The Amex Platinum Card comes with lots of perks and among them there’s a few annual credits that help offset the $550 annual fee. There’s an annual airline fee credit, monthly Uber credits, and the recently added bi-annual Saks Fifth Ave credit. Let’s look at all three, and go over some ideas on how to use them up, if you have yet to do so.
Airline Fee Reimbursement
The personal Amex Platinum Card and the Business Platinum Card offer a $200 annual airline fee credit. This credit only applies to the airline that you select at the beginning of the year, before the end of January. If you’ve never done this, then you can register for an airline here. You can choose any of these airlines:
The airline credit can be used for baggage fees, change fees and food and beverage purchases on board. It also works on some gift card purchases, which makes it easier to use it up, especially this late in the year. I believe it’s safer to go for denominations of $100 or less. Personally I have chosen Southwest. I made a purchase of two $100 gift cards a couple of days ago, and received the credit within two days.
In 2019, Amex Platinum got Uber credits. You get a total of $200 every year. That’s $15 every month and $35 in December. You can use these credits for Uber rides, or even UberEats if you don’t plan to go anywhere today.
Saks Fifth Ave Credit
You can earn up to $100 in statement credits each year when you shop at Saks Fifth Avenue with your Platinum Card. That’s statement credits of up to $50 on a semi-annual basis. You get $50 for the first half of the year and another $50 for the second half. Make sure you enroll first in the benefits section in your Amex Platinum account.
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. Purchases at outlets and Off Fifth locations are not eligible for the credits.
While gift cards aren’t supposed to work, they do. You can purchase a $50 gift cards in-store at a Saks Fifth Avenue location. Online they do carry gift cards as well, but egift cards do not trigger the credit and physical cards start at $150. You can always use the credit to purchase merchandise.
- Men’s items under $50
- Women’s items under $50
- Jewelry and Accessories under $50
- Sale items under $50
The Amex Platinum Card has a $550 annual fee, so taking advantage of its perks is the only way to justify it. The signup bonus and lounge access is one of the main reasons to get the card, but these credits help make it affordable. If fully maximized, you get a total of $500 in credits, pretty close to the fee you pay. Yes, most people will not be regularly paying $30 for a pair of socks, but you get something so make sure you use the credits. And tomorrow, you can go for next year’s, or next month’s credits.