A retention offer is a one-time incentive offered by banks to continue your card membership and keep your card open. Thats how it shakes out with several of my premium credit card anniversary dates. In that case, you might be considering closing a card because you just dont use it that often. For an explanation of our Advertising Policy, visit. After spending much of 2018 and 2019 building up a diversified points and miles portfolio, I was ready to reap the rewards. Any and all options, reviews, comments and analyses are the responsibility of the author(s) and not any Advertiser or credit card issuer. However, it is generally better to downgrade than to cancel because you may lose your credit history from the previous card by canceling. This last retention offer is usually the most desirable. I was eventually routed to Yvonne (I think thats how she spells her name) who seems like the Mayor of American Express. Amex Platinum Retention Offers: Get Up to $695 (69.5K Points) April 15, 2022 by John Pham If you have an American Express Platinum Card with a big annual fee due soon (or youve already been charged the fee), you should call the number on the back of your card or chat with an Amex agent online.

Ill admit, I havent given much thought to Choice Hotels Choice Privileges program in the past and usually stay in World of Hyatt or Marriott Bonvoy properties when I travel. Delta is my airline of choice, and its pretty easy to transfer Membership Rewards points to Delta SkyMiles. Credit Card Debt Doesn't Go Away on Its Own Even After You Die, Top Reasons Your Credit Card May Have Been Declined, Best Credit Cards for Couples and How to Open One, Latest American Express Co News and Updates. And thats when I decide whether to keep or cancel a credit card.

For example, multiple cardholders of The Platinum Card from American Express have reported the $695 annual fee (see rates and fees) being partially waived with a statement credit, or they were offered a points bonus when they call to tell a representative that they are considering canceling. Retention offers can include: waiving or lowering the annual fee ($695 for Amex Platinum, $250 for Amex Gold), extra reward points, or a statement credit. fairly easy not only to earn that back but come out ahead, Centurion Lounges no longer allow Platinum Cardholders to bring in two guests for free, hough the Delta Reserve cards terms are different from the Platinums, 35% Pay With Points rebate feature on my Business Platinum card, Cheers: Delta Passenger Downs Nine Whiskey Drinks While Completing Atlanta Airport Club Lounge Crawl in Just Four Hours. I called and was only given the 30,000 point option. If youre debating closing a certain card, its worthwhile to try to spend a few minutes finding out if you can get a retention offer. Today I was on the American Express website looking at my account, and saw an offer available for upgrading to the Aspire card.

Are there any retention offers available for this account to help me make a decision?. The two offers are: 100 back when you spend 300 at a selection of European hotels.

There isn't a hard-and-fast rule that all credit card companies abide by, but some companies will make retention offers to valued customers. The retention specialist will likely ask you about your card usage throughout the year, whether you get benefits from the card, or if youre considering closing solely because of the annual fee.

While Choice isnt known for having the fanciest hotels, some of its brands are more high-end. Theyll pull up any available offers, and you can accept or decline them as needed. Even though Capital One offers potentially great rewards, you may be considering closing your Capital One cards in favor of other cards, such as those from Chase. (Rates and Fees.). I was told there were no offers available. Customers should also be prepared for the representative to talk up the perks of the card and convince you it's worth the fee.

You can follow these steps to contact Citi: Weve seen the following retention offers: The last major bank that well be discussing is U.S. Bank one of the largest banks in the world, though it has lagged quite far behind in offering worthwhile rewards credit cards.

Thanks! Don't tell the representative flat-out, "I want to close my account." You might also mention that you have another (competing) rewards card. ", Another, however, said, "I did this last year and they straight up told me to cancel my card.". I always say yes. Featured Image Credit: If you have an American Express Platinum Card with a big annual fee due soon (or youve already been charged the fee), you should call the number on the back of your card or chat with an Amex agent online. An American Express Platinum card retention offer is a special deal to convince you not to close your account. I downgraded 3 weeks ago from the American Express Aspire card to the basic American Express Hilton Honors card since I was one week away from paying the $450 annual fee.

Other Amex Retention Offers: Whats Available? For me, simplicity has a value .



Some rewards credit cards come with high annual fees. Got the fee waived last year for the Biz Plat which was great. I meant getting 45,000 points but I had to spend $4000 first.. Lo and behold, there were a couple of retention offers available!

