American Express and other credit card retention offers change, so I figured it's time to update my post from last year, Current Citi AAdvantage and AMEX Retention Bonus Offers, especially as I just had personal experience last night getting a retention bonus offer for my husband's AMEX Premier Rewards Gold card.
If you're new to calling for retention bonus offers, you may want to read advice from last year's post. In addition, I can't stress enough: If you want a shot at the best AMEX retention offers (and this goes for most other issuers as well–Chase, Citi, etc.), you need to use your card for more than just the minimum spend required to get the signup bonus. This only makes sense–after all, if you were the credit card issuer, wouldn't you want to save extra incentives such as bonus points and statement credits for your best customers?
A few more tips:
What Number Do I Call?
You can just call the number on the back of your card and ask for a representative, although you will need to be transferred from the agent you initially speak with to one specialized in retention.
What Do I Say?
To the first agent you speak with, instead of saying that you're cancelling, say that you noticed your card comes up for renewal soon, and since you're trying to decide whether to keep the card, you'd like to hear if there are any retention offers for your card. Depending on the agent you're speaking with, you may need to outright request to speak with a retention specialist, because you do need to get transferred in order to hear the various options.
Then, when you get through to the AMEX retention agent, this agent will usually try to go over all the benefits of your card to see if s/he can get you to keep it without offering anything. What you want to do, however, is to get offers. So I usually politely mention that I'm very familiar with all the card benefits (to try to avoid the long spiel extolling the card benefits) and note that while I like the card and earning AMEX Membership Rewards points, the card's annual fee is very steep so I'd appreciate hearing any retention offers or incentives that could mitigate the annual fee cost.
Another strategy that can work with agents determined to focus on the card benefits is to remind them of some key aspects that have diminished the attractiveness of AMEX Membership Rewards points or the ability to earn extra points:
- Loss of United MileagePlus as a transfer partner due to the Continental-United merger
- Loss of the AMEX online shopping mall to earn bonus Membership Rewards points
- Loss for U.S. cardmembers of the ability to refer friends for bonus points
AMEX Platinum Card ($450 annual fee)
- 50,000 Membership Rewards points (annual spend in low six figures)
- 25,000 Membership Rewards points
- 20,000 Membership Rewards points
- 6000 Membership Rewards points
- $400 statement credit + 5000 Membership Rewards points
- $400 statement credit (for member who spent ~$50K annually on card)
- $50 statement credit
- 20,000 Membership Rewards points now and 7500 Membership Rewards points after spending $3000 in 60 days
- 7500 Membership Rewards points now and 5000 Membership Rewards points after spending $500 in 60 days
- 7000 Membership Rewards points now and 5000 Membership Rewards points after spending $500 in 90 days
- $130 statement credit and another $75 statement credit after spending $3000 in 60 days
- $50 statement credit and another $50 statement credit after spending $500 in 60 days
AMEX Business Gold Rewards Card (3X/2X/1X, $175 annual fee)
- 20,000 Membership Rewards points
- 15,000 Membership Rewards points or $125 statement credit
- 10,000 Membership Rewards points or $100 statement credit
- $100 statement credit
Have you recently gotten a different retention offer for any of these cards? Let us know in the comments!
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