Back in March 2017, Amex added two notable perks to The Platinum Card® from American Express — up to $200 in Uber credits each year and 5x points on hotels booked through Amex Travel. At the same time, the issuer increased the card's annual fee by more than 20%, from $450 to $550 per cardmember year (See Rates & Fees).
For customers who use Uber, $200 in credits could more than make up for that notable fee jump, but not everyone has access to the service, and you need to ride at least once a month to take full advantage. Frequent travelers can easily get $550+ out of The Platinum Card's numerous other perks, too, which range from a $200 annual airline fee credit to Centurion Lounge access, and are outlined in detail in this post. But any way you look at it, this card has a mighty high annual fee.
Now, online (and retail) shoppers have a benefit of their own to look forward to. In a bid to make the card even more valuable, Amex is partnering with Saks Fifth Avenue for a new program called "Shop Saks with Platinum."
Beginning July 1, cardmembers will be able to get up to $100 in credits per calendar year — one $50 credit will be available each January through June, while a second $50 will be up for grabs in the second half of the year. The benefit is fairly straightforward — there's no minimum spend requirement beyond the $50 — though you will need to first register here (beginning on July 1) to take advantage.
While Saks prices can easily exceed $1,000 for a single item, many are reasonably affordable, and the retailer runs frequent sales as well — $50 will hardly make a dent in the price of the ISAIA plaid suit above, but those New Balance sneakers will cost next to nothing after the rebate, tax and shipping fees. You can also boost your return by beginning your online adventure at an airline or credit card shopping portal — you'll find a full (clickable) list here.
All online and in-store purchases are eligible, and the discount applies to all US Platinum consumer cards — biz accounts won't get the credit, but all personal versions are included, ranging from the regular The Platinum Card from American Express to the Platinum Card from American Express for Mercedes-Benz. Credits will post in 2 to 4 weeks after making an eligible purchase.
For rates and fees of the Amex Platinum Card, please click here.
