We report, for the first time, measurements of the third order, $chi_3$ and fifth order, $chi_5$, susceptibilities in an itinerant oxide metamagnet, Sr$_3$Ru$_2$O$_7$ for magnetic fields both parallel and perpendicular to the c-axis. These susceptibilities exhibit maxima in their temperature dependence such that $T_1 approx 2T_3 approx 4T_5$ where the $T_i$ are the position in temperature where a peak in the $i$-th order susceptibility occurs. These features taken together with the scaling of the critical field with the temperature $T_1$ observed in a diverse variety of itinerant metamagnets find a natural explanation in a single band model with one Van Hove singularity (VHS) and onsite repulsion $U$. The separation of the VHS from the Fermi energy $Delta$, sets a single energy scale, which is the primary driver for the observed features of itinerant metamagnetism at low temperatures.
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