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How I'm saving $500 this January from a single credit card

Chris DongContributor
Chris was a reporter at The Points Guy, where he covered the intersection of credit card rewards and travel. At TPG, he wrote a broad array of stories ranging from in-depth features and reports to trending travel news as it related to loyalty, card benefits and consumer behavior.

January 8, 2021 • 7 min read

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Quick summary

Many premium cards have introduced limited-time shopping and dining credits to offset travel benefit limitations during the pandemic.
Cardholders can access monthly and biannual credits at select merchants, including food delivery, department stores and electronics retailers.
Some offers require enrollment and may be available only for a limited period, with additional perks like complimentary delivery memberships.
These benefits can provide significant value, sometimes exceeding the cost of holding a premium card even without travel.

What to consider

Some credits are split between calendar periods or require enrollment before use.
Certain offers are time-limited, with specific end dates and eligibility restrictions.
Delays in posting statement credits may occur, so monitoring your account and contacting support if needed is advised.

What you'll miss from the article

A detailed breakdown of how to maximize limited-time shopping, dining and merchant credits to offset premium card costs during reduced travel.

Generated by AI with support from our editorial team.

Update: Some offers mentioned below are no longer available. View the current offers here.

We're nearly a year into a pandemic that has crippled movement around the world. Therefore, it shouldn't come as a surprise that premium credit cards are simply hard to justify based on travel perks alone.

Thankfully, card issuers have taken note. An array of limited-time credits and bonuses can soften the blow of paying $450 or more in annual fees in the middle of a pandemic.

While not all cardholders have been so lucky, those with The Platinum Card® from American Express -- such as myself -- have received some lucrative offers over the past year. And in 2021, I'd argue those offers have gotten even better.

In fact, by the time January comes to an end, I will get more than $500 in value from my Platinum card. Yes -- $500 worth of products and services from a single card -- in one month. And I'll get even more out of my card the rest of the year, easily coming out ahead on the Platinum's $695 annual fee (see rates and fees).

How is this possible? Well, from recently announced Uber and Saks Fifth Avenue benefits, I'm using this month to shop for free (or nearly free).

Let's break down all the perks and freebies on the Platinum card that I'm taking advantage of to kick off the new year.

$15 with Uber (Up to $200 annual credit)

Next up, the up to $200 annual Uber credit is a benefit of the Platinum card. Thankfully, this is an easy-to-use perk with Uber Eats and Uber rides in the U.S. as eligible for reimbursement.

This month, I already used my $15 credit on a meal with Uber Eats. Platinum cardholders now also get an Uber Eats Pass as a complimentary benefit for a year* (must enroll by December 31, 2021), getting you unlimited deliveries with a $0 fee, plus 5% off orders over $15 at eligible restaurants (taxes and service fees may apply and do not count toward order minimum). Uber Eats Pass will auto-bill starting 12 months from initial enrollment in this offer, then at then-current monthly rate.

uber eats restaurants — (Photo courtesy Uber)

$50 with Saks (Up to $100 annual credit)

Another benefit on the Platinum card is an up to $100 annual Saks Fifth Avenue credit ($50 from January to June and another $50 in the second half of the year; enrollment required). While Saks is not a go-to shopping destination for me typically, I still find this perk valuable (but perhaps not at the full face value).

While you can use this $50 biannual credit any time between now and June, I needed some new accessories to brave New York City winter. I picked up a new pair of gloves and with taxes, I hit the required $50 threshold to trigger the credit.

$100 with Dell (Amex Offers)

Last year, Amex unveiled a $100 Dell credit for those with the personal Platinum card. Note that this is different from the ongoing benefit, up to $200 Dell credit that is on The Business Platinum Card® from American Express.

From now through Jan. 31, 2021, cardholders receive a one-time up to $100 statement credit after using your enrolled Amex to spend a minimum of $100.

I plan on ordering this $100 tote-and-backpack hybrid that can carry my 15" laptop and other tech necessities wherever I go. Plus, it has a minimalist (yet functional) style that I like -- and it also doesn't scream "Dell."

