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While The Platinum Card® from American Express is one of the most valuable travel rewards cards on the market, it requires a little bit of work to truly maximize it. That’s because the card comes with a massive $550 annual fee (see rates & fees), which is slowly returned to you over the course of the year in the form of statement credits for airline fees, Uber,and even purchases at select retailers.
If you currently have an Amex Platinum, it’s time to take advantage of one of the least talked-about benefits of the card — the $100 annual statement credit at Saks Fifth Avenue. You’ll receive a $50 statement credit for purchases made during the first six months of the year, and another $50 for purchases made between July 1st and December 31st.
Make sure to stack this with online shopping portals to earn bonus cash back or miles, and to keep an eye out for any sales our coupons Saks is offering. Right now, you can get free shipping on all orders with promo code FREESHIP, freeing up more of your $50 credit to make an actual purchase. If you frequently shop at Saks this discount will come in especially handy, but even if you don’t, it’s easy to find a few items under $50 you can get free and clear. If you search the sale section, you can even sort specifically for items under $50 (so you can bet I’ll be stocking up on a few t-shirts this week).
If you have The Business Platinum® Card from American Express instead of one of the personal versions, your semi-annual statement credit will get you $100 back on Dell technology purchases. When this benefit first launched, JT Genter was able to find thousands of items on sale for under $100 so be sure to check out this post if you need some inspiration (and don’t forget to go through a shopping portal!).
For more reading on the Amex Platinum please see:
- 10 Things to Do When You Get Amex Platinum
For rates and fees of the Amex Platinum card, click here.
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NEW INCREASED OFFER: 60,000 Points
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- No foreign transaction fees