how often is the saks rebate from american express

The Amex Saks credit was historically offered twice a year on the Platinum Card, split into two $50 credits for a total of $100 annually. Recent reports say American Express is ending the Saks perk on July 1, 2026 , so this may be the last cycle for it.

How it worked

• The credit was usually divided into two semiannual periods.
• You could use up to $50 in each period at Saks Fifth Avenue.
• It was tied to eligible Amex Platinum cards, not every Amex card.

Current status

• Multiple recent articles report that Amex will remove the Saks Fifth Avenue credit starting July 1, 2026.

• That means the perk is no longer something to count on going forward, even though older guides still describe the old twice-yearly structure.

Practical takeaway

If your question is about the old perk structure, the answer is twice per year. If you mean today’s status, the better answer is that the perk is being discontinued in mid-2026.

TL;DR: historically, the Saks rebate was semiannual ; as of now, Amex is ending it on July 1, 2026.