

Bottom line

Whether you're obsessed with Saks Fifth Avenue or have rarely shopped there, you should take advantage of the up to $100 annual Saks credit that your Amex Platinum card offers.

If you're unfamiliar with the brand, it can be overwhelming to know how to maximize the credit (especially since it's broken into two up to $50 credits each year). However, these tips will help you find the best options to utilize the available statement credits.

To learn more, read our full review of the Amex Platinum.

Apply here: Amex Platinum

For rates and fees of the Amex Platinum, click here.