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Back in March 2017, Amex added two notable perks to The Platinum Card® from American Express — $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.

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.

Featured image by NoDerog / Getty Images.

The Platinum Card® from American Express

The American Express Platinum card has some of the best perks out there: cardholders enjoy the best domestic lounge access (Delta SkyClubs, Centurion Lounges, and Priority Pass), a $200 annual airline fee credit as well as up to $200 in Uber credits, and mid-tier elite status at SPG, Marriott, and Hilton. Combined with the 60,000 point welcome offer -- worth $1,140 based on TPG's valuations -- this card is a no-brainer for frequent travelers. Here are 5 reasons you should consider this card, as well as how you can figure out if the $550 annual fee makes sense for you.

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More Things to Know
  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Up to $200 for Uber rides annually. Credit and Uber VIP status available to Basic Card Member only.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards® points on eligible hotels booked on amextravel.com.
  • As a Platinum Card Member, you can enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees
Intro APR on Purchases
N/A
Regular APR
N/A
Annual Fee
$550
Balance Transfer Fee
See Terms
Recommended Credit
Excellent/Good
Terms and restrictions apply. See rates & fees.

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