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Special Payment Plan (“SPP”) Terms and Conditions

For reference only – terms will be provided in store at time of purchase.

Once you accept an SPP offer, the terms and conditions in this document and in your SaksFirst or Saks Fifth Avenue Credit Cardholder Agreement apply to your SPP.

SPP Term6 months | 12 months | 18 months | 24 months
SPP Monthly Payment

Your SPP monthly payment equals the SPP original balance divided by the number of months in your SPP. The SPP original balance consists of the purchase amount (including taxes), plus shipping fees.

Your SPP monthly payment is included as part of the minimum payment due each month on your account. You do not need to pay them separately. The minimum payment due each month is shown on your monthly statement.

Please note: The minimum payment on your account will always be at least $10, unless your new total balance is less than $10.

SPP Fee$0
SPP Annual Interest Rate0% interest will accrue on your SPP balance between the transaction date and the date your SPP ends.

Frequently Asked Questions

  • What is a special payment plan?

    A special payment plan is a promotional financing offer exclusively for SaksFirst customers. Special payment plans give you the opportunity to pay for any purchase made with your SaksFirst card, with interest-free equal payments without opening a new credit card account.

  • Will I receive another credit card in the mail?

    Since a special payment plan does not require you to open a new credit card account, you will not be receiving a new card in the mail.

  • Where can I see my special payment plan balance?

    You can see your special payment plan balance on your monthly statement or inquire by calling 1-855-725-7222.

  • Can I make purchases on a special payment plan in Canada and the U.S.?

    You can only purchase goods on a special payment plan at Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH stores in Canada.

  • When will my SPP end?

    Your SPP will end when you have paid off your entire SPP balance or when your SPP reaches the end of the term (whichever occurs first).

  • Will I be charged interest on an SPP purchase?

    You will not be charged interest on any purchases made under an SPP before the SPP ends. When your SPP ends, starting in the billing period after the last SPP monthly payment is due, any remaining balance will be treated as a regular purchase and will be subject to the interest rate on purchases that applies to your account at that time. Subject to any interest-free grace period that applies, interest on the remaining balance will be calculated from the date your SPP ended until the balance is paid off.

    Please note: Even though you will not be charged interest on SPP purchases before your SPP ends, you must continue to pay the new regular balance by the payment due date each month to benefit from the interest-free grace period on your other purchases.

  • Can I prepay my remaining SPP balance at any time?

    Yes, you may prepay any amount of your remaining SPP balance at any time without charge or penalty. However, as described in your agreement, payments over the amount of your minimum payment will be applied to the balances on your monthly statement, starting with the balance with the highest annual interest rate, and then to other balances in descending order, based on their applicable annual interest rates. Without paying down the higher interest rate balances in full, you will not be able to pay off the entire SPP amount.

  • Can I earn SaksFirst rewards on an SPP purchase?

    SaksFirst Credit cardholders will be eligible to earn rewards on SPP purchases in accordance with the terms and conditions of the SaksFirst rewards program.

  • Where can I find more information?

    Visit a Saks Fifth Avenue or Saks Fifth Avenue OFF 5TH store in Canada for more information about SPP offers or the SaksFirst rewards program. For additional questions about your account or your SPP, please call customer service at 1-855-725-7222.