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While The Platinum Card® from American Express is one of the most valuable travel rewards cards on the market, it requires a little bit of work to truly maximize it. That’s because the card comes with a massive $550 annual fee (see rates and fees), which is slowly returned to you over the course of the year in the form of statement credits for airline fees, Uber, and even purchases at select retailers.
If you currently have an Amex Platinum, it’s 2021, so now is the time to take advantage of one of the least talked-about benefits of the card — the $100 annual statement credit at Saks Fifth Avenue. You’ll receive a $50 statement credit for purchases made between Jan. 1 and June 30 and another $50 for purchases made between July 1 and Dec. 31.
Make sure to stack this with online shopping portals to earn bonus cash back or miles, to keep an eye out for any sales or coupons Saks is offering, along with Amex Offers. Right now, you can get free shipping on all orders with promo code FREESHIP, freeing up more of your $50 credit to make an actual purchase.
If you frequently shop at Saks, this discount will come in especially handy, but even if you don’t, it’s easy to find a few items under $50 you can get free and clear. If you search the sale section, you can even sort specifically for items under $50 (so you can bet I’ll be stocking up on a few t-shirts this week).
Related: 10 gifts you can buy using your Amex Platinum $50 Saks Fifth Avenue credit
If you have The Business Platinum Card® from American Express instead of one of the personal versions, your semi-annual statement credit will get you $100 back on Dell technology purchases. When this benefit first launched, TPG staffers were able to find thousands of items on sale for under $100 so be sure to check out this post if you need some inspiration (and don’t forget to go through a shopping portal!).
For more reading on the Amex Platinum, please see:
Related: How our cruise writer got $4,456 in value from his Amex Platinum in a year — even during the pandemic
For rates and fees of the Amex Platinum card, click here.
Featured photo by Wyatt Smith/The Points Guy
SPONSORED: With states reopening, enjoying a meal from a restaurant no longer just means curbside pickup.
And when you do spend on dining, you should use a credit card that will maximize your rewards and potentially even score special discounts. Thanks to temporary card bonuses and changes due to coronavirus, you may even be able to score a meal at your favorite restaurant for free.
These are the best credit cards for dining out, taking out, and ordering in to maximize every meal purchase.
Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.