Amex Platinum Saks Credit Gift Cards
Over the past couple of years American Express has sought to differentiate their flagship Platinum card by adding new benefits. Among the many benefits of that card are monthly/annual credits for airlines, Uber and even Saks.
The way the Saks benefit works is fairly simple. You get a $50 credit for spend at Saks during the first 6 months of the year and another $50 credit for spend during the final 6 months of the year. Many people have been able to take advantage of this by purchasing Saks gift cards in-store to either sell or use later.
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Amex Platinum Saks Credit Clawbacks Coming?
Unfortunately this practice may be over. According to Treyzian on Reddit, Amex may be clawing back Saks credits when a gift card was purchased. Here is what he/she reported:
Saks credit on Amex Plat reversed/clawed back for a GC purchase. I purchased GC in store back in July, and the credit posted as usual. I just noticed a charge on my card October 4:
Shop Saks with Platinum Credit $50.00
Additional Information: SAKS DIRECT #xxxxxxx
REVERSAL OF OPEN SAVINGS DISCOUNT
The same user reported their spouse/significant other purchased a gift card the same day and didn’t have their credit clawed back. This could be a manual process or perhaps this isn’t related to purchasing a gift card. We need more data points, but this doesn’t look good.
It appears that American Express may now be wising up to people purchasing Saks gift cards in-store in order to use their American Express Platinum Saks credit. Have you received a clawback of your Saks credit or do you have any other data points to share? Let us know in the comments!