The Saks Credit Is Gone — Amex Platinum Dropped It July 1, 2026
The $100 annual Saks benefit ended permanently on July 1, 2026. Here's what replaced it.
What Happened
American Express officially retired the Saks Fifth Avenue statement credit from the Platinum Card effective July 1, 2026. The benefit had provided up to $100 per year ($50 January–June and $50 July–December). The H1 2026 credit was the final window to use it — the H2 credit did not reset on July 1 as in prior years.
Why It Ended
Saks Global, parent company of Saks Fifth Avenue, filed for Chapter 11 bankruptcy in January 2026. As inventory depleted and fulfillment issues mounted, Amex removed the credit entirely starting July 1. This was not unexpected — the benefit had already been removed for new applicants starting March 26, 2026.
What Amex Said Is Coming
Amex announced it would introduce “new and exclusive Amex Offers at top retailers” starting July 1 as a replacement. Unlike the Saks credit (a defined semi-annual benefit with no minimum spend), Amex Offers are limited-time, card-linked deals that require activation and vary by cardholder. Details of the replacement offers should be visible in your Amex account under Benefits.
Net Impact
The Platinum's effective annual value drops by $100 with the loss of this benefit. Given the card’s $895 annual fee, the remaining credits (hotel, Uber Cash, Uber One, Resy, digital entertainment, Equinox, lululemon, Walmart+, CLEAR Plus, Oura Ring) still provide ample offset for heavy users, but the simple $50 semi-annual Saks return is gone.
Frequently Asked Questions
Is the Amex Platinum Saks Fifth Avenue credit still active?
No. The credit ended for all cardholders on July 1, 2026. The H2 2026 credit did not reset as it had in prior years, and the benefit has been fully removed from the card.
Why did Amex remove the Saks Fifth Avenue credit?
Saks Global, the parent company of Saks Fifth Avenue, filed for Chapter 11 bankruptcy in January 2026. As inventory and fulfillment issues mounted, Amex removed the credit entirely starting July 1, 2026 — it had already been removed for new applicants starting March 26, 2026.
What replaced the Saks credit on Amex Platinum?
Amex says it will introduce new, exclusive Amex Offers at top retailers starting July 1, 2026. Unlike the old Saks credit, these are limited-time, card-linked deals that require activation and vary by cardholder — details appear under Benefits in your Amex account.