Saks Fifth Avenue statement credit discontinued

up to $100 per year → $0

Effective July 1, 2026, American Express removed the Shop Saks benefit from the U.S. consumer Platinum Card for all cardholders. The benefit had provided up to $50 in statement credits at Saks Fifth Avenue in each half of the calendar year, for up to $100 annually. New applicants stopped receiving it on March 26, 2026, and after an initial report that existing cardholders would keep it, American Express confirmed the benefit would end for everyone on the same July 1 date. Saks Global filed for Chapter 11 bankruptcy in January 2026. American Express said it would introduce new Platinum-specific Amex Offers at other retailers, which are targeted, rotating promotions rather than a guaranteed credit.