Updated August 2022
The American Express Platinum card is beneficial for those who travel frequently at an annual fee of $695.
The following are strategies for maximizing benefits to make up the cost of the annual fee.
The $200 incidental credit may be difficult for users to spend if they do not naturally spend money on flight incidentals; especially those that belong to the same airline.
However, it is possible to purchase United TravelBank credit using the incidental credit. The credit can then be used within the next five years to purchase United incidentals and flights themselves.
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The $200 incidental credit can be used to purchase United TravelBank credit that can be used within the next five years on United flights and incidentals
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The $100 Saks credit ($50 every six months) may be difficult for some users to spend if they do not usually purchase clothes/accessories from expensive stores such as Saks where items tend to be quite expensive (in the hundreds or thousands).
Users have noted that they have been able to purchase gift cards from physical Saks stores, EXCEPT outlet stores, and have the purchase reimbursed. This may be useful for those looking to accumulate credit for larger purchases.
<aside> 💡 The $100 Saks credit can be used to purchase Saks gift cards at physical stores (except outlets)
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Note that the reimbursement does contradict with the American Express disclaimer where gift cards are not typically reimbursed.
Some users go a step further and sell their gift cards on gift card exchanges.
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