What happened
- Enrollment in the benefit is required before making a purchase.
- No minimum purchase is required to trigger the credit.
- Gift card purchases are ineligible.
- Valid for purchases at Saks Fifth Avenue online or in U.S. and U.S. territories.
- Saks generally charges the card upon shipment, so cardholders should order early to ensure the charge posts before June 30.
- Statement credits may take up to four weeks to post after the charge. The article notes that the credit is useful for smaller-ticket items like beauty products and accessories, or can be stacked with shopping portals like Rakuten
The American Express Platinum Card is discontinuing its biannual Saks Fifth Avenue statement credit effective June 30, 2026. This decision follows Saks Global's Chapter 11 bankruptcy filing in January 2026. Cardholders who have not yet used their January-June credit allocation still have up to $50 available. The annual benefit was typically $100 total ($50 per half-year), but the July-December portion is now cancelled. Key details for redemption: