How you can combine your Saks Amex Platinum credits

The Platinum Card® from American Express has an annual fee of $695 (see rates and fees), but it’s worth it for some travelers.

The card includes perks like lounge access, travel protections and statement credits, including up to a $100 annual credit at Saks Fifth Avenue. The credit is split into two $50 credits — one for purchases from January through June and the second for purchases from July through December. Enrollment is required for select benefits.

The statement credit is relatively straightforward. When you use your Amex Platinum at Saks Fifth Avenue, either in a physical store or online, Amex will credit you up to $50 in the first half of the year and another $50 in the second half. Unfortunately, the credits do not stack, so if you don’t use your $50 credit by the end of June or December, it will not carry over.

I’m not a frequent Saks Fifth Avenue customer, and $50 doesn’t get you that far at Saks.

However, if you want to combine your $50 credits and maximize your statement credits, there may be a solution: Purchase a physical Saks Fifth Avenue gift card.

Related: Your guide to the Amex Platinum Saks Fifth Avenue credit

How I use my Saks credit

If you have a Saks location near you, you can purchase a physical $50 gift card in the store. In my experience, these transactions qualify for Amex’s statement credit. So if you’re not sure what you want to get at Saks Fifth Avenue or you’re saving up for a larger item, this can be a great way to not let your statement credit go to waste.

Additionally, Saks gift cards are valid for five years, so you have plenty of time to decide how (and when) to use them. Just be sure to keep track of those gift cards and use them before they expire.

Sadly, if you don’t have a Saks location near you, this approach generally doesn’t apply to electronic gift cards. Historically, Saks bills e-gift cards differently, and thus they do not trigger the Amex statement credit reimbursement. It’s also not valid at Saks Off 5th outlets.

Finally, Saks does sell gift cards online that can be shipped to your home address. However, the lowest denomination of these is $150. Plus, you’ll be on the hook for $9.95 in shipping charges. This could be a last resort if you’ll be nowhere near a Saks Fifth Avenue location, but it still requires a significant out-of-pocket expense.

Related: 11 things you can buy with the Amex Platinum $50 Saks credit

The Amex Platinum is one of the most valuable travel cards out there, thanks to a long list of benefits and statement credits. Unfortunately, some of these take some effort to utilize. However, if you’ve been struggling with maximizing the Saks Fifth Avenue benefit, buying physical gift cards from a Saks store can be an alternative.

For rates and fees of the Amex Platinum Card, click here