Saks is running their triple points event from now - 09/12 (online and in-stores). For those of you who don't know, triple points is the best time of the year to make any large purchases as you get the most money back for your end of the year gift card. I believe gift cards will be sent out in February but you can always have the amount credit back to your account by calling their CS line. If you're in need of a Saks SA who specialize in Chanel, feel free to contact me. Here's how to save roughly $800 on a brand new Chanel boy bag:
Current retail price for the new medium size is $5200. If you open a Saks card up, you'll get 10% off your purchases made within the first day | $5200 - 10% = $4680 (you'll save $520)
Spend up to $4999 and earn 2 points for every dollar spent | $4680 x 2 = 9360 points= $93.60
During triple points, get 6 points for every dollar spent | $4680 x 6 = 28080 points = $280
Total discount + gift card amount = $520 + $280 = $800
Granted, you're not really saving $800 but still, the gift card is yours to spend. I wish I knew about the triple points event when I purchased my boy.
Another thing I wanted to point out is that if you spend over $5000 per year, you'll earn Elite status. If you're an Elite customer, you'll earn 4 points for every dollar spent. Using the Chanel boy bag as an example, you would earn 12 points for every dollar spent during the triple points even. For a $5000 purchase, you would earn a hefty $600 gift card. Not too shabby huh?
I can't emphasize enough the importance of paying the balance off at the end of the billing cycle. This strategy is only worth doing if you're going to make the purchase regardless and planning to pay it off shortly after. Nothing worth paying the interest rate at 24.24% APR even a Chanel bag =)
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