Update: The offer mentioned below has expired and is no longer available, however, the credit resets and is available again from July 1 through December 31.
Each year, those with The Platinum Card® from American Express receive 2 separate $50 statement credits for Saks Fifth Avenue — one of which can be used between January and June, and the other from July through December.
It’s hard to believe, but the end of June is upon us, so we’re nearing the final days to use the first Saks credit of the year. If you haven’t used it already, here’s a reminder on how to do so, as well as some tips for maximizing it.
Amex Platinum Card Saks Credit Deadline and How To Activate
The deadline to use your first $50 Saks Fifth Avenue statement credit is June 30, 2022. As long as your transaction has been made by that date, you should still receive your $50 statement credit, even if the transaction doesn’t fully post for a few days after that. Keep in mind that American Express says it can take 2 to 4 weeks for your $50 statement credit to post to your account, but it our experience, it usually posts a few days after your transaction does.
Your credit is valid at Saks Fifth Avenue online or at locations in the U.S. and U.S. territories. It is not valid on Saks Fifth Avenue Gift Cards or purchases at Saks OFF 5TH Avenue locations and saksoff5th.com.
As with many benefits on your Amex Platinum card, you must enroll your card in the benefit before it becomes active and eligible for use. To activate your Saks credit, log into your American Express account, click on the Benefits tab, and then click the Shop Saks With Platinum tile to activate your credit. While you receive 2 $50 credits each year, you’ll only need to activate the credit once for all future uses.
How To Stack Your Saks Credit for Extra Rewards or Savings
Before running off to Saks to use your $50 statement credit, it is good to do a little leg work first to see if you can save yourself some more cash or earn some extra Membership Rewards points while you’re at it.
One source you should regularly check is the Amex Offers on your Amex Platinum card as these can be a great opportunity to earn some extra rewards on purchases you were planning on making anyways — including Saks Fifth Avenue purchases.
Another great option is the check the popular shopping portal Rakuten, as you can almost always score some extra cash-back or Amex Membership Rewards points (for qualified accounts) on your purchases at Saks Fifth Avenue.
As of this writing, you can earn an extra 2% back, or 2x Membership Rewards points per $1 spent, on your Saks Fifth Avenue purchase — even on one that’s being credited back to you. That said, we’ve also seen the Saks cash-back on Rakuten range all the way up to 15% back or 15x Membership Rewards points per $1 spent, so be sure to look out for those opportunities.
Hot Tip: Read our guide on the Amex Platinum card’s full list of perks and benefits so you can better know how to maximize your card!
If you’re planning to take advantage of your $50 Saks Fifth Avenue statement credit, your last day to do so is June 30, 2022. However, before you do, you should check your Amex Offers and Rakuten to see if you can save yourself more cash or earn some additional Amex Membership Rewards points — or both!
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Bradbury/Caia Image via Adobe Stock