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Tis the season to be jolly and take advantage of absolutely mega deals hitting shopping portals and online retailers across the board. As I’m sure you’re well aware of… American Express Platinum cardholders get a $50 Saks Fifth Avenue statement credit every 6 months. I haven’t used mine yet, and typically wait until after Christmas, but this deal was just too good to pass up. Let’s walk through how I’m going to earn 20x points, use my Amex Platinum statement credit, and have more credit for post Christmas shopping.
American Express Platinum ( Learn more ) $100 annual credit
Every year you get $100 annually if you hold an Amex Platinum. This is a phenomenal time to make use of that credit.
Rakuten 16x deal at Saks – new members also get a $40 after spending $40
Rakuten has increased its earn rate to a whopping 16% back or 16x points. Remember you can opt in to earning Amex points en lieu of cashback. That’s my personal choice
If you don’t have a Saks Account you’ll get another 10% off your purchase – this is linked to your email address
Amex Offers 3x points at Saks
My Amex Platinum was targeted for an additional 3x points, totaling 4x on purchases up to $10k until 12/31/2020
Saks $75 gift card after $150 purchase
You could conceivably buy $200 worth of stuff and get the following
- 10% off $200, or $20 on your purchase price as a new member
- 20x points on the $180 purchase ( you wouldn’t earn on the 10% off ) or 3600 amex points
- $50 statement credit with Amex Platinum
- $75 gift card on your $180 purchase
- If you’re a new Rakuten member get $40 or 4k points.
That means for $130 out of pocket ( or $90 with Rakuten new member bonus ), you’d end up with $275 worth of Saks products and 7600 Amex Points which I’d say are worth over $150 which means you netted out way more than you spent.
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A Monkey Miles favorite for beginners and point pros alike because it earns unlimited 1.5x Ultimate Rewards with no annual fee.
♥ Earn 20k Bonus Points or $200 after $500 Spend in 3 months
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♥1.5x on all purchases, unlimited