Update: A representative from American Express has reached out with a correction. This benefit will continue to be available through June 30, 2026, for both new and existing cardholders. Starting on July 1, 2026, the Shop Saks benefit will be removed. Apparently, we can expect some new Platinum card-specific Amex Offers to launch on July 1st. Here is the official statement we received from Amex:
Starting July 1, 2026, the annual Shop Saks credit on the U.S. Consumer Platinum Card will be removed.
New and existing U.S. Consumer Platinum Card Members can continue to get up to $50 in statement credits for purchases at Saks Fifth Avenue or saks.com on their Platinum Card through June 30, 2026. No minimum purchase required. Enrollment required.
On July 1, we plan to introduce several new and exclusive Amex Offers for Platinum Card Members at top retailers and brands that our Card Members know and love. More details to come soon.
U.S. Consumer Platinum Card Members continue to have access to more than $3,500 in annual travel and lifestyle benefits and statement credits across dining, entertainment, wellness, and retail.
Full details on Card benefits and statement credits here.
Last week, American Express quietly removed the Saks Fifth Avenue credit from the list of benefits for new Platinum cardholders. The Amex Platinum card currently includes a $50 “Shop Saks” credit for Saks Fifth Avenue purchases between January and June and again between July and December. This benefit was removed for those applying from 3/26/26 onward, but those who had the card prior to that date can still enroll in and use the benefit. Update: Corrected as per the statement above.
This move is hardly surprising as Saks has been teetering on the edge for quite some time, entering bankruptcy protection a couple of months ago. Around the holidays, it became almost impossible to find items in stock and available to be ordered, and even some of those items that were in stock never shipped. It is anybody’s guess as to how long Saks can continue to operate, so I expected this benefit to be cut at some point.
It is good to see that existing cardholders are still able to enroll in and make use of the benefit, since it has been advertised as a benefit when new cardholders have opened the card. However, I wouldn’t advise waiting until the end of June to use your credits from this half of the year. While you’ll still be eligible for the benefit, there’s no telling how long Saks will last, and there’s no guarantee that an online order will ship (a few of my holiday orders never shipped). If you haven’t enrolled and still have the benefit available, make sure to enroll before making a purchase, as enrollment is required.
For now, I believe that gift cards are still being honored, but I wouldn’t recommend holding them. Use them when you have an opportunity.
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“Offers”? Meaning not new standard benefits, but offers we will need to continually search through looking for anything worthwhile?
Assume something similar to members week where they had featured offers. Spend $150 at The Container Store and get $100 back.
Defeats most gift card buyers, gets people into stores they wouldn’t otherwise shop, and offers a good value if you use it.
Last week, the flagship store in NYC honored my hoard of $50 giftcards and split charge the balance to use my two platinum cards to get another $100. They know the game all too well. Not sad this is ending but please for the love of God I don’t need anymore rideshare credits or resy credits or hotel credits.
In case anyone still wonders why the TravelBank credit hack disappeared, it’s not because people bragged about it on Facebook or Reddit, it’s because representatives from Amex actually read these blogs.
personally it’s useless when you live in the bay area…. the items are overpriced and there’s no store.. closest is in LA… so you’re basically paying shipping on top of the overpriced item just to get the $50 credit. glad they plan to replace it with something else, been waiting a long time for it to happen
That’s a shame “for new Platinum cardholders” and thankfully “those who had the card prior to that date can still enroll in and use the benefit.”
Between the potential failure of Saks (and loss of these semi-annual credits) and the new restrictions on United Travel Bank for the Platinum’s airline incidental fee credit… we’re losing value, fast here. Sure, the new-ish Lululemon 4x $75/quarter and 4x Resy $100/quarter and 2x $300 semi-annual FHR credits… kinda sorta make up for those losses.
