As we head into the final stretch of the year, this is your reminder to check one thing before December 31:
Your Amex credits.
A lot of Amex benefits are true use-it-or-lose-it. If you don’t spend them by the end of the year, they don’t roll over, they don’t bank – they simply reset in January, meaning you miss out.
But here’s the part most people don’t know:
You can use these credits and earn a meaningful amount of extra points at the same time, essentially turning expiring perks into free Membership Rewards.
This is especially easy right now because many people are already shopping for gifts.
This guide walks through two extremely overlooked end-of-year plays:
• Using the Amex Business Platinum Dell credit and earning bonus points on top
• Using the Amex Platinum Lululemon and Saks credits and earning bonus points on top
The setup takes a few minutes, and once it’s done, it’s repeatable every quarter/year.
The Big Idea (Quick Version)
You use your Amex credits as normal.
Amex reimburses you as normal.
But instead of going directly to the store, you start your purchase through a shopping portal, which pays you points on the same purchase.
Amex gives you the refund.
The shopping portal still gives you the points.
Your out-of-pocket cost stays the same (often $0), but you walk away with extra points you wouldn’t have earned otherwise.
Step-By-Step: How to Use Expiring Amex Credits Without Wasting Them
These steps are identical for all of the following credits:
Amex Business Platinum — $150 Dell credit
Amex Platinum — $75 Lululemon credit
Amex Platinum — $50 Saks Fifth Avenue credit
The only thing that changes is which store you shop at.
Step 1: Set Up Rakuten (If You Haven’t Already)
If you don’t already use Rakuten, this is the moment.
Rakuten allows you to earn cash back or points when you shop online. If you link Rakuten to your Amex account, your rewards can be paid out as Amex Membership Rewards points instead of cash.
New users can earn a 5,000-point bonus after their first qualifying purchase after signing up with our link. In this case, Amex is reimbursing you anyway, so you’re not truly spending out of pocket.
Once your Rakuten account is set to earn Amex points, you’re ready to move on.
If you want a full breakdown on how exactly Rakuten works, read this article.
Step 2: Activate Your Amex Credits (Do This First)
Before you buy anything, open the Amex app and head over to the benefits section (not offers), and make sure your credits are activated.
For the Amex Business Platinum: Activate the $150 Dell credit (once per calendar year)
For the Amex Platinum (personal):
- Activate the $75 Lululemon credit (quarterly)
- Activate the $50 Saks Fifth Avenue credit (every 6 months)
All of these credits expire at the end of the year. If they’re not used by December 31, the value disappears.
You only need to enroll once. After that, the credit applies automatically when you make a qualifying purchase.
Step 3: Shop Through Rakuten (This Is the Key Step)
Instead of going directly to the store’s website, open Rakuten and search for the retailer tied to your credit:
Dell for the Business Platinum
Lululemon for the Platinum
Saks Fifth Avenue for the Platinum
Rakuten’s earning rates change daily, but it’s common to see 10x–15x points per dollar around the holidays. I personally wait until I see at least 10x before using this strategy.
What’s happening behind the scenes:
- You earn points from Rakuten
- Amex still reimburses the purchase
- Rakuten points can be transferred to Amex (or Bilt, if you prefer)
- You’re stacking, not choosing one or the other.
Step 4: Buy Something You Actually Need (or Can Gift)
This is the easiest part, especially in December.
Dell ideas:
Game consoles and games, monitors, headphones, chargers, smart-home gear, accessories. Dell sells far more than laptops.
Lululemon ideas:
Leggings, jackets, workout tops, belts, bags, men’s basics, easy giftable accessories.
Saks ideas:
Beauty, skincare, candles, fragrance, small leather goods, home items, gifts you were probably buying anyway.
Aim to stay close to your credit amount so you’re not fronting much extra cash.
Step 5: Check Out With the Right Amex Card
Use the Amex card tied to the credit.
After checkout:
- Amex reimburses the purchase
- Rakuten tracks the order
- Points post to your Rakuten account and later transfer to Amex (or Bilt)
What You Actually Earn (Real Numbers)
Assuming a 12x Rakuten offer:
Amex Business Platinum (Dell):
$150 × 12 = 1,800 points
Amex Platinum (Lululemon):
$75 × 12 = 900 points
Amex Platinum (Saks):
$50 × 12 = 600 points
If you’re new to Rakuten, you’ll get the 5,000 signup bonus on top – on a $0 purchase!
If you already use Rakuten, you still earn the multiplier, you just won’t get the signup bonus again.
The End-of-Year Reminder
If you do nothing, these credits expire.
If you use them normally, you break even.
If you use them this way, you turn expiring benefits into extra points, without spending more money or doing anything complicated.
That’s the difference between “having a premium card” and actually extracting value from it.
If you want a deeper breakdown of how Rakuten works behind the scenes, I’ve got a full explainer on that too.
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