Credit Card News
Amex Platinum to Remove Saks Credit Amid Retailer’s Bankruptcy
One of the American Express Platinum card‘s numerous perks is set to disappear later this year.
About the Amex Platinum Saks Credit Removal
American Express has announced that it will soon discontinue the Platinum Card’s Saks Fifth Avenue Credit. According to a report from Doctor of Credit, the benefit will officially be removed from the card on July 1st, 2026. New and current consumer Platinum cardmembers can continue to use this credit for purchases at Saks Fifth Avenue stores or Saks.com through June 30th. Enrollment is still required, although there is no minimum qualifying purchase amount.
The Saks Fifth Avenue benefit on the Platinum card was a semi-annual credit totalling $100 per year. Members could receive up to $50 in statement credits for purchases made between January and June and another $50 between July and December. Previously, cardmembers could also enjoy free shipping on Saks thanks to a ShopRunner subscription that was also included with the card. However, Saks exited ShopRunner in 2023 and Amex removed the ShopRunner perk in 2025.
This update from American Express comes after Saks filed for bankruptcy back in January. The high-end retailer has announced store closures and layoffs as it progresses through this process.
Meanwhile, Amex says that it intends to “introduce several new and exclusive Amex Offers for Platinum Card Members at top retailers and brands” on July 1st. More details on those deals are expected soon.
More on the Amex Platinum Card:
American Express’s flagship Platinum Card carries an $895 annual fee, but features numerous credits and benefits. For example, cardmembers enjoy $600 per year in Amex Fine Hotels & Resorts/Hotel Collection credits, $200 a year in Uber Cash credits, $400 per year in Resy dining credits, $300 per year in Lululemon credits, and many more. Additionally, Platinum cardholders have access to Amex Centurion Lounge locations, Delta Skyclubs (when flying Delta), and hundreds of other airport lounges that are part of the Priority Pass network.
My Thoughts:
Given what’s going on with Saks, this news certainly isn’t much of a surprise. In fact, I definitely expected this benefit to be retired when the Platinum card was refreshed last year.
Although I’ve made some decent use of this semi-annual Saks credit over the years, I have noticed that it’s been a lot harder to use as of late. Moreover, Saks seems intent on making it harder to find items, as the filter for things such as in-stock sizing doesn’t appear to work for me. In turn, I’m not even sure if I’ll end up using this one last credit.
As for what Amex Offers the company could be rolling out on July 1st, I’m not going to get too excited yet. Then again, the company did have some great deals during the pandemic. Looking longer term, I don’t expect that this departing perk will break too many hearts or lead to many cancellations.
P.S. For a full guide to the Platinum Card’s credits and the best ways to use them, check out my article on the topic.
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