A few days ago I wrote about how The Platinum Card® from American Express is adding an awesome new benefit, called “Shop Saks with Platinum.” As of July 1, 2018, the Amex Platinum Personal Card will offer a $100 annual credit for Saks purchases — this will come in the form of a $50 credit that can be used between January and June, and a $50 credit that can be used between July and December.
To be eligible you’ll just have to charge your eligible purchase (either in-store or online) to the registered card, and then within 2-4 weeks you’ll receive a statement credit for up to $50 per period.
Originally registration for this benefit was only supposed to open on July 1, 2018 (when the benefit starts), though it looks like it has opened early. You can now register for the Amex Platinum Card $50 Saks credit. If you have issues with logging in the first time, try again, and it should work.
Registration is really easy. Once you’re logged into your Amex account, you can register with just one click, by agreeing to the terms & conditions.
You’ll then be brought to a page confirming your registration.
Below I’ll copy the full terms & conditions. I’d note that the terms indicate that Saks Fifth Avenue gift card purchases, as well as purchases at outlets, don’t count towards the credit. Otherwise the terms are mostly what you’d expect:
Only the Basic Card Member or Authorized Account Manager(s) on a U.S. Consumer Platinum Card® Account can enroll in the benefit. Eligible purchases must be charged to the enrolled Card Account for the benefit to apply. Purchases by both the enrolled Basic Card Member and Additional Card Members on the eligible Card Account are eligible for statement credits. However, each Card Account is only eligible for up to a $50 statement credit from January through June and up to a $50 statement credit from July through December for a total of $100 per calendar year in statement credits across all Cards on the Account. Valid at Saks Fifth Avenue online or at locations in the US and US Territories. Not valid on Saks Fifth Avenue Gift Cards or purchases at outlet locations (in stores and online). Excludes purchases at restaurants located within the store and Online Bill Pay for Saks Credit. Not valid on online purchases shipped outside of the US. Please allow 2-4 weeks after an eligible purchase is charged to your Card Account for statement credit(s) to be posted to the Account. Please call the number on the back of the Card if statement credits have not posted after 4 weeks from the date of purchase. Note that American Express may not receive information about your eligible purchase from merchant until all items from your eligible purchase have been provided/shipped by merchant. Statement credit may be reversed if the eligible purchase is returned/cancelled. If American Express does not receive information that identifies your transaction as eligible for the benefit, you will not receive the statement credit. For example, your transaction will not be eligible if it is not made directly with the merchant. In addition, in most cases, you may not receive the statement credit if your transaction is made with an electronic wallet or through a third party or if the merchant uses a mobile or wireless card reader to process it. To be eligible for this benefit, Card Account(s) must be not canceled and not past due at the time of statement credits fulfillment. If a charge for an eligible purchase is included in a Pay Over Time feature balance on your Card Account, the statement credit associated with that charge may not be applied to that Pay Over Time feature balance. Instead, the statement credit may be applied to your Pay In Full balance. For additional information, call the number on the back of your Card.
There are already so many great benefits to the Amex Platinum Card, and this is just the icing on the cake. While the card has a $550 annual fee, it comes with a $200 annual airline fee credit, $200 annual Uber credit, Amex Centurion Lounge access, Delta SkyClub access, a Priority Pass membership, and more.
Given that you can’t use this credit to buy gift cards (and therefore build up the credits over time to use towards a bigger purchase), I’d say that I value the combined $100 annual credit at about $50. Still, that’s a nice addition to a card I already find to be worthwhile.