EGC stands for Electronic Gift Card. It is a promotion that Saks Fifth Avenue has every now and then where you get a gift card for spending different amounts of money on a given day. you do not have to be a Saks card holder to get the EGC. The double points event coming up is one where you have to be a cardholder-- you just get twice the points for your purchases during that time (so if you spend $10, instead of getting the normal 10 points you get $20). I hope this helps- if you run a search you can see the different gift card amounts you get for different levels of spending.