$400+ in free Amex offers

The next four deals are some of the latest Amex Offers that aren't just discounted; they're opportunities to buy things for free (or nearly free).

Now, for many cardholders, these merchants may not have been on your shopping list. That means the value of the offer may not quite match the dollar amount listed. However, you'd be surprised at the breadth of products available at stores such as Home Depot or Best Buy.

Also, note that many cardholders -- myself included for Home Depot -- are experiencing delays in getting credits to post to their account. Be sure to check your statement and live chat or call Amex if you don't see a statement credit after a week or two of the original charge.

Here's what I bought (or plan on buying) from the following merchants.

Home Depot ($50, up to 2x)

With indoor dining indefinitely closed -- and outdoor dining difficult in winter, -- I'm looking to make use of my kitchen more. That means I'm in the market for kitchen essentials, including an air fryer. These are items that I can easily buy at Home Depot to use the full $100 credit.

Best Buy ($50, up to 2x)

My January shopping spree continues. This time I'm in need of a new desk and floor lamp to brighten my apartment in the gray Northeast winter season. Thankfully, Best Buy has dozens of options.

Home Chef ($50, up to 3x)

I find the pricing of meal kit services such as Home Chef to be a bit on the pricier side (at least $9 per meal) but this is essentially free food thanks to the Amex Offer. With $150, you can easily get several weeks of ready-to-cook meals, along with recipes. The subscription can be paused or turned off at any time.

I don't value this promotion for the full $150, but even a partial valuation makes this offer more than worthwhile. And it aligns with my quest to cook more during the pandemic.

Wine Insiders ($30, up to 2x)

With the way 2021 has started off, many people could use a glass (or bottle) of wine. Here's an easy way to get several bottles for free. Note that any promo codes or shopping through a portal may negate this offer.

Bottom line

These are shopping offers and credits that are useful to me right now, and ones that I can take advantage of in the comfort of my home. After all, these are items I was planning on buying anyhow.

Notice that none of these perks above are travel-related. While the Platinum has an up to $200 annual airline fee credit, access to hundreds of airport lounges worldwide including crowd-favorite Centurion Lounges, elite status with both Marriott and Hilton and much, much more, I didn't include that here. Enrollment required for select benefits.

The fact of the matter is that I won't be using those perks in the weeks (and perhaps months) to come. However, I still can get incredible value out of my Platinum card now -- and hopefully, make serious use of the travel benefits later in 2021.

For rates and fees of the Amex Platinum card, click here.

Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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American Express® Gold Card

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at American Express's secure site.
Terms & restrictions apply. See rates & fees.

Rewards rate

Rewards rate
Rate	Category
4X	Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
4X	Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
5X	Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App™.
3X	Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App™, or purchased directly from airlines.
2X	Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App™ and cruises booked and paid through AmexTravel.com.
1X	Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.

Intro offer

As High As 100,000 points. Find Out Your Offer.

Annual fee

$325

Regular APR

See Pay Over Time APR

Recommended credit

Excellent to Good

Pros + cons

Pros

Valuable dining and food-related credits
Flexible rewards with airline and hotel transfer partners
Multiple travel and purchase protections
No foreign transaction fees
Access to Amex Offers for additional savings (enrollment required)

Cons

Not as useful for those living outside the U.S.
Some may have trouble using Uber and other dining credits

More details

You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App™.
Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App™, or purchased directly from airlines.
Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App™ and cruises booked and paid through AmexTravel.com.
Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
$120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
$100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
$84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
$120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
Enjoy complimentary Hertz Five Star® Status benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
Book two nights or more with The Hotel Collection through AmexTravel.com or the Amex Travel App™ and receive a $100* credit towards eligible charges at over 1,400 upscale hotels worldwide. *Eligible charges vary by property.
Book your travel through the Amex Travel App™ with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
No Foreign Transaction Fees.
Annual Fee is $325.
Terms Apply.