American Express is axing the $100 Saks Fifth Avenue credit from the Platinum Card effective July 1, 2026. In its place, the company is expanding its airfare discount program into Platinum Member Airfares, now covering select domestic economy fares alongside premium international cabins across more than 30 airlines.
The move isn't subtle. Saks Global filed for Chapter 11 bankruptcy in early 2026, making that biannual $50 credit increasingly awkward to redeem anyway. Good riddance to the gaming—buying overpriced ties or random housewares just to trigger the statement credit was never the sophisticated flex some pretended it was.
Old vs. new structure is telling. Previously, you got up to $50 twice a year at Saks or saks.com (enrollment required, no minimum). The $200 airline incidental fee credit remained limited to bags, seats, and in-flight snacks on your one chosen carrier. Now the Saks perk vanishes for everyone after June 30, while Platinum Member Airfares delivers real discounts on actual tickets booked through Amex Travel.
Expect average savings of about $100 per ticket on eligible premium economy, business, or first class international fares. The program extends to the primary cardholder plus up to seven companions on the same itinerary. Select domestic economy routes are newly included, though participation there is narrower. You still earn 5x Membership Rewards points on flights (up to $500,000 annually) plus standard airline miles.[[1]](https://thepointsguy.com/news/amex-platinum-economy-discounts-ends-lufthansa-lounge-access/)[[2]](https://www.americanexpress.com/en-us/travel/platinum-member-airfares/)
Compare that to competitors. The Chase Sapphire Reserve's $300 annual travel credit applies broadly but doesn't discount fares directly. Capital One Venture X offers 10x on hotels and cars through its portal plus a $300 travel credit, yet lacks Amex's breadth of airline partners. The new Amex approach targets actual airfare utility instead of forcing you into a failing retailer's ecosystem.
Annual value calculation favors travelers who fly. Assume two round-trip business class bookings per year for you and a companion (four tickets total). At $100 average savings each, that's $400. Add the unchanged $200 incidental fee credit (still useful for Delta or United bags and upgrades), and you're looking at roughly $600 in combined travel offsets. Subtract the lost $100 Saks, and the net pivot delivers around $500 in newly practical value—call it $550 when factoring easier redemption and 5x earning on larger fares.
This isn't charity. Amex is steering high-spenders toward its travel portal while quietly shedding a perk tied to a bankrupt partner. The incidental credit always felt like a participation trophy; now the airfare program creates genuine savings for anyone burning serious miles in the sky.
Business travelers who previously ignored the Saks credit or struggled with it just got handed a better deal. Leisure users who treated the Platinum like a lifestyle coupon book might feel the $895 fee (up from prior years) a bit more. The card was never for everyone. It still isn't.
The timeline is straightforward: Use any remaining Saks credit by June 30, 2026. The enhanced Platinum Member Airfares program is live now—filter for it on amextravel.com or the app. New retailer Amex Offers are promised as partial replacement, but don't count on them matching real airfare discounts.
This is the right pivot. Amex finally prioritized utility over gimmicks for the audience that actually matters: people who fly business class and optimize every leg.
Action item: Log into your Amex account today, select your airline for the $200 incidental credit if you haven't, then book your next international business class trip through the Platinum Member Airfares portal before summer fares climb. The $550 annual edge is only valuable if you use it.