The $50 first-half Saks Fifth Avenue credit on your Amex Platinum needs to be used by June 30, 2026. After that, the benefit is gone permanently for all cardholders.
American Express is removing the Saks credit from the Platinum Card effective July 1, 2026. New applicants already lost the benefit on March 26, 2026. July 1 ends it for everyone else.
What’s Happening
The Amex Platinum has offered a $100/year Saks Fifth Avenue credit since 2016, split into two $50 credits: one usable January through June, another available July through December.
Both credits are gone starting July 1. That means:
- Your H1 credit (up to $50, Jan 1 through Jun 30) is the last one you’ll receive
- The H2 credit (Jul 1 through Dec 31) will not be issued for 2026 or any future year
American Express says it will introduce “new and exclusive offers at top retailers” to replace the Saks benefit, but no specific replacements have been named as of April 2026.
Use Your H1 Credit Before June 30
If you haven’t spent your $50 yet this year, here’s what you need to know:
Where it works:
- In-store at Saks Fifth Avenue or Saks OFF 5TH locations
- Online at saks.com (pay with your Amex Platinum at checkout)
Important timing note: Your purchase must post to your account before June 30, not just be placed. Saks doesn’t charge your card until after items ship. If you’re ordering online, allow enough lead time for shipping and posting. Waiting until June 28 or 29 carries real risk of missing the credit.
What doesn’t qualify: Gift cards and purchases at Saks concession brands (third-party vendors operating inside the store) are typically excluded.
No minimum purchase: There’s no minimum to trigger the credit. You can apply it to a purchase under $50 and it covers up to that amount.
Why the Benefit Is Ending
Saks Global, the parent company of Saks Fifth Avenue, filed for Chapter 11 bankruptcy on January 14, 2026, citing billions in debt and declining sales following its 2024 acquisition of Neiman Marcus. American Express is retiring the partnership benefit rather than renegotiating under those circumstances.
Does This Change the Math on the Amex Platinum?
The Amex Platinum’s annual fee increased to $895 at renewal on or after January 2, 2026 (up from $695). Losing the Saks credit removes $100 in straightforward annual value from that equation.
The card’s benefit structure now centers heavily on credits that require specific lifestyle alignment:
| Credit | Annual Value | Reality check |
|---|---|---|
| Resy dining credit | $400 | Requires booking via Resy app; not all restaurants participate |
| Equinox credit | $300 | Only valuable if you were already an Equinox member |
| Lululemon credit | $300 | Requires spending at Lululemon specifically |
| Oura Ring credit | $200 | One-time hardware purchase credit |
| Airline fee credit | $200 | Incidentals only, not ticket purchases for most airlines |
| CLEAR Plus | $189 | High value if you fly frequently through CLEAR airports |
| Uber One | $120 | $10/month credit, useful if you use Uber or Uber Eats |
| Hotel credit (FHR/HC) | $600 | Requires 2-night minimum booking through Amex Travel |
The Saks credit was notable for its simplicity: spend $50 at Saks twice a year. No app needed, no minimum stays, no ecosystem requirement. That made it one of the more universally usable credits on the card.
What hasn’t changed for travelers:
- 5x points on flights booked directly with airlines or through Amex Travel (up to $500,000/year in spend, as verified April 2026)
- 5x on prepaid hotels booked through Amex Travel
- Centurion Lounge access, Priority Pass, and Delta Sky Club access when flying Delta
- $600 hotel credit via Fine Hotels + Resorts or Hotel Collection (requires 2-night minimum, as of January 2026)
For frequent travelers who book flights directly and use Centurion Lounges regularly, the case for the Platinum is still there. For cardholders who were relying on the lifestyle credits to close the $895 fee gap, the 2026 benefit package is a harder case to make.
Our full Amex Platinum worth-it analysis breaks down the current numbers by spending type.
Bottom Line
Spend your first-half $50 Saks credit at saks.com or in-store before June 30. The purchase must post by that date, not just be placed, so don’t wait until the last day. After July 1, this benefit is permanently gone.
If you’re evaluating whether to keep the card at $895, check our Amex Platinum worth-it breakdown and the 2026 benefit cut summary for the full picture. To apply: American Express Platinum Card. Rates and benefits verified as of April 2026.
FAQ
Q: When exactly does the Amex Platinum Saks credit end?
A: July 1, 2026 for all existing cardholders. New applicants lost access on March 26, 2026.
Q: Can I still use the $50 credit for the second half of 2026?
A: No. The H2 credit (July through December) will not be available at all. The H1 credit (January through June) is the final one.
Q: Why is Amex ending the Saks credit?
A: Saks Global, the parent company of Saks Fifth Avenue, filed for Chapter 11 bankruptcy in January 2026. Amex is retiring the partnership benefit rather than renegotiating with a company in bankruptcy proceedings.
Q: Do my Saks purchases need to post before June 30?
A: Yes. The purchase must post to your account before June 30, not just be placed. Online orders may not post until after shipping, so allow extra time.
Q: What is replacing the Saks credit?
A: American Express has announced plans to introduce “new and exclusive offers at top retailers,” but no specific replacements have been named as of April 2026.