Use them or lose them: Amex Platinum and Amex Business Platinum shopping credits reset on July 1

Jun 27, 2022

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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.

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It’s easy to carry the mindset of, “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 only have a few more days to make some purchases before your statement credits reset on July 1.

Your January through June statement credits (Saks Fifth Avenue credits for personal Platinum cardholders and Dell credits for U.S. purchases for Business Platinum cardholders) expire on July 1. So, let’s dive into these credits and how to use them before they reset.

Platinum Card: Saks Fifth Avenue credit

(Screenshot courtesy of Amex)

Along with many other benefits, the Amex Platinum — with its $695 annual fee (see rates and fees) — offers up to $100 in statement credits for purchases at Saks Fifth Avenue or 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 we’re near the final days of this credit, 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.

There are plenty of options that cost less than $50; here are some gift ideas to get started. Personally, I bought a new shirt with the $50 credit. To fully maximize your purchase, go through an online shopping portal — I suggest using a portal aggregator like Cashback Monitor to find the highest payout. A popular current offer is to earn 2% cash back or 2 Amex points per dollar spent when clicking through the Ratuken portal.

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

Business Platinum Card: Dell credit

The Business Platinum Card comes with up to $200 in statement credits between January and June and up to another $200 in statement credits between July and December for U.S. purchases with Dell on your card. Since we’re approaching the end of June, be sure to take advantage before the credits reset. The annual fee for the Business Platinum Card is $695 (see rates and fees).

Related: 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 Dell statement credit (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 Stella Shon.

Featured photo by John Greim/LightRocket/Getty Images.

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