The $550 Annual Fee on AmEx Platinum can be justified by its annual $100 in Saks 5th bonus, $200 in Airline Bonus, $200 in Uber bonus, airport lounge access, and $100 for Global Entry. For active duty military and reservists the $550 fee is waived meaning the card actually pays you $600 in bonuses each year! Use my link here if you don’t already have the card.
I bought $50 worth of goods at Saks using the SOP here and got the $50 credit from AmEx today. It only took two days to post the charge, the ordered was delivered after 3 days via shop runner, and then 3 more days to get the credit! I also went for the free gift wrap, and it looks amazing!
Note that the items ordered are reported to AmEx, so they must be keeping track of if you buy a gift card or merchandise. Also note that gift cards are ineligible for the credit:
The Saks AmEx offer even works when you spend less than $50:
On top of that I got 4% cashback on Ebates for the order minus tax:
This was on my Ameriprise Platinum Card, and on my Morgan Stanley card as well. Please use my link here If you are trying to get your first platinum card, consider getting the Green AmEx card today and upgrading to another Platinum in a year if you want to double did this offer.
Make sure you remember doing all of this again in January!