Saks Fifth Avenue, in partnership with Capital One, , but you can only get the second card after you’ve gotten the first and applied for an “upgrade.” Here’s the deal:
The can only be used at Saks Fifth Avenue and it offers you SaksFirst points based on the amount of your yearly spending at Saks. You get 2 points per dollar on total purchases up to $4999, 4 points per dollar on yearly purchases between $5000 and $9999, and 6 points per dollar on annual purchases from $10,000 and up.
Based on your points each year, you get Saks gift cars in $25 increments. Each point is worth a penny, so every 2500 points equals $25 in Saks gift cards.
Now, once you have the Saks store card, you can actually , which allows you to earn points on purchases outside of Saks, too, including bonus point categories.
Once you get a Saks MasterCard, you’ll continue to get points on Saks purchases using the same formula as the store credit card, but you’ll also get 3 points per dollar when you use the card at salons and spas, 2 points per dollar when you use the card at grocery stores, gas stations and restaurants, and 1 point per dollar everywhere else you use the card.
The Saks Fifth Avenue credit cards are issued in partnership with Capital One.