In an unexpected move, American Express announced this week that Platinum cardholders will get a $100 credit on purchases from Saks Fifth Avenue each year. The catch for this offer is that the credit is offered as a $50 statement credit twice a year (once from July to December and another $50 from January to June). I thought the American Express Platinum card was worth the $550 annual fee with the travel credit, Global Entry credit, Uber credits and lounge access so an additional $100 credit per year is a welcome benefit. I still wanted to see how useful it was for me.
First things first, I need to sign up for the offer. I logged into my American Express account under my Platinum card. I had to hover over the MEMBERSHIP tab and clicked on the BENEFITS link.
Scrolling all the way to the bottom of the page, I found the tab for the link to the Saks credit.
I clicked on the GET STARTED tab and ended up at the enrollment page.
After clicking on the “I Understand” box and the ENROLL NOW tab, I was set up for the offer.
Free $50 bucks! Lets go on a shopping spree! What can I buy? I need a new pair of jeans. Maybe I can get a pair of Levis. Let’s go shopping.
I’m never gonna fit into skinny jeans, but Saks has normal sizes too.
Uh, the cheapest jeans they sell are $159 a pair??? Now I can see why they are willing to give $50 off a purchase. Maybe I can find something more in my price range.
Bathing suits for $37, that’s more my style. But I’ll still have $14 to spend. I’ll take the Calvin Klein Underwear for $9.
I feel like I’m on Wheel of Fortune and I’m running out of money claiming my prize (I tried to find a video of Wheel of Fortune but they’re all blocked on YouTube). Chuck, I guess I’ll have to take the other $5 on a gift certificate.
If you’re the type who actually reads the Departures magazine from American Express, you might actually buy the $650 Gucci sneakers.
For me, I’ll take the swimsuit and underwear that’s on sale and put the rest on my account.
While this benefit is nice, I would never shop there otherwise. Sure, I can find $50 worth of merchandise to buy from Saks every 6 months. I just wouldn’t do it if it wasn’t free money.
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