Amex Platinum – American Express Platinum cardmembers have until June 30 to use the card’s biannual Saks Fifth Avenue statement credit—up to $50 for the January–June period—before it’s discontinued. Enrollment is required, purchases must meet the benefit’s rules, and Saks typ
For anyone still meaning to use the American Express Platinum Card® Saks Fifth Avenue statement credit, the countdown has started.
American Express is ending the Platinum card’s biannual Saks Fifth Avenue statement credit* on June 30. The change landed after Saks Global—the parent company of Saks Fifth Avenue—filed for Chapter 11 bankruptcy in January.
If you haven’t used your January–June credit yet, you still have up to $50 available before the benefit is discontinued. But there’s a catch that can trip up shoppers who wait: Saks generally doesn’t charge your card until an item ships. With the benefit ending June 30, that timing matters.
The safest move is simple: place your order at least a week before the deadline to give the charge and credit a chance to post.
The statement credit itself has been up to $100 annually, split into two halves: up to $50 from January through June and up to $50 from July through December. Since the statement credit ends June 30, Amex Platinum cardmembers will only have $50 to use this year.
Before you buy, make sure you’re enrolled.
American Express cardholders need to be sure they’re enrolled in the benefit before making a purchase. The guidance is to check the “Rewards & Benefits” tab on your online Amex account before shopping.
Once you’re enrolled, the rules are straightforward, but they’re specific:
There’s no minimum purchase required to trigger the statement credit.
Gift card purchases are not eligible.
The statement credit is only valid for purchases made at Saks Fifth Avenue online or at locations in the U.S. and U.S. territories.
If you shop online, you must meet a $300 minimum (before taxes) to qualify for free shipping. If you don’t meet that minimum, there’s a $9.95 shipping fee.
And there’s a timing wrinkle that can make the credit feel like it “vanished”: you may have to wait up to four weeks after an eligible purchase is charged to your card for the statement credit to post.
Because Saks is known for luxury brands, finding something that fits $50 or less may take a bit of hunting. The recommendation is to check sale items and smaller-ticket products such as beauty products, accessories, and children’s clothing.
The credit can also be stretched further by stacking it with a shopping portal such as Rakuten, which may earn additional points or cash back.
Bottom line: the biannual Saks Fifth Avenue statement credit on the American Express Platinum Card® is expiring June 30. If you haven’t used the benefit yet. you still have a few days to redeem what’s left—just be sure to enroll before shopping and keep the $9.95 shipping fee in mind unless you spend more than $300.
*Enrollment required.
Amex Platinum Saks Fifth Avenue statement credit June 30 deadline Chapter 11 bankruptcy Rakuten shopping portal American Express Platinum benefits cardmember enrollment
So basically Amex is cutting off free Saks money? Cool cool.
Wait, June 30 means you have to buy by June 30? But they don’t charge you till it ships, so like… what if it ships after? Seems messed up. I was gonna use mine last minute.
This is because Saks went bankrupt right? Like I read somewhere Chapter 11 means everything shuts down immediately, so Amex probably said nope to the credit. I guess I should’ve used it already. Also why do they make it so confusing with enrollment stuff.
I don’t even get how the “biannual” thing works half the time. Is it $50 each half or $50 total? And it says no gift cards, but what counts as gift card like if you buy a gift receipt? lol. Amex always making it sound simple then burying the fine print. Just charge me faster so the credit posts before it ends.