Amex Platinum Card Losing Saks Fifth Avenue Credit This Summer

Amex is dropping one of its most notable statement credits from the popular Platinum Card^® from American Express.

Right now, Amex Platinum card members get up to $100 in Saks Fifth Avenue credits each year (up to $50 from January to June and up to $50 from July to December), but that long-standing benefit is ending on July 1, 2026.

Amex has said that it plans to introduce new offers to replace the credit, but there are no specifics yet. Let’s take a look at the details.

Amex Ending Saks Fifth Avenue Credit on Platinum Card

American Express has confirmed with Upgraded Points that it is ending its popular Saks Fifth Avenue credit on the Amex Platinum card on July 1, 2026.

Saks filed for Chapter 11 bankruptcy protection earlier this year, and American Express seems to be taking a step back as the retailer restructures its debt.

If you have an Amex Platinum card, you can still use your Saks credit once before the partnership ends. As a reminder:

• You must enroll to use this benefit.
• The Saks credit is split into 2 $50 credits: One is available from January to June, and the other from July to December.
• You can use the credit on purchases in-store or at Saks.com

Card members can continue to use their credit  through June 30, 2026, with no minimum purchase required.

American Express has said it will introduce “several new and exclusive Amex Offers for Platinum Card Members at top retailers and brands our Card Members know and love. More details to come soon.”

Amex Platinum Card Credits

The Amex Platinum card is one of the most popular cards for many reasons, including its travel and lifestyle benefits. The card carries a $895 annual fee (rates & fees), but its benefits can more than outweigh that fee.

In addition to earning 5x Membership Rewards points on flights booked directly through the airline or through AmexTravel.com (up to $500,000 on these purchases per year, then 1x) or on prepaid hotels booked through AmexTravel.com, cardholders will continue to access the following credits (many of these require enrollment):

• Up to $200 airline incidental credit (good toward expenses such as baggage and seat selection fees)
• Up to $85 TSA PreCheck or $120 Global Entry statement credit
• Up to $200 Uber Cash (up to $15 per month, plus an additional $20 in December; valid on U.S. Eats orders and rides; you must add your card to your Uber account and pay with an Amex card to earn and use this benefit)
• Up to $300 digital entertainment credit (up to $25 per month)
• Up to $600 prepaid hotel credit for Amex Fine Hotels + Resorts or The Hotel Collection (up to $300 semi-annually, 2-night minimum stay for The Hotel Collection)
• Up to $155 Walmart+ credit
• Up to $300 Equinox credit
• Up to $209 CLEAR+ credit

Plus, access to a long list of airport lounges, including the popular Centurion Lounges, Delta Sky Clubs (when flying Delta), and Priority Pass lounges (upon enrollment).

Final Thoughts

As of July 1, 2026, American Express is removing one of its most recognizable credits on the Amex Platinum card, the Saks Fifth Avenue credit.

For now, cardholders still have time to take advantage of their final $50 Saks credit before June 30, 2026, before the benefit officially disappears.