What the Saks Fifth Avenue Credit Card is
The Saks Fifth Avenue credit card is a store card issued by Saks Fifth Avenue in partnership with a bank. It works like any other credit card — you charge purchases, receive a monthly bill, and build a credit history with your payment record — but the rewards and benefits are tied specifically to shopping at Saks Fifth Avenue and its sister store Saks OFF 5TH.
There are two versions: the regular Saks Fifth Avenue card and the Saks Fifth Avenue Prestige card. The Prestige version has a higher annual fee but offers more rewards and perks. Both cards can be used only at Saks Fifth Avenue and Saks OFF 5TH locations and online, not at other retailers.
This is a store card, not a general-purpose card. If you want to earn rewards at other stores or restaurants, you would need a different credit card. But if you shop at Saks regularly, the rewards structure may make this card worth the annual fee.
Key Takeaways
- The Saks Fifth Avenue card comes in two versions — a standard card with no annual fee and a Prestige card with an annual fee that offers higher rewards rates.
- Both cards earn points on purchases at Saks Fifth Avenue and Saks OFF 5TH, but the Prestige card earns points faster and includes additional benefits like birthday bonuses.
- Points can be redeemed for statement credits toward future purchases at Saks, not transferred to other programs or converted to cash.
- Using a store card affects your credit score the same way a regular credit card does — through payment history, credit utilization, and the age of the account.
Rewards structure and earning rates
The standard Saks Fifth Avenue card earns points on every dollar spent at Saks Fifth Avenue and Saks OFF 5TH. The exact earning rate depends on your cardholder tier, which moves up as you spend more in a calendar year. New cardholders typically start at a base earning rate and move to higher tiers at spending thresholds.
The Prestige card has a higher annual fee but earns points at a faster rate across all spending levels. It also includes a points bonus just for being a cardholder, often given around your birthday or anniversary date. If you spend several thousand dollars per year at Saks, the Prestige card's higher earning rate may offset the annual fee.
Points do not expire as long as your account remains open and in good standing. However, if you close the account, you may lose any remaining points. Check your cardholder agreement for the exact terms.
How to redeem points and what they are worth
Points are redeemed as statement credits applied to your Saks card bill. You cannot convert them to cash, transfer them to airline or hotel programs, or use them anywhere except Saks Fifth Avenue and Saks OFF 5TH. The redemption value — how many points equal one dollar of credit — varies depending on the promotion running at the time.
Saks periodically runs bonus redemption events where your points are worth more. For example, during a bonus event, 100 points might be worth $1.50 in credit instead of $1.00. Watching for these events can stretch your points further, though you are not required to wait for them to redeem.
You redeem points through your online account or by calling customer service. The statement credit is usually applied within a few business days.
Annual fees and when they are charged
The standard Saks Fifth Avenue card has no annual fee. You can hold it indefinitely without paying anything, though you will only earn rewards when you use it to make purchases.
The Prestige card charges an annual fee, typically due on your account anniversary each year. Some versions of the card offer a statement credit or bonus points to offset part of the fee, so the net cost to you may be lower than the stated annual fee amount. Read the terms carefully to understand what you actually pay after credits.
If you close the card before the annual fee is charged, you will not owe it. If the fee posts and you close the account shortly after, most issuers will not refund it, so timing matters if you are on the fence about keeping the card.
How the Saks card affects your credit score
Opening a Saks Fifth Avenue card will trigger a hard inquiry on your credit report, which may lower your score by a few points temporarily. The new account itself will also lower your average account age, which is a factor in credit scoring. These effects are usually small and fade over time.
Once the account is open, your payment history becomes the biggest factor. Paying your bill on time every month helps your score. Carrying a high balance relative to your credit limit (high utilization) can hurt your score, even if you pay on time. Closing the account later will remove it from your active accounts, which may slightly lower your score if it was one of your older accounts.
The Saks card reports to the major credit bureaus just like any other credit card, so it builds your credit history the same way. If you are new to credit or rebuilding, using this card responsibly and paying it off monthly can help you establish a positive record.
Comparing the standard and Prestige versions
| Feature | Standard Card | Prestige Card |
|---|---|---|
| Annual Fee | None | Yes (amount varies) |
| Base Earning Rate | Lower | Higher |
| Birthday or Anniversary Bonus | No | Yes |
| Tier Advancement | Based on annual spend | Based on annual spend |
| Best For | Occasional Saks shoppers | Regular Saks shoppers |
The choice between the two depends on how much you spend at Saks each year. If you shop there only a few times per year, the standard card's lack of annual fee makes it the better choice. If you shop regularly and spend enough to reach higher tiers, the Prestige card's higher earning rate and bonus points may deliver more value than the annual fee costs.
You can also start with the standard card, track how much you earn in points, and switch to the Prestige card later if the math works out. Some cardholders do the opposite — they hold the Prestige card during heavy shopping seasons and downgrade when spending drops.
Frequently Asked Questions
Can I use the Saks card anywhere besides Saks Fifth Avenue?
No. The Saks Fifth Avenue card works only at Saks Fifth Avenue and Saks OFF 5TH stores and their websites. It cannot be used at other retailers, restaurants, or online merchants. If you need a card that earns rewards everywhere, you would need a different credit card.
What happens to my points if I close the card?
Points are typically forfeited when you close the account. Before closing, redeem any remaining points as a statement credit. Check your cardholder agreement for the exact policy, as terms can vary.
Does the Saks card offer a sign-up bonus?
Saks Fifth Avenue periodically offers sign-up bonuses for new cardholders, such as bonus points after your first purchase or a statement credit. These offers change frequently, so check the current offer when you explore. Not all cardholders receive the same offer.
Can I use my Saks card to pay bills or transfer a balance?
The Saks card is designed for purchases at Saks Fifth Avenue and Saks OFF 5TH only. You cannot use it to pay other bills, transfer balances from other cards, or get cash advances. If you need those features, a general-purpose credit card is a better fit.
How do I check my points balance?
Log into your online account through the Saks website or mobile app to view your current points balance. You can also call the customer service number on the back of your card. Your monthly statement will also show points earned and redeemed.