Amex Platinum and Amex Business Platinum shopping credits will be reset soon

One important aspect of maximizing the credit cards you carry is taking full advantage of the travel credits and other statement credits they may offer. It’s rare to think “I’ll use that credit later,” thus delaying the use of your credits.

However, if you have Platinum Card® from American Express or Business Platinum Card® from American Expressyou have less than a month to make eligible purchases before your statement credits reset on Jan. 1 and you lose hundreds of dollars in credits that could help pay your card’s annual fee.

It’s important to note that these credits are use-it-or-lose-it benefits.

Here’s how these credits work and how to use them before they expire this year.

Platinum Card: Saks Fifth Avenue credit

Along with many other benefits, the Amex Platinum Card — with its $695 annual fee (see rates and fees) — offers up to $100 in statement credits on purchases at Saks Fifth Avenue or saks.com each year.

Early registration is required to take advantage of this benefit and credits are available up to $50 starting Jan. 1 to June 30 each year then credits up to $50 and from July 1 to Dec. 31.

We are approaching the last days to use these credits; if you haven’t made any relevant purchases, you should do so now.

The first step is to register for statement credits – or confirm that you are already registered – using this direct registration link Do this before your purchase. Then make your purchases using your Amex Platinum.

Another good use of your credits – especially if you don’t use them yourself – is to buy a gift for someone else as Christmas approaches.

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Related: 10 gifts you can buy using your Amex Platinum $50 Saks Fifth Avenue credit

Business Platinum Card: Dell Credit

The Amex Business Platinum Card does not have Saks shopping credits; instead, it offers up to $400 a year in Dell purchase statement credits. Business Platinum cardholders can earn up to $200 in cash from January through June and up to $200 in additional credits from July through December. Also, registration is required in advance. It is important to note that this loan is expected to expire on June 30, 2025.

The Business Platinum Card comes with up to $200 in statement credits between January and June and up to another $200 in statement credits between July and December for US Dell purchases on your card. As we approach the end of the year, be sure to take advantage before the credits reset.

Like the Saks statement credit for the Personal Platinum card, you’ll need to sign up for Dell statement credit (or verify that you’re already signed up) using this direct sign-up link. Be sure to register before your purchase, and remember, you may be able to get cash back or points by using an online shopping site.

There are plenty of items under $200 available on Dell’s website, many of which would make great holiday gifts – so you don’t need to buy a new computer to take advantage of this credit statement.

Related: More than just computers: I used my Amex Business Platinum Dell credit for a carry-on bag

Tips for using your credits

Register first

As mentioned above, you must register in advance before using these Amex Platinum and Amex Business Platinum shopping credits. If you do not register before making a purchase, you will not be eligible to receive a statement that includes your card credits.

A factor in shipping delays

Another way you can lose your credits is by waiting until the last minute and experiencing delays in shipping. In general, Dell and Saks Fifth Avenue will not charge your card until your items are shipped. Sometimes it can take up to 5 days from the date you order for your items to be shipped. That can cause problems if your items don’t ship before the credits are reset.

Here’s an example: Let’s say you buy an item from Dell on Dec 29th. Due to busy holidays and the weekend, your item doesn’t actually ship until Jan. 2. If that happens, you may be billed for your item in January 2025 and will use the credits in January-June 2025.

This means that you did not use the credits available in the second half of 2024 even if you placed your order in December 2024.

Waiting until the last minute to try to use your credits can pay off if the purchase can’t be processed quickly or if you can’t be charged until the shipping date of your item.

Understand what credit looks like

Since these Dell and Saks benefits are available as statement credits, you won’t see the discount displayed at checkout. Instead, you’ll buy at regular price and receive a statement credit from American Express a few days later, assuming your purchase is eligible.

Related: How long does it take to get statement credits from Amex, Capital One and Chase?

Maximize your purchases

To maximize your purchases, go through an online shopping portal or portal aggregator like Cashback Monitor to get the highest payout. You can also check the bonus earnings on the Ratuken portal (you can join Rakuten at this link).

Bottom line

Most credit card benefits reset at the end of each calendar year. That list includes use-it-or-lose-it benefits like Saks Fifth Avenue credits on the Amex Platinum card and Dell credits on the Amex Business Platinum card.

If you haven’t used these credits yet, you may be sitting on hundreds of dollars worth of credit statements. This can go a long way in lowering the annual fee on both the Business Platinum Card and the Platinum Card.

For more details, read our full Amex Platinum and Business Platinum reviews.

Apply here: Amex Platinum

Apply here: Amex Business Platinum

For Amex Platinum rates and fees, click here.
For Business Platinum rates and fees, click here.