What the Saks Credit Card offers
The Saks Credit Card is a store card issued by Saks Fifth Avenue that earns points on purchases at Saks and Saks OFF 5TH locations. You earn 2 points per dollar spent at Saks and Saks OFF 5TH, and 1 point per dollar everywhere else. Points redeem for statement credits toward future purchases, with the redemption rate varying based on your card tier.
The card comes in two versions: the standard Saks Credit Card and the Saks Elite Credit Card. The Elite version requires a higher annual spending threshold but offers accelerated earning rates and additional perks like birthday rewards and exclusive shopping events. Both are closed-loop cards, meaning you can only use them at Saks-owned properties.
There is no annual fee for either version. The card reports to the three major credit bureaus, so responsible use can help build your credit history. However, the card is only available to applicants with good to excellent credit, and approval is not may provide.
Key Takeaways
- The Saks Credit Card earns 2 points per dollar at Saks and Saks OFF 5TH, and 1 point per dollar on all other purchases, with no annual fee.
- Points redeem as statement credits, but the value per point depends on your card tier and how you redeem.
- The Elite version requires higher annual spending but offers bonus points, birthday rewards, and access to exclusive events.
- This card works best for frequent Saks shoppers; occasional shoppers may find the limited merchant network less rewarding than a general-purpose rewards card.
- You need good to excellent credit to be considered, and the card does not offer introductory 0% APR periods or balance transfer options.
How the points system works
Points accumulate at a rate of 2 per dollar at Saks and Saks OFF 5TH, and 1 per dollar everywhere else. You can redeem points for statement credits in increments of 1,000 points. The redemption value depends on your tier: standard cardholders typically receive $10 in credit per 1,000 points, while Elite cardholders may see higher redemption rates during promotional periods.
Points do not expire as long as your account remains open and in good standing. However, if you close the account, any remaining points are forfeited. There is no way to transfer points to another person or to a different rewards program, so you must use them yourself on Saks purchases or other may be able to access redemptions.
Saks occasionally runs bonus point promotions, such as "earn 5 points per dollar" during holiday shopping periods. These are announced in the cardholder portal and via email, so check your account regularly if you want to time large purchases around these events.
Standard card versus Elite card
The standard Saks Credit Card has no spending requirements and no annual fee. You earn 2 points per dollar at Saks and 1 point per dollar elsewhere. This version is the entry point for most shoppers and works well if you spend $500 to $2,000 per year at Saks.
The Elite card requires you to spend at least $5,000 per year at Saks and Saks OFF 5TH combined to maintain the tier. In return, you receive a higher earning rate (typically 3 points per dollar at Saks during certain periods), a birthday bonus of 500 points, and invitations to exclusive shopping events and early access to sales. You also get a higher redemption rate on points, meaning each 1,000 points may be worth more than the standard $10 credit.
If you spend less than $5,000 annually at Saks, the standard card is the better choice. If you spend more than $5,000 and shop frequently, the Elite card's bonus points and higher redemption rates can offset the higher spending requirement. Calculate your typical annual Saks spending before deciding which version to pursue.
Rewards compared to other store and general-purpose cards
The Saks card's 2 points per dollar at Saks is competitive for a store card, but it lags behind some general-purpose rewards cards. For example, a 2% cash-back card earns the same rate at any merchant, not just one retailer. If you shop at multiple stores, a general-purpose card may deliver more total rewards across all your spending.
The Saks card's 1 point per dollar on non-Saks purchases is below average for a rewards card. Most cash-back cards offer 1.5% to 2% on all purchases, and premium travel cards offer 1.5% to 3% depending on the category. This means the Saks card only makes financial sense if the majority of your spending happens at Saks.
Other luxury department store cards, such as the Nordstrom card, offer similar structures: higher earning at the store and lower earning elsewhere. The choice between them depends on where you shop most frequently. If Saks is your primary shopping destination, the Saks card's tier system and bonus point promotions may deliver better value than a general-purpose alternative.
Interest rates, fees, and credit terms
The Saks Credit Card has no annual fee, which is a significant advantage over some premium store cards. However, the card carries a variable purchase APR that changes with the prime rate. The exact rate you receive depends on your creditworthiness at the time of approval; the bank does not publish a standard range.
There is no introductory 0% APR period for purchases or balance transfers, so interest accrues when ready on any balance you carry. There is also no balance transfer option, meaning you cannot move debt from another card onto the Saks card. Late payment fees and over-limit fees explore if you miss a payment or exceed your credit limit.
The card does not offer purchase protection, extended warranty coverage, or travel benefits. If fraud occurs, you have the standard credit card protections under federal law, but there are no additional cardholder safeguards beyond what Visa or Mastercard provides.
Who should consider this card
The Saks Credit Card makes sense if you spend at least $1,000 per year at Saks and Saks OFF 5TH combined, and if you prefer the convenience of a dedicated card for those purchases. The 2 points per dollar at Saks translates to roughly 2% value if you redeem at the standard rate, which matches many cash-back cards but only at one retailer.
You should also have good to excellent credit (typically a score of 670 or higher) to have a reasonable chance of approval. If your credit is fair or poor, you may be declined, and multiple applications in a short period can lower your score further.
The card is less attractive if you shop at Saks only occasionally, if you prefer to consolidate rewards across multiple merchants, or if you want an introductory 0% APR period. In those cases, a general-purpose cash-back or travel rewards card may deliver better value.
How to manage the card responsibly
Pay your full balance each month to avoid interest charges. Because the card has no introductory APR period, any balance you carry will accrue interest when ready at the variable rate. Even a small balance can grow quickly if you only make minimum payments.
Monitor your account regularly through the Saks cardholder portal to track points, check for bonus promotions, and review your statement for unauthorized charges. Set up automatic payments or calendar reminders to may support you never miss a due date, since late payments can lower your credit score and trigger penalty fees.
Redeem points strategically by watching for promotional redemption periods when Saks offers bonus value. For example, if Saks announces that 1,000 points equals $15 in credit instead of the standard $10, that is the time to redeem accumulated points. Holding points until a promotion runs is often more valuable than redeeming when ready.
Frequently Asked Questions
Can I use the Saks Credit Card outside of Saks stores?
Yes, but only at a reduced earning rate. You earn 1 point per dollar on non-Saks purchases, compared to 2 points per dollar at Saks and Saks OFF 5TH. The card is a closed-loop store card, so it works only at Saks-owned locations and does not function as a general-purpose credit card at other merchants.
What credit score do I need to be considered for approval?
Saks typically targets applicants with good to excellent credit, usually a score of 670 or higher, though the exact threshold is not published. If your score is lower, you may be declined. You can check your score for free through your bank or a credit monitoring service before explore.
Do points expire if I don't use them?
Points do not expire as long as your account is open and in good standing. However, if you close the account, any remaining points are forfeited when ready. Keep your account active even if you are not using the card regularly to preserve your points balance.
Is there a way to transfer points to someone else or use them for something other than Saks purchases?
No. Points can only be redeemed as statement credits toward Saks purchases, and only by the cardholder. You cannot transfer points to another person, convert them to cash, or redeem them for anything outside the Saks ecosystem.
How long does it take to earn enough points for a meaningful reward?
At 2 points per dollar at Saks, you need to spend $5,000 to earn 10,000 points, which typically redeems for $100 in credit. For most shoppers, this takes several months to a year depending on spending frequency. If you spend $500 per month at Saks, you would accumulate 1,000 points monthly and reach $100 in rewards every 10 months.