For those of you not familiar with Amex Offers, it’s a program available through most Amex cards, where different cards are eligible for different savings and bonus offers. In many cases the offers can be huge, and more than offset the annual fee on a card.
To view Amex Offers, go to the bottom of the account summary page of any American Express card, where you’ll see all the offers you’re eligible for. These offers come in different forms, including discounts and even in some cases bonus points.
There’s a new targeted Amex Offer for Saks Fifth Avenue, valid for purchases through April 30, 2018. This offer is similar to other Amex Offers we’ve seen in the past.
There are two versions of this offer. The first version (which is mostly available on cards not earning Membership Rewards, like the Starwood Preferred Guest® Credit Card from American Express and Hilton Honors American Express Surpass® Card) offers $50 off a purchase of $250 or more.
The second version (which is mostly available on cards earning Membership Rewards points, like The Platinum Card® from American Express and The Amex EveryDay® Credit Card from American Express) offers 5,000 Membership Rewards points after making a purchase of $250 or more.
That latter value is definitely better. I value Membership Rewards points at 1.7 cents each, so to me those 5,000 points are worth $85, which is the equivalent of a return of about a third on your purchase.
The promotion is valid for purchases online or in-store, and you can make one or multiple transactions to reach the total. Let me once again stress that this promotion is targeted, so not everyone will see this offer on their account.
You can also stack this promotion with shopping portal bonuses. For example, the American AAdvantage eShopping portal is offering 5x points on Saks purchases, plus they have a promotion for 500 bonus miles when you spend $150+ (that ends today). So if you made a $250 purchase you’d earn 5,000 Amex Membership Rewards points and 1,750 American AAdvantage miles. Together I value those at ~$110, which is nearly a 45% return on such a purchase.
However, I never buy anything at Saks, so why am I excited at the prospect of this promotion? Because most of the major high end department stores (Bloomingdale’s, Neiman Marcus, Nordstrom, Saks Fifth Avenue, etc.) have standardized pricing for big brand items. For example, whether you’re looking for perfume or skincare products or candles or many clothing items, you’ll pay the same for a specific brand no matter where you buy it.
If you’re someone who is at least a semi-frequent customer of high end department stores, this is an opportunity to get a significant discount on a purchase.
(Tip of the hat to Frequent Miler)