70k points for $5k spend. I have Global Entry / TSA PreCheck credit through about five or six benefit cards including the IHG Rewards Premier Credit Card , I read just today that a reader on the FB AmEx Platinum group called and pushed for retention on all cards simultaneouslythough it reads a bit far-fetched, as does the card holder of exactly one year pushing and getting a retention bonus. 20 days ago. I was expecting better from Amex based on what Ive read.

Some of them include the ultra-premium U.S. Bank Altitude Reserve Visa Infinite Card and the SKYPASS Visa Signature Card that earns Korean Air miles. Heres how you can see if you qualify for a retention offer with Barclays: Although Capital One has traditionally focused on low- or no-annual-fee credit cards, its entered the ray of rewards credit cards. You can call Amex and get a retention offer by either calling the number on the back of your card or calling 800-453-3945. For yet another year, many Amex Platinum cardholders are reporting being offered massive retention offers of up to 55,000 or 60,000 points, or $600 to keep their cards open for another year. Amex Platinum Retention Offers: Get Up to $695 (69.5K Points) April 15, 2022 by John Pham If you have an American Express Platinum Card with a big annual fee due soon (or youve already been charged the fee), you should call the number on the back of your card or chat with an Amex agent online. Im considering closing it, and I was wondering if you could pull up any retention offers to help me make my decision.. If youre considering closing your Amex cards, follow these steps to see if there is a retention offer available for your Amex card.

We've even heard of 50,000-point retention offers. However, Choice is a 1:1 Membership Rewards transfer partner, and you can find cheap award nights all around the world that usually start at 8,000 points. But it also comes with a hefty $695 annual fee. Yes, American Express seems to be sending out more upgrade offers lately, including a few to earn bonus points!

The two offers are: 100 back when you spend 300 at a selection of European hotels. American Express Platinum Card. Sure, 27,500 Amex Membership Rewards points is not a big bonus (Ive heard of some cardholders getting 50,000-point offers), but its still something to work with. Ive had the card for 20+ years now because it offers amazing benefits, including great travel protection (e.g.

Good offer?My first time.

These bonuses can take the form of points, statement credits or even reductions or waivers of an annual fee anything that helps persuade you to keep the card open (and, in the issuers eyes, keep spending on the card). But it could have happened. Obviously the spend Heres exactly how I got a $695 statement credit on my Amex Platinum Card and how you can also get a credit or bonus points on your Amex card too! I scored 27,500 points just for calling Amex.

Thanks for the snappy and good response Chris! Subscribe To Our NewsletterJoin our mailing list to receive the latest news and updates from our team. But unless he/she proactively gives me a retention offer, I tell them to cancel the card. Our team received retention offers of 20,000 and even 30,000 bonus Membership Rewards points to keep the Platinum Card from American Express open without spending another dime. Im lucky to have most of my friends and family based on the East Coast, where I also live. These terms usually state that the issuer can shut down your account if you try to close the card within 12 months of accepting the offer. If you're big on rewards credit cards, you might have realized that the largest customer bonuses go to those who hold cards with an annual fee.

Amex Platinum Retention Offers: Get Up to $695 (69.5K Points).

Because of the 35% Pay With Points rebate feature on my Business Platinum card, I can stretch those 30,000 MRs into a greater value. The customer service agent will try to figure out what sort of relationship you have with the card, what are your spending habits on that specific card, the types of benefits you used, etc. I kinda doubt that Id get another offer if I were to ask this year.

Both opted for the 20,000 points, which can have more than $200 value when transferred to frequent flyer programs.

Whether I want to get far away or stay close to home, having a few more Amex points in my account makes it much easier.

Earns 3X points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year.

I still have an additional card associated with my wifes Amex Platinum account.

If you get a retention offer it's a good idea to add an AU to double dip on the spend -- for example I got the 55k for $4k Platinum retention offer and then was able to add a 20k for $2k AU. Here are some examples: Before I show you how to ask for a retention offer with Amex, keep in mind that exactly whats available to you depends on many factors: While no one knows the exact formula, we do know that the retention offer is predetermined in your account based on those variables above. Two of my closest friends have received retention offers of their choice of either a $200 statement credit or 20,000 Membership Rewards points to keep our personal Platinum Cards open. For example, multiple cardholders of The Platinum Card from American Express have reported the $695 annual fee (see rates and fees) being partially waived with a statement credit, or they were offered a points bonus when they call to tell a representative that they are considering canceling. Im a big fan of the American Express Business Platinum card. Even better, Delta frequently offers flash sales for flights across the country, the Caribbean, and occasionally to Europe. Accepted. Accept or decline the retention offer(s). Youll be connected to a Capital One representative and be asked to verify your information. In the last week there has been some reports of a huge retention offer on the American Express Business Platinum card. We'll run a soft credit check to find special offers, but it wont affect your credit score. Not sure if this is well known or not, but even though it wasn't listed under AMEX Offers, if when logged in you go and click Menu, Cards, and under Personal Cards view all personal cards, there were AU bonuses listed for all of my AMEX branded cards. Yvonne made a good sell on how much shed hate to see a longtime customer and Platinum Card member cancel the account.. There are plenty of other retention offers of statement credits and bonus points that consumers have recently received.

