September 16, 2021|AMEX, Bonvoy, Retention Bonus

by Eric Lipkind

Every year after the annual fee posts to one of my cards, I call the card issuer to see if there are any retention offers to keep the card.   Here are my latest findings from my attempts in the last month. 

American Express:

I had two different AMEX Marriott Bonvoy Business cards charged with an annual fee.   I called the retention line (800-452-3945) separately to mess for each card.   On the first card, I was offered 15,000 Bonvoy points immediately and another 30,000 Bonvoy points if I spent $2,000 in the next 92 days.  This was a no-brainer, so I accepted the offer.  At a value of $.008 per point, this offer is worth $360, which greatly outweighs the annual fee of $125.   Additionally, I am still receiving the annual 35,000 point free night certificate and the $15 monthly wireless credit.  The benefits certainly outweigh the annual fee.

For the second card, I was offered a $50 credit and another $100 if I spent $2,000 in 90 days.   I asked if there were any other offers and was then offerred the same offer as was given on the other card.    I went with the points offer as it was worth more than the $150 cash offer. 

In general, American Express has been very generous with retention offers. 

Chase

The annual fee of $625 ($550 fee plus $75 for additional cardholder) was charged on my Chase Sapphire Reserve card.    

I called the number on the back of my card and asked for the Retention department.  I was told there were no retention offers and no annual fee reduction offers like last year, so I need to decide if it is worth keeping the card. 

Citibank

The annual fee of $495 was charged for the Citi Prestige card.   I called the number on the back of my card, asking if there were any retention offers to keep the card.  I was careful not to say I wanted to close the card, as in the past, Citi closed it at the hint of me considering it, and I had to jump through hoops for them to reopen the card.   I was transferred to the retention department.  Here too, there were no retention or annual fee reduction offers.   I am debating on whether to keep this card as well. 

As I’ve said in the past, ALWAYS ask for retention offers, even on cards with no annual fees.   I’ve received retention offers on the AMEX Blue for Business Plus cards that have no fees.

What has been your experience lately with retention offers?

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