What the Saks Fifth Avenue Credit Card Does
The Saks Fifth Avenue credit card is a store card issued by Saks Fifth Avenue and Synchrony Bank. It works like any other credit card — you charge purchases, receive a monthly bill, and pay interest if you carry a balance. The main difference is that it offers rewards and discounts specific to shopping at Saks Fifth Avenue and Saks OFF 5TH, the company's outlet stores.
You can use the card only at Saks Fifth Avenue and Saks OFF 5TH locations and online. You cannot use it at other retailers. The card comes in two versions: the regular Saks Fifth Avenue card and the Saks Fifth Avenue Prestige card, which has higher annual spending thresholds but also higher rewards.
The card does not charge an annual fee. However, like all credit cards, it charges interest on balances you do not pay in full each month. The interest rate (called the APR, or annual percentage rate) depends on your credit history and is set by Synchrony Bank when you open the account.
Key Takeaways
- The Saks card earns points on every purchase at Saks Fifth Avenue and Saks OFF 5TH, with bonus points during promotional periods.
- Cardholders receive a birthday bonus and early access to sales, but the card works only at Saks locations and cannot be used elsewhere.
- You need decent credit to be approved — typically a credit score of 670 or higher, though Synchrony does not publish exact requirements.
- The card charges interest on unpaid balances and offers promotional financing periods on large purchases, which revert to regular APR if not paid off in time.
- The Prestige version requires higher annual spending but offers more points per dollar and additional perks like free alterations.
How Points and Rewards Work
The regular Saks card earns points on every dollar you spend at Saks Fifth Avenue and Saks OFF 5TH. The exact earning rate varies — typically you earn 1 point per dollar on most purchases, with bonus point promotions during certain months or on specific categories. Saks runs seasonal promotions offering double or triple points, which they announce in the mail and on their website.
Points convert to statement credits once you reach a threshold. For example, 500 points might equal a $50 credit toward your next purchase. The conversion rate and point thresholds change periodically, so check your cardholder agreement or call Synchrony to confirm the current terms.
Beyond points, the card includes a birthday bonus (usually extra points or a discount code in the month of your birthday) and early access to Saks sales before they open to the general public. Cardholders also receive promotional financing offers — for instance, 12 months interest-free on purchases over a certain amount, though interest accrues retroactively if you do not pay the full balance by the end of the period.
The Prestige Card and Higher Spending Tiers
The Saks Fifth Avenue Prestige card is designed for customers who spend more than $5,000 per year at Saks. It earns more points per dollar (typically 2 points per dollar instead of 1) and includes additional benefits like free standard alterations, complimentary personal shopping services, and invitations to exclusive Saks events.
You do not automatically move to the Prestige card. Saks invites customers to upgrade based on their annual spending. Once you reach the spending threshold, you can request the upgrade, or Saks may offer it to you directly. The Prestige card also has no annual fee.
The higher earning rate means that if you spend regularly at Saks, the Prestige card accumulates rewards faster. However, it only makes financial sense if you actually use the additional perks or if the extra points offset the higher spending requirement.
Credit Requirements and how the process works
Synchrony Bank issues the Saks card and sets the credit standards. The bank does not publish a minimum credit score, but most cardholders have a score of 670 or higher. If your score is below 650, approval is unlikely. If it is between 650 and 670, approval is possible but not may provide.
You can explore online at Saks.com, in a Saks store, or by phone. The process takes about 10 minutes and asks for your name, address, income, employment status, and Social Security number. Synchrony will pull your credit report (called a hard inquiry) to make a decision, which temporarily lowers your credit score by a few points.
You will receive a decision within minutes if you explore online or by phone. If approved, your card arrives in the mail within 7 to 10 business days. If denied, Synchrony will send you a letter explaining the reason and your right to dispute the decision.
Interest Rates and Fees You Should Know
The Saks card charges no annual fee. However, it does charge interest on balances you carry from month to month. The APR (annual percentage rate) varies based on your creditworthiness and is disclosed in your approval letter and cardholder agreement. Typical APRs range from 18% to 27%, though some customers with excellent credit may receive lower rates.
If you carry a $1,000 balance at 22% APR and pay only the minimum, you will pay roughly $220 in interest over a year. This is why paying your full balance each month is the most cost-effective way to use any credit card.
The card also offers promotional financing — for example, 12 months interest-free on purchases of $500 or more. If you do not pay the full promotional balance by the end of the period, interest accrues retroactively on the entire original purchase amount, not just the remaining balance. This means a $1,000 purchase with 12 months interest-free becomes very expensive if you pay only $900 by month 12.
When the Saks Card Makes Sense
The Saks card is worth considering if you shop at Saks Fifth Avenue or Saks OFF 5TH regularly — at least a few times per year. The points accumulate faster than a standard credit card, and the birthday bonus and early sale access add real value for frequent shoppers.
The card does not make sense if you rarely shop at Saks or if you cannot pay your balance in full each month. Store cards typically charge higher interest rates than general-purpose credit cards, so carrying a balance is expensive. If you shop at Saks occasionally and use a rewards credit card from a bank (like a Visa or Mastercard) instead, you may earn rewards on more purchases across more retailers.
The Prestige card is worth pursuing only if you spend more than $5,000 annually at Saks and use the perks like free alterations or personal shopping. Otherwise, the regular card gives you the same rewards structure at the same cost.
How the Saks Card Affects Your Credit
Opening the Saks card will lower your credit score by a few points in the short term because Synchrony pulls your credit report. This hard inquiry typically costs 5 to 10 points and fades after a few months.
Over time, the card can help your credit score if you use it responsibly. Paying your bill on time every month and keeping your balance low relative to your credit limit shows lenders you manage credit well. This positive payment history and low utilization ratio can raise your score over months and years.
If you miss a payment or carry a high balance, the card will hurt your score. A missed payment stays on your credit report for seven years and can lower your score by 100 points or more. A high balance (above 30% of your credit limit) signals financial stress to lenders and lowers your score temporarily.
Frequently Asked Questions
Can I use the Saks card outside of Saks stores?
No. The Saks Fifth Avenue card works only at Saks Fifth Avenue and Saks OFF 5TH locations, both in-store and online. You cannot use it at other retailers, restaurants, or gas stations. If you need a card that works everywhere, you need a Visa or Mastercard instead.
What happens if I do not pay my balance by the end of a promotional financing period?
Interest accrues retroactively on the entire original purchase amount, not just what you still owe. For example, if you buy $1,000 with 12 months interest-free and pay $900 by month 12, you owe interest on the full $1,000 from the purchase date, not just the remaining $100. This can result in a large unexpected charge.
How do I redeem my points?
Points convert to statement credits automatically once you reach the redemption threshold (typically 500 points). The credit appears on your next bill. You can also call Synchrony to redeem points manually or check your account online to see your current point balance and redemption options.
What credit score do I need to be approved?
Synchrony does not publish a minimum score, but approval is most likely with a score of 670 or higher. Scores between 650 and 670 may be approved depending on other factors like income and payment history. Scores below 650 are unlikely to be approved.
Is there a difference between the regular and Prestige card besides rewards?
Yes. The Prestige card earns more points per dollar, includes free alterations and personal shopping, and offers invitations to exclusive events. However, you must spend more than $5,000 per year at Saks to be invited to upgrade, and the card has no annual fee like the regular card.