Contrary to many other issuers recently cutting their card benefits (as can be seen here, here, and here), American Express just announced an expansion to the perks offered by the Platinum card. Now, as of July 1st, cardholders of personal Platinum-family cards will be able to utilize a 100$ shopping credit with Saks Fifth Avenue.
Similar to other credits with AMEX’s cards, the amount is not given as a lump sum but rather as two 50$ credits, made available every 6 months as follows:
- Come July 1st, Platinum cardholders will find a 50$ credit that they can activate and spend either in-person or online with Saks Fifth Avenue until December 31st.
- Then, on January 1st, you will have another credit for 50$, good until June 30th, 2019.
- All purchases except gift cards and in-store dining are included
- There is no minimum qualifying purchase amount and the credit does not have to be used all at once
- Activation of the benefit is required for each period and the credit is applied toward the statement 2-4 weeks after you put your purchase on the card.
- Click here for the complete rules and terms for this new benefit.
Note that you must use your Platinum card for the purchase and the Business version of the card does NOT qualify for this new benefit. If you are able to take full advantage of this, you net 100$ per cardmember year.
While certainly not earth-shattering, this benefit can be a nice fit for some and makes it that much easier to get your (hefty) annual fees’ worth out of Platinum products. For information about all the other benefits of carrying a Platinum card, including overview of all the Platinum-family products, as well as AMEX’s Membership Rewards program, see our in-depth review of their program.