American Express has announced upcoming changes to the terms for its popular SAS EuroBonus co-branded credit cards in Sweden and Norway. Effective January 29, 2026, cardholders will see an adjustment in the monthly fees for the Premium and Elite cards, along with a new rule affecting how Status Points are earned.

While the core benefits like the 2-for-1 voucher remain intact, these updates require a quick review to ensure your card strategy is still optimized. Here’s breakdown of exactly what’s changing and what it means for you.

In This Post

Summary of Key Changes (Effective January 29, 2026)

  1. Fee Increase: The monthly fee for both the SAS Amex Premium and SAS Amex Elite cards will increase.
  2. New Status Points Rule: A new condition will apply to earning EuroBonus Status Points (Nivåpoäng) for SAS Amex Elite cardholders.

These changes apply automatically to all members from the effective date.

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New Annual Fees for SAS Amex Premium & Elite

The most significant change is the price adjustment. The increase is moderate for the Premium card and more substantial for the Elite card. Here is a clear comparison of the old versus the new fee structure.

SAS Amex Fee Changes (Effective January 29, 2026)
Card Current Monthly Fee New Monthly Fee New Annual Fee Annual Increase
SAS Amex Premium card
SAS Amex Premium
135 kr 150 kr 1,800 kr +180 kr
SAS Amex Elite card
SAS Amex Elite
500 kr 575 kr 6,900 kr +900 kr

The SAS Amex Classic card remains free of any annual or monthly fees.

New Rule: Earning Status Points with a Negative Balance

For SAS Amex Elite cardholders, American Express is introducing a specific condition related to the 20,000 annual Status Points benefit.

⚠️ Important Update for Elite Cardholders

If your SAS EuroBonus account has a negative points balance, you will stop earning Status Points from your Amex Elite card spending.

  • When does this happen? A negative balance can occur if you get a refund for a large purchase after the EuroBonus points for it have already been awarded, leading to a points clawback.
  • How it’s resolved: Status Point earning will resume automatically once your EuroBonus points balance becomes positive again.

This change is designed to prevent earning status benefits when an account is in a points deficit. While it will only affect a small subset of users, it’s an important detail to be aware of, especially if you anticipate making large returns.

What This Means For You

For SAS Amex Elite Cardholders

The 900 kr annual increase is significant. You’ll need to re-evaluate if the card’s premium benefits still justify the new 6,900 kr cost.

  • Key Value Proposition: The primary benefits remain the 20,000 Status Points (which get you halfway to Silver status) and the ability to earn two 2-for-1 vouchers usable in Business Class.
  • Break-Even Analysis: For most members who maximize one or two Business Class redemptions with the vouchers, the card’s value will still far exceed its annual fee. However, the hurdle is now slightly higher.

For SAS Amex Premium Cardholders

With only a 180 kr annual increase, the value proposition of the Premium card is largely unchanged. It remains a solid mid-tier option for earning EuroBonus points and a 2-for-1 voucher (valid in Economy and Premium Economy).

SAS Amex in 2026: Frequently Asked Questions

Your Questions Answered

When do these changes take effect?

All changes will be implemented on January 29, 2026.

Is the SAS Amex Classic card affected?

No. The SAS Amex Classic card continues to have no monthly or annual fee.

Do these changes affect the 2-for-1 voucher?

No. The earning requirements and usage rules for the 2-for-1 vouchers on all cards remain the same. Our SAS Amex 2-for-1 Voucher Guide has the most current information.

How can I check my EuroBonus points balance?

You can see your current points and status points balance by logging into your account on the SAS website.

Should I cancel my Elite card because of the fee increase?

It depends on how you use its benefits. If you consistently use the 2-for-1 vouchers for long-haul premium cabin travel, the value you save in points likely still outweighs the new 6,900 kr fee. If you struggle to use the vouchers or don’t value the 20,000 Status Points, it may be time to reassess.

Final Thoughts

While fee increases are never welcome news, these changes from SAS and American Express are relatively straightforward. The value of the Elite card is now more squarely focused on those who actively use its top-tier travel benefits, while the Premium card remains an accessible entry point to valuable perks.

The best strategy is to review your travel patterns and spending to ensure your chosen card still aligns with your goals in 2026 and beyond.

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