Word on the street (and in the Wall Street Journal!) is that Saks Fifth Avenue might be heading for bankruptcy after missing a debt payment. This is HUGE news if you're sitting on Saks gift cards or, more importantly for award travelers, have credits from your American Express Platinum card that can be used at Saks.

Why should you care? Well, if Saks does file for bankruptcy, those gift cards and credits could become worthless, or at least a major hassle to redeem. And nobody wants to lose out on "free" money from their Amex Platinum!

Vendors are already reportedly holding back merchandise due to unpaid bills, which is another bad sign. So, the bottom line is: if you have any Saks credits or gift cards burning a hole in your digital wallet, now's the time to use them! Treat yourself to something nice, and avoid the potential headache of dealing with them in a bankruptcy situation. Don't delay!