Use Them or Lose Them: Amex Platinum and Business Platinum Shopping Credits Reset on July 1

Jun 26, 2020

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Editor’s note: This post has been updated with the latest credit card information.

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, today may be the day to make some purchases before your credits reset on July 1.

(Photo by The Points Guy)
(Photo by The Points Guy)

Today is the last day for January through June statements credits — Saks credits for personal Platinum cardholders and Dell credits for Business Platinum cardholders. So, let’s dive into these credits and how to use them before they reset.

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Platinum Card: Saks Fifth Avenue

Along with many other benefits, The Platinum Card — with its $550 annual fee (see rates and fees) — offers $100 in statement credits for purchases at Saks Fifth Avenue or saks.com each 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. As today is the last day of June, you’ll want to purchase some items from Saks on your Platinum Card if you haven’t made any eligible purchases so far this year.

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 options that cost less than $50; here are some family-focused ideas as well as some gift ideas. Personally, I bought a new shirt with the $50 credit. To fully maximize your purchase, go through an online shopping portal — I suggest checking Evreward or CashBack Monitor to find the highest payout.

Related reading: 10 gifts you can buy using your Amex Platinum $50 Saks Fifth Avenue credit

Business Platinum Card: Dell

The Business Platinum Card now comes with up to a $200 statement credit between January and June and up to another $200 credits between July and December for U.S. purchases with Dell on your Business Platinum Card. American Express doubled this credit as part of limited-time promotions for some of its U.S.-issued consumer and business cards affected by the coronavirus pandemic. Since today is the last day of June, today is the last day to make purchases that can be covered by the January to June credit.The annual fee for the Business Platinum Card is $595. See rates and fees.

Related reading: 10 items you can get for free with the Amex Business Platinum’s Dell statement credit

As with the Saks statement credit 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 you may be able to earn some cash back or points by going through an online shopping portal. Surprisingly, 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 rates and fees of the Amex Platinum, click here.
For rates and fees of the Business Platinum, click here.

Additional reporting by Benét J. Wilson

Featured photo by Robert Alexander/Getty Images

 

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