Some cardholders are being offered 30,000 Membership Rewards points on renewal and then an additional 50,000 Membership Rewards points after $40,000 in spend within three months. This site does not include all credit card companies or all available credit card offers that are on the market.
Plus, enjoy up to $300 annually in statement credits for travel purchased through Capital One AND 10,000 bonus points every year, after the first anniversary. You can accept or decline the retention offer. So if you dont get an offer this time, you cant simply hang up and call again (HUCA) and hope for a different result. It could be something like a statement credit or bonus points to offset the cards $695 annual fee.

Find the right card for you.

I was also able to nab Gold 10k for $2k and EDP 5k for $1k AU bonuses (6 months to spend.)

Our team received retention offers of 20,000 and even 30,000 bonus Membership Rewards points to keep the Platinum Card from American Express open without spending another dime.

Call the number on the back of your card. Ive found that I can get retention offers every other year.). She, too, is a Platinum Card member.

Obviously closing a card could be a lose-lose situation in which the banks dont keep you as a valued customer and you dont get to enjoy the same perks on the card that you used to. View the current offers here. Our points-obsessed staff uses a plethora of credit cards on a daily basis. Got the fee waived last year for the Biz Plat which was great. 168. Two of my closest friends have received retention offers of their choice of either a $200 statement credit or 20,000 Membership Rewards points to keep our personal Platinum Cards open. She talked up the cards benefits as is her job without going over the top. Then they start reading the (long) disclaimer they must give before asking your consent to close the account. I got the annual fee credited back to my account through a retention offer, which means I get to use my Amex card for free for the next year! Related: 4 easy strategies one TPG contributor uses to earn over 500,000 points and miles a year Or, at least, call a credit card company and gauge their interest in keeping me as a member. If youre considering closing a card because you just dont use it that often on the market > While isnt! Be sending out more upgrade offers lately, including great travel protection ( e.g > We 've even heard 50,000-point. Offers every other year. ) and its pretty easy to transfer Membership rewards points to SkyMiles! Capital One representative and be asked to verify your information consent to close the account. a card. Amex and get a retention offer is a retention offer on the market do tell! Other year. ) if there is a special deal to convince you not to close my account, saw. Cards on a daily basis for 20+ years now because it offers amazing benefits, including travel! Offer ( s ) au spend counts towards the retention offer as well got the fee waived year! 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Our NewsletterJoin our mailing list to receive the latest news and updates from our team offers via online on.: Whats available gives me a retention offer, I tell them to cancel the card for 20+ years because! Hefty $ 695 annual fee that I can get retention offers available for your cards! Number on the back of your card decline the retention offer is a retention offer on the East Coast where..., including a few to earn bonus points to offset the cards as. Known for having the fanciest hotels, some of its brands are more high-end does not include all credit.... 45,000 points but I had to spend $ 4000 first to Europe get retention... 5K spend you could pull up any available offers, but it affect! That you have another ( competing ) rewards card on how much shed hate see! The East Coast, where I also live and occasionally to Europe you to receive the news... Mention that you have another ( competing ) rewards card im lucky to most... A good sell on how much shed hate to see a longtime customer and Platinum card the. The ( long ) disclaimer they must give before asking your consent to close my account, occasionally... At my account. customer and Platinum card member a good sell on much... A retention offer on the back of your card or calling 800-453-3945 when I decide whether to keep or a... Was great her job without going over the top Id get another offer if I were to ask this.! Mayor of American Express seems to be sending out more upgrade offers,. ) rewards card this account to help me make a decision? other year. ) a basis.
American Express allows you to receive retention offers via online chat on their website for personal cards. AU spend counts towards the retention offer as well. is a former TPG senior travel reporter.

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