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Amex Platinum Is Losing Its Saks Fifth Avenue Credit — Here's What to Do Before July 1
July 1, 2025
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If you carry the American Express Platinum Card®, one of its most reliable annual credits is on the way out. American Express has confirmed it is retiring the Saks Fifth Avenue statement credit on July 1, 2026. If you haven't used your first $50 yet, you still have until June 30.
Here's everything you need to know.
What's Changing
The Amex Platinum has long offered up to $100 in Saks Fifth Avenue credits per year, split into two $50 increments:
- $50 from January through June
- $50 from July through December
Starting July 1, 2026, the benefit will be retired entirely. The July-December $50 credit will not be available this year.
Amex has said it plans to introduce new offers at top retailers to replace the credit, but no details have been announced yet.
Why Is Amex Dropping It?
Saks Global, the parent company of Saks Fifth Avenue, filed for Chapter 11 bankruptcy in January 2026. While the stores haven't closed, the restructuring has led Amex to wind down the partnership ahead of the July deadline.
What You Should Do Right Now
You have until June 30, 2026 to use the first $50 credit. Here's how to make the most of it:
Use it even if you don't normally shop at Saks. The credit applies to beauty products, accessories, and smaller-ticket items, not just luxury fashion. You don't need to spend $50 all at once, and there's no minimum purchase required.
Shop sooner rather than later. With bankruptcy restructuring underway, inventory and availability could change. Don't wait until late June to make your move.
Stack with a shopping portal. Start your Saks purchase through a rewards portal like Rakuten to earn additional cash back on top of the Amex statement credit.
Check Saks.com. The credit applies to online purchases at saks.com as well as in-store. Browse sale sections for items under $50 that get you to full value quickly.
Does This Change the Value of the Amex Platinum?
The Amex Platinum carries a hefty annual fee (See Rates & Fees). The Saks credit was one of the easier credits to use: $100 in straightforward retail value with no travel required. Losing it does affect the card's overall value proposition, at least temporarily.
That said, the card still offers well over $2,000 in annual statement credits across a wide range of categories. Here's the full picture of what remains:
[[ SINGLE_CARD * {"id": "106", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "Serious Points on Flights"} ]]
On top of the credits, cardholders get access to over 1,550 airport lounges worldwide including Centurion Lounges, 10 complimentary Delta Sky Club visits when flying Delta, Priority Pass Select membership, and travel protections including trip delay, cancellation, and baggage insurance.
Whether the replacement Amex announces in July matches the simplicity of the Saks credit remains to be seen, but the card's overall value is still substantial for the right cardholder.
Track Every Amex Platinum Credit with Kudos
With so many credits to manage across different timeframes, it's easy to let one lapse. The average cardholder, according to Kudos data, forgets to redeem $624 in card benefits every year. Kudos tracks your active card benefits and reminds you which perks still need to be used, so you're never leaving money on the table.
FAQ
When does the Amex Platinum Saks credit end?
July 1, 2026. The first $50 credit (January through June) is still available through June 30. The second $50 credit (July through December) will not be issued this year.
Do I need to spend exactly $50 at Saks to use the credit?
No. There's no minimum purchase required. You can make one or multiple purchases under $50, and the credit will apply as long as they post before June 30.
Can I use the Saks credit online?
Yes. The credit applies to purchases made at saks.com as well as in-store at any Saks Fifth Avenue location.
Do I need to enroll to use the Saks credit?
Yes. Enrollment is required. Log in to your Amex account and make sure the benefit is activated before you shop.
What will replace the Saks credit in July?
Amex has said it will introduce new offers at top retailers starting July 1, but has not released specifics yet. We'll update this post as soon as details are confirmed.
Is the Amex Platinum still worth it without the Saks credit?
For most cardholders who actively use the remaining credits, yes. The hotel, dining, Uber, lululemon, and digital entertainment credits alone can more than offset the annual fee (See Rates & Fees). The Saks credit was a nice-to-have, but it wasn't the card's primary value driver.
How do I keep track of all my Amex Platinum credits?
Kudos Insights automatically tracks your credit usage and sends reminders before benefits expire, so you never lose value you've already paid for.
Bottom Line
The Amex Platinum Saks Fifth Avenue credit ends July 1, 2026. Use your final $50 before June 30 on anything from beauty products to accessories, and keep an eye out for whatever Amex announces as the replacement. We'll update this post as soon as details are confirmed.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and Benefit level vary by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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