In previous posts, I’ve highlighted the importance of making a call to request a retention offer for a card. Especially for high annual fee cards, card issuers are often willing to offer incentives to keep you as a customer. While there’s no exact science, we’ve often seen issuers give lucrative offers to keep customers for another year. For example, I once called in and was offered 10,000 Membership Rewards points just to renew my Gold card. Conversly, I’ve been offered nothing for other cards where I’ve actually spent more. I’ve carried the business version of the Delta Amex Gold card for a year. As the annual fee posted, I called American Express to see what was on offer.
Amex Retention Offer
Here’s how the conversation panned out:
Me: I saw that Amex just charged me the annual fee and I’m calling in as I’m unsure about renewing the card for another year.
Rep: May I know why you’re not sure?
Me: I primarily use the card for Delta flights. As travel remains affected by Covid-19, I’ve drastically reduced both corporate and leisure travel. So, I’m not quite sure if I’ll be able to use these benefits if I’m not flying often enough.
Rep: Yes, I can understand that many people are in the same situation. Let me see how I can help you.
At this point, the rep put the call on hold. I was hoping for a quick response either way, but I was kept on hold for 5-7 minutes. After a pretty long hold, she responded with this.
Rep: Sorry, at this point of time we don’t think we can offer you anything. Would you still like to proceed and close the card?
The Pundit’s Mantra
This call was pretty bizarre in many ways, pretty similar to my Business Platinum card retention call last year. However, retention calls can often be hit and miss. There are a few variables at play – who the rep is, what offers are available and how much you’ve spent on the card.
I didn’t end up canceling the card eventually. I plan to wait and will probably call later to give it a try again. In the meanwhile you can refer to this post before you call your card issuer the next time and request a retention offer.
Also Read: Keep, cancel or downgrade your card? Here’s how you decide
Did a major card issuer like Amex or Chase give you a retention offer recently? If yes, what was it? Tell us in the comments section.
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Disclosure: The Points Pundit receives NO compensation from credit card affiliate partnerships. Support the blog by applying for a card through my personal referral links. This article is meant for information purposes only and doesn’t constitute personal finance, health or investment advice. Please consult a licensed professional for advice pertaining to your situation.
Also has Gold card for about 1 year and tried last week, no offer but tried to get me to do a product change to a no annual fee card. I Just tried this again today and was offered a weird retention offer…if it is even called that. The rep said there are no retention offers available for Gold, but if I wanted to upgrade to Platinum, I’d get 15,000 SkyMiles if I spent $1,000 in 90 days. Not too bad of an offer but still not worth an annual fee if I am not going to be using the… Read more »