Update 07/02/18: Benefit is now live. If you have the Vanilla platinum it seems like the credit is posting after you make any purchase (even if it’s not at Saks Fifth Avenue). I suspect American Express will fix this issue and claw back the statement credits but who knows. Only seems to be happening on the Vanilla variation and not on the others.
The Benefit
In case you didn’t know American Express personal platinum cardholders are having a new benefit added on July 1st. You’ll receive a twice annual $50 credit to Saks Fifth Avenue, one from January 1st until June 30th and another from July 1st until December 31st. Keep in mind you can enroll now, but you can’t use the benefit until July 1st so no $50 credit for the first half of 2018 unfortunately. Unfortunately gift cards are excluded as rumored, more on the restrictions below.
The Fine Print
- Only the Basic Card Member or Authorized Account Manager(s) on a U.S. Consumer Platinum Card® Account can enroll in the benefit.
- 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
- 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 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.
Our Verdict
Gift cards being excluded make the benefit significantly less valuable for me as I don’t exactly shop at Saks Fifth Avenue on the regular. Keep in mind that’s just what the fine print states, gift card purchases might still work but I guess we won’t know for sure until after the end of July as it does say you need to allow two-four weeks for the statement credit to post.
Hat tip to View From The Wing
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Written by Doctor Of Credit @ https://www.doctorofcredit.com
Written by Doctor Of Credit @ https://www.doctorofcredit.com