The Offer
- Get a one time $100 statement credit when you spend a minimum of $450+ in one or more transactions in-store at Saks Fifth Avenue or online at saks.com by December 31st, 2016
The Fine Print
- Valid until December 31st, 2016
- Excludes restaurants location within the store, online bill pay for Saks Credit and corporate gift cards
- Not valid at outlet locations (in store and online)
Our Verdict
Saks Fifth Avenue gift cards are currently selling for 83% of face value. If you purchase $450 in gift cards then you could resell this for $373.5 with a profit of $23.5 per card that has this offer (this doesn’t include any points/cash back you’d earn on the card as well – I expect rates to slightly drop though. Last year it dropped to 81% after a similar offer).
As far as I know no portals are currently earning cash/points back on Saks Fifth Avenue purchases, but it probably doesn’t hurt to go through a portal and hope for the best anyway (best rates here). If you’re new to amex offers or have any questions, please consult this post first. We also already briefly discussed this offer here, thought it was worth it’s own post due to the resale angle.
Any update on whether or not this worked for those buying as e-cards? I was hoping to buy a few last minute and get in before the 12/31 deadline but if it’s going to be a hassle with cancellations then it’s not worth my time.
I’ve been thinking about it as well, but haven’t bothered because of all the stories of cancelled orders and now I’d be worried that they would just hold off until tomorrow to allow the orders to go through or some such shenanigans.
Physical cards worked well for me. E-card got cancelled.
The last four gift card orders from saks had the same issue for $200 GCs. These gift cards were inactive and calling them is a pain with long holding time. The issue has not been fixed yet.
Does anyone know if buying physical GCs at Saks Off 5th stores will trigger the credit. I tried placing order online but it got cancelled after a day just like others. So, thought of buying physical GCs at store. Appreciate any insight.
It’ll work at Saks. Not sure about Off Fifth – that is likely coded differently.
I tried ordering again after I updated my address on Amex and on Saks end. Got a cancellation this morning. What is annoying is my girlfriend ordered and got hers shipped. I’m giving up on getting it to work.
Same as everyone. Cancelled. Both e and physical GC. Couldn’t ever even get through to Saks. Called Amex, they were like, yes, we approved it; it’s on Saks’ end.
Same issue with the cancellations – ordered on Nov 29th and all 3 orders were cancelled
Anyone who ordered last night got their egift cards yet?
I ordered 2 during the day yesterday and received one last night and one today. No portal tracking confirmations yet though 🙁
I just got a cancellation notice from Saks saying they could not get authorization from American Express…..
I got the same and don’t really believe it. I got an email from Amex on my plat saying large purchased approved right after ordering.
+1
Same. Order cancelled.
An update: I called Amex and they said it was approved. Called Saks and they claim it is because my address didn’t match what Amex had.
discover is, although not quite relevant. 10% plus 5% quarterly (both saks and off 5th) so 15%, doubled to 30!
I had troubles with getting the purchase to load but it eventually went through last night. Got a confirmatory email about the purchase from Saks, and from AMex about using the offer on my card. But as of now, almost 24 hours later, still no e-gift card. The tracking on the order says it is “in process” I suspect their system could not handle all the traffic
Saks website “shipping information” for my order has recently changed from “processing’ to “cancelled” and I’ve never received the gift card. Trying to call Saks is an ordeal, long hold time, and no real answer “cancelled by security” and I have to wait for Security to call me in the next several hours to discuss.
Now have an email from Saks saying order was cancelled because AmEx couldn’t verify my payment. This is not the case according to AmEx.