Saks has filed for bankruptcy. The Amex Platinum card comes with a $50 Saks Fifth Avenue credit every six months. Now American Express confirmed that the benefit will be removed on July 1, 2026. If you have not used your first-half credit yet, you have until June 30 to do so. After that date, the credit disappears entirely, for new and existing cardholders alike. For other benefits, take a look at the Amex Platinum’s benefits. Our annual credit card benefits checklist is a good reminder of what else might be sitting unused on your cards right now.
Your deadline is June 30
The Saks credit has been part of the Amex Platinum since 2018. It ran as two separate $50 credits per calendar year: one available from January through June, and one from July through December. Both are now going away. The first-half credit is yours through June 30 if you use it. The second-half credit is simply gone. You will not receive it after July 1 regardless of when your card year resets.
We looked at the website, and honestly, there isn’t much left. A lot of the usual small picks, candles, skincare, socks, gifts, are either gone or only available in odd variations. So if you had something in mind for your credit, now’s probably the time to grab it before the selection shrinks even more.
You might have better luck wandering into a physical store. Some locations will still might have decent inventory; others might look like the morning after a clearance sale. It’s a bit of a gamble, but it could pay off if the website isn’t giving you much to work with.
If you have not enrolled in the Saks benefit yet, do that first in your Amex account before you shop. The credit will not post without enrollment.
What to buy before June 30
Online inventory at saks.com is thinner than it used to be, but there is still plenty to work with if you know where to look. The best approach is to go to saks.com, filter by sale items, and sort by price low to high. You will find options across beauty, skincare, accessories, home fragrance, and children’s items that come around $50.
Try a physical store if the website is thin but do not keep your hopes high
If saks.com is not giving you much to work with in your size or category, a store visit can be worth the trip though at this point, everything cheap might be gone.
One thing to avoid: do not use your credit to buy a Saks gift card. With Saks working through bankruptcy proceedings, gift cards carry a risk that a direct purchase does not. You could end up with a gift card that becomes difficult to redeem. Use the $50 on something physical that ships or that you can take home the same day.
How to make sure the credit applies
A few things that can trip people up when using this credit for the first time:
- You must be enrolled in the Saks benefit through your Amex account before you shop. The credit does not apply retroactively.
- The purchase must be made directly at Saks Fifth Avenue or saks.com with your Amex Platinum. Purchases through third-party sites or other cards do not count.
- Statement credits typically post within a few days of the purchase posting to your account. If it does not show up after a week, contact Amex.
- The deadline is when the purchase posts, not when you place the order. If you are cutting it close on timing in late June, shop in-store or give yourself a few days of buffer for online orders to process.
What happens after July 1
Amex has said it will add new offers for Platinum cardholders starting July 1, but has not disclosed what those offers are yet. If losing this credit changes whether the Platinum makes sense at its $895 annual fee, the full breakdown of the card’s current benefits is worth reading before your next renewal date.
What Other Credits are available on the Amex Platinum?
Here are some of the credits available on the Amex Platinum. Amex Platinum changes has positioned the card from a pure travel companion to a lifestyle subscription. At $895 a year, it can still deliver more value than it costs, but only if you’re the kind of person who keeps track of every credit. These benefits do change, so refer to our Amex Platinum guide for a definitive list.
| Credit | Before | Now |
|---|---|---|
| Lululemon | — | $75 every quarter at U.S. stores and online (excluding outlets) |
| Oura Ring | — | $200 each year, hardware only |
| Resy restaurants | — | $100 every quarter at U.S. restaurants on Resy |
| Uber One | — | $120 each year (auto-renewal required) |
| Hotel credit | $200 once a year | $300 every six months |
| Digital entertainment | $20 monthly | $25 monthly; adds Paramount+, YouTube Premium, YouTube TV |
| Clear Plus | $199 each year | $209 each year, matching July price increase |
Our Take
Fifty dollars is fifty dollars. Spend twenty minutes on saks.com, find something in the beauty or accessories section, and use the credit before June 30.
If you usually forget these credits, set a calendar reminder for mid-June so it does not slip past you.This is the last chance to get anything out of a benefit that has been worth up to $100 a year since 2018.
What was your experience? Let us know in the comments below.
