Last chance: Amex Platinum’s Saks Fifth Avenue statement credit ends on June 30 – Image for illustrative purposes only (Image credits: Unsplash)
The American Express Platinum Card is losing its biannual Saks Fifth Avenue statement credit at the close of this month. Cardmembers who have not yet applied the January through June portion still have up to $50 available. The benefit will not return after June 30 following the parent company’s bankruptcy filing earlier this year.
Why the Credit Is Disappearing
Saks Global, the parent of Saks Fifth Avenue, filed for Chapter 11 bankruptcy protection in January. American Express announced the discontinuation of the credit in March as a direct result. The change removes one of the card’s recurring statement credits and leaves Platinum cardmembers with only the first half of the annual allotment this year. The credit had previously offered up to $100 annually, split into two $50 periods. With the July through December window eliminated, the remaining opportunity is limited to the current deadline. Cardmembers who miss the date will lose the benefit permanently under the updated terms.
How to Redeem Before the Deadline
Enrollment is required before any purchase can generate the credit. Cardmembers should visit the Rewards & Benefits section of their online American Express account to confirm participation. Once enrolled, purchases must be made at Saks Fifth Avenue stores in the United States or U.S. territories, or through the retailer’s website. No minimum purchase amount is needed to trigger the credit. Gift cards do not qualify. Online orders under $300 before taxes incur a $9.95 shipping fee, while orders of $300 or more qualify for free shipping. Statement credits can take up to four weeks to appear after the charge posts.
Practical Purchase Options Under $50
Saks Fifth Avenue carries many luxury items, yet smaller-ticket products remain available. Beauty items, accessories, and children’s clothing frequently fall within the $50 limit. Checking current sale sections increases the chance of finding eligible merchandise before the cutoff. Cardmembers can further increase value by routing purchases through a shopping portal such as Rakuten for additional cash back or points. Planning orders at least a week in advance helps account for shipping times and ensures the charge posts before June 30.
- Confirm enrollment in the Rewards & Benefits tab.
- Avoid gift cards and non-U.S. locations.
- Factor in potential shipping fees for smaller orders.
- Allow time for the credit to post after purchase.
The Saks Fifth Avenue statement credit for American Express Platinum cardmembers concludes on June 30. Acting promptly preserves the remaining value before the benefit ends.
