The AF on my SPG personal card posted, so I called Amex for a retention offer. Got 20k Marriott Points for $2k spend in 3 months. Took it.
I called the usual Amex retention line at 1-800-452-3945. The Amex rep tried to sell me on the addition of the 35k FN cert as a new benefit to the card, that it's worth $300-400, and the AF staying the same. I said I do like some of Marriott’s properties, but I’ve been pretty unhappy with some of the changes that’s happened under the new Bonvoy program. I told him I don't know what value I'd put on the FN cert. That Marriott moved several hotels we usually stay at, or would like to stay at up a category, from 35k to 50k; and that Marriott plans to introduce peak pricing this year while the FN remains capped at 35k, so I may not even be able to use it at a Category 5 property. He said, but there's no peak pricing now so I could use the FN on a room worth $300-400 before then. So I said, I also don't have the FN cert now, and you guys don't deposit that certificate for 2-3 months after my card anniversary; I've already got my travel booked for the rest of the year, so by the time I actually get the certificate and get to use it, I may not even be able to use at a Cat 5 hotel. He tried to suggest that off peak pricing would be 30k, less than the 35k cert, and peak pricing only brings a Cat 5 up to 40k.

So I was like, if the award rate is 30k, why would I use a certificate worth 35k and lose out on 5k points, when I can just use my points for the 30k? But with a kid in school, we're usually traveling when everyone else is traveling anyway so I'm pretty sure we'll be hit by peak pricing. He's like, but that's only 5k more. And I'm like, that's fine if I can use the 35k cert and chip in another 5k of my points to make up the difference. If that's how it'll work, great; but if not, then it's like I've been saying, I don't know what value that certificate is to me.
Fortunately, the rep didn't mention the lack of spend on the card outside of MSR and spending bonuses. Don't even get me started about the base earn devaluation on the SPG cards.
At this point, the rep was almost rude and said something like, well I'm sorry you don't like the program, so do you wanna keep the card or not? Because I have a retention offer for you. I'm like,
that's what I was asking for from the start!
I'm a little sorry I gave the guy a hard time. I was going to keep the card anyway, but I'm not going to pass up the chance to get a little more out of my decision to renew. Retention calls are a bit like negotiation, you have to make them think you'll walk even though you really want to stay and make a deal. I think I might've gone a little too far talking smack about the Bonvoy program. Anyway, I now have a combined $6k in retention offer spend to work on this month. We go through MSRs way too fast, but I've been trying to bide my time by not going for new cards until June. These retention offers help.