But… these annual fees keep increasing. $895 now. For the old-timers, I remember the good ole days with just $450 AF for Platinum. $550, $695… like, how soon are we gonna see $1,000+ Will it be Amex, Chase, Citi? Like, who’s gonna dare go with a thousand-dollar-plus annual fee on a public non-invitation-only card product?
Update from DoC: It’s over for everyone starting July 1, 2026… RIP.
And by “It’s over” I mean, it’s F-ing over, sell everything, Warren-Buffet-fake-quote meme style-over.
So what exactly do you guys mean? Since it is still listed on the main landing page for the Platinum and in the offer terms. So can you clarify? Like have people who applied said it doesn’t show in their account? Or what exactly is the situation?
If you are the credit ‘teacher/master’ shouldn’t you know already? Tell us!
DP: I applied and was approved yesterday (3/29). Today (3/30) I went to my account and it had the Saks benefit listed and I was able to enroll successfully. FYI I’m still waiting on the card so I haven’t used the credit yet.
Source on this?
Pretty sure this is wrong and needs some correcting. The benefit is still listed in their offer terms. It likely will be going away but as of now. Still there.
https://www.americanexpress.com/us/credit-cards/card-application/apply/prospect/terms/platinum-card/25330-10-0#offer-terms
Where’s the source for this?
It’s incorrect.
Still shows up on offer terms.
https://www.americanexpress.com/us/credit-cards/card-application/apply/prospect/terms/platinum-card/25330-10-0#offer-terms
The post has been corrected. We were given in correct information, but a representative from Amex reached out to give us the statement that’s now at the top of the post.
It’s still listed here: https://www.americanexpress.com/us/credit-cards/card/platinum/
Where was it removed from?
Coincidentally, I was able to use my Saks credit (I hope!) this weekend. I finally found a shirt in my size and in stock. Ended up costing me $33 out of pocket to use this “benefit” (but not a bad deal….assuming the shirt ever arrives! LOL)
It’s still in the offer terms though?
My last Saks order arrived in the form of an empty box. I contacted Customer Support about it, and they “escalated” to their “team” who decreed that I would not be refunded for Reasons.
Unbelievable. I trust that you swiftly got refunded via chargeback through Amex?
I wonder how PC (Product changes) will play out – just PC’d a Gold -> Plat on 3.25 – I was able to enroll Plat benefits but not till 3.27 inc Sak’s.
DP – Delta BG to BP on 3.27 – I only mention because now its taking 36-48 hr to reflect PC (and ability to enroll in benefits) in the app/on website – in the past it would be available in a few hours.
Also changed Airline from UA to Delta on 3 cards also taking 36-48 to reflect on website/Amex app – in the past it typically was fairly instantaneous or 1-2 hrs.
I normally banked the credits in Jan – but we were traveling 4.5 wks between NYE and Feb 10th and DP just started to post about UA.
That said the Sak’s benefit has bever been anything but gravy and was nice in the past with free S&H (pre-Bloomingdales) and when Rakuten had Saks 12-16X around Black Friday and the Sak $75 GC for mid December for spending $150~$200 around BF.
Typically bamked GC for this every year, this year actually used credits in Chicago days before they filed BK.
I wonder if a) we will see a class-action for the Credit (ii.e non-shipmemt of orders) or if Amex.will.jist eat it and give some/every Plat card a statement credit – Amex has usually been a Rockstar with regards to Card benefits and credits (and really makes Chase look bad and superstingy esp with CSR roll-out and roll-back of advertised benefits).
Great news there is a change afoot on this benefit. Hopefully AMEX removes it for existing cardholders, and replaces it with something halfway decent. I’ve basically given up on the Saks credit.
100%. It was a mistake to even keep the credit through the recent refresh. Good riddance.
They basically already replaced it with Lululemon, but kept the old one around at the same time.
They’ll most likely just get rid of the credit without replacing it, then point to Lululemon. Meh.
Add another $5 Resy credit in its place and I’d say I am at least $4 ahead.