UPDATE: On 27 July 2018 I got reimbursed for a $50 gift card I bought in person on 25 July 2018 in store. I also got 4% back by linking the card to my Ebates account:
Has anyone tested if the gift cards are actually ineligible or if they are “ineligible” like the airline gift cards are but still get credited back? Also, from what I’ve seen so far, the minimum gift card available online from Saks is $150 but a credit back under this program would still effectively be a 33% discount on a future $150 purchase…
The same question has been asked on other sites about applying the same loophole that we have enjoyed with $50 Delta Gift Cards, $200 Southwest Gift Cards, and $100 American Airlines Gift cards to the $50 Saks benefit. If you are not aware AmEx is explicit in their terms saying that Gift Cards are not covered for their annual $200 airline benefit for the AmEx Platinum. However when we buy gift cards, done in the right amounts (4x$50 for Delta, 2x$100 for American, or a single $200 Southwest) the charges have been consistently reimbursed due to the lack of unique coding between airline fees and a gift card. I could not find an adequate datapoint out there for Saks 5th and the new $50 credit, so I went ahead and sent my brother to an actual brick and mortar Saks Fifth Avenue location to buy a $50 gift card as my AU.
Note that online you can only buy a $150 gift card as the smallest denomination.
In store you can buy any amount and they wrap it up really nicely. I also got him to ask the cashier if a single purchase can be split over multiple cards. They said yes to that, so technically you could buy a $200 item directly and split it over 4 AmEx Platinum cards to capture 4x $50 credit.
The charge has shown up on my account as pending. It’s too soon to tell if a gift card has been reported to AmEx, or if I get reimbursed at all. Keep checking this article for a result either way. If I get $50 back then it might be feasible to buy 13 $50 gift cards in January, and then another 13 cards in July for a whopping $1,300 in gift cards to buy these cool boots for my Type III NWUs (pretty sure not authorized… yet):
I asked the online CSR in a chat regarding the max number of gift cards that can be used in a single transaction, and if we could reload a gift card multiple times at $50 a pop:
There you have it, you can only use 9 gift cards and they can’t be reloaded. However the idea came up regarding combining cards and here is what they said:
Here is the plan, if the gift card gets reimbursed then we might just have to buy $50 card and combine it to a mother card in store. We do this multiple times twice a year till I have a $2,600 over two years and buy myself something nice like this:
Honestly that is a lot of work and I think I’m just going to buy little small crappy things online at $50 a pop to be sent for free via shop runner. Regarding food, my brother said he didn’t see any candy or smaller food items for sale. He did say the store was huge and there very well could have been a candy section. More to come on that. If you have not gotten the AMEx Platinum, there are 100k MR offers out there, but you can use my link here to get 60k with $5k spend in 90 days and toss some points my way. Keep in mind the $550 annual fee is waived for AD and Reserve Military members.