So reading all of the posts today got me thinking about retention offers. I never knew they existed.
Can someone tell me what I would need to say or do to try to get them on both my Amex Platinum (at least 7 years old at this point) and Citibank AA Platinum (super old, my first Citi card was turned into this years and years ago - the original acct is over 20 years old). Anyway, now that I know it's a "thing" it would great to not keep missing out on the points. Any advice is appreciated!
Thank you. I wasn't sure if there was something special we needed to say. I figure it's definitely worth a try!
This pertains to the Amex Platinum, but can be applied more generally. Since you’re well over a year into holding the Platinum, you could call just before your AF is about to post to fish for an offer, take it or think about it, and after your AF posts if you didn’t like the first offer, and again before the AF is due. Amex will refund the AF if you cancel a card within 30 days after the statement in which the AF posts.
The Amex retention department can be reached at
1-800-452-3945. However, I don’t think Amex calls it the “retention department,” even though that’s what they’re there for.
Before you call in, you should check out FlyerTalk’s thread on Amex retention offers for the latest data points on what people are being offered to keep their cards open. This way, you can familiarize yourself with the range of offers on your card product and whether what’s ultimately offered to you is good or bad. You can follow the thread here:
https://www.flyertalk.com/forum/ame...812751-american-express-retention-offers.html
When you call in, you can say something along the lines of, “The annual fee on my card is about to post (or just posted), and I’m evaluating whether to keep the card or cancel it. Do you have any offers or incentives that’ll help me decide to keep the card?” Don’t be afraid to say “cancel,” because that’s often the trigger word for Amex to make you some offers. If the Amex rep asks if you want to cancel, without making you any offers, tell them “no, I haven’t decided to cancel at this time, but I’m evaluating my options,” and ask again if they have any offers for you. Amex will not cancel the card without reading you a long list of disclosures and getting your affirmative consent. So don’t worry about that. The rep may also try to sell you on the value of the card’s benefits, particularly when it comes to the Platinum. Even if you really love the Platinum’s benefits, this is a sales tactic you shouldn’t fall for because it’s in your interest to downplay their value to you. You recently got a CSR, which Amex views as a serious competitor to the Platinum, so you can leverage having another premium travel rewards card against Amex. The CSR has a lower AF, an easier to use $300 travel credit than the Platinum’s $200 airline fee credit, you might not use Uber, the UR points are easier to earn and worth more to use through the Chase travel portal, the CSR also gives you access to the Priority Pass Lounges, the CSR has better trip delay/interruption and rental insurance, etc. If you don’t like the offers Amex gives you when you first call in, tell them you’d like to think about it, hang up and try again later. You might get a different offer after your AF posts.
Amex retention offers are attached to your account and can change periodically. The Amex rep is likely just reading whatever offer is available to your account that comes up on screen. Factors that can influence retention offers include how much spend you put on the card in the past year, whether you’ve used up any of the card benefits, whether you got a retention offer last year (retention offers are once per 13 months), and I’m also guessing more broadly their retention rate for that card product at the time and even time of year. Anecdotally, people have called before their AF posts, after their AF posts, and just before the AF is due to see if they get an offer, and if they don't like it HUCA later to see if they get a better offer.
I've called on a weekday early morning (Pacific Time) and got a sh*t offer on my Amex PRG; called about a week later on a weekday afternoon, same sh*t offer; called a week later on a weekend morning, same sh*t offer. About a month later, I saw numerous DPs of much better retention offers on the PRG. Most recently on my Platinum, I called in on a Saturday early morning, and got an almost irresistible retention offer of 30k MR with no spend requirement, but I also did put $25k/yr. on the card, double dipped the airline credits, used all my Uber credits, saved ~$200 on Amex Offers, and had my wife as an AU for another $175, so I’m guessing Amex really wanted me to pay another AF or they’d be losing money on my card.
If you don’t get a good offer, don’t be afraid to close it. But make sure the primary cardmember has another MR-earning card to keep the points in that account alive, or else canceling the Platinum — if that’s the only MR-earning card associated with the account — will wipe out all the MR points in the account. Amex has fee free MR-earning credit cards that can hold MR points as you cancel higher fee cards that don’t give you a reason to keep them. Or, before you cancel the Platinum, you could apply for another one of Amex’s Platinum card’s like the Charles Schwab or Ameriprise versions, so you get to keep the benefits and at least for the Charles Schwab Platinum card get a new signup bonus (might as well if Amex won’t give you a good points offer to keep your existing Platinum).
Hope this helps.
But we survived, and then had a relaxing and relatively cool few days with our friends in San Diego. The Holiday Inn Express & Suites in Anaheim was nice; our room was big, with 2 queen beds and a sectional sofa that was also a sleeper. And the walk to the parks wasn't bad. Once I can get my pictures uploaded I'll post a full review.
