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Those with credits to use at Saks Fifth Avenue may want to shop today as shopping portal Rakuten is offering 10% back / 10x Amex Membership Rewards points on Saks purchases today, which is the best payout we’ve seen for months at Saks.
The Deal
- Rakuten is offering 10% back / 10x Membership Rewards points at Saks Fifth Avenue today.
- Direct link to this deal
If you’re new to Rakuten
If you’re new to Rakuten, there is a current referral promotion to get $30 back when you sign up and spend $30 or more within 90 days. Feel free to use one of our referral links with our thanks.Tim’s Referral Link
Greg’s Referral Link
Stephen’s Referral Link
Nick’s Referral Link
For more detail about setting your earning preference with Rakuten, see Rakuten (formerly Ebates): now change from cash back to Membership Rewards points.
Key Terms
- Cash Back is not available on the purchase of gift cards or orders placed using a Saks associate discount.
Quick Thoughts
Saks Fifth Avenue has some popularity in the rewards card community because the consumer versions of the Amex Platinum card offer a statement credit of up to $50 twice per year, once from January to June and once from July to December. Since I am typically looking to stay right around or just under $50 spent, I tend to choose when to shop based on when I see a good deal on something I want or need.
That said, there are some “essentials” we always consider buying from Saks in case we can’t find a better use of a credit (I use a Jack Black shaving oil that doesn’t seem to be in stock right now, but Saks usually carries; similarly, they have lotions / perfume / cologne that we would likely buy for around the same price elsewhere). If I were going to use a credit for something that I would be likely to buy either way, I would consider doing it today thanks to the chance to get a bit more back (and even more so if I had bought a gift card or two in-store previously and I was looking at a larger purchase).
That said, we are about to head into the busy shopping season over the next couple of months. While we haven’t seen portal rates for Saks exceed 4% over the past four months, we did see rates in the range of 10% to 15% / 15x during November 2022 according to the Cashback Monitor 15-month history. Also note that we have sometimes seen even better targeted cash back offers from Capital One Shopping, though Saks is the one retailer where I’ve had some issues with rates not tracking properly. Since I’m not in a rush to use a credit today, I will probably hold off until November and hope to see a better rate and/or a better deal on some products I’ve been eyeing.
H/T: Frequent Miler Insiders Facebook group
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Picked up 4 red wine glasses for $1.94 out of pocket (after the $50 credit, including tax and shipping). Plus got 400 Amex MRs in the process. I’ll call that a small win.
Why on earth are you still wearing that silly thing on your face?
It’s an old picture.
And my mom made that “silly thing”. No need to be rude.
i see the 10x back. but where do you see 10x points? i dont see it in my amex membership portal.
you can opt to get MR from Rakuten instead of cash back
See this part of the post Jen:
For more detail about setting your earning preference with Rakuten, see Rakuten (formerly Ebates): now change from cash back to Membership Rewards points.
Shipping kills the deal
Definitely stinks. I forgot that they reinstated that. That said, I can’t imagine finding much in-store for less than $50, and for those of us who don’t live anywhere near a store, shipping is just part of the calculation now.
I just went to order something. They now charge for shipping? Any way to dodge the shipping fee?
Nope.
https://frequentmiler.com/no-more-free-shipping-on-cheap-saks-orders/
Free shipping and returns on orders over $100. Just order stuff to return and keep you net order over $50 after you’re done.