February has always been a busy month for me in the world of credit cards. This time around, 3 annual fees totaling $985(!!) hit simultaneously. Of course, I had no intention of paying that much in annual fees in one shot (in fact, I don’t even pay close to that much in a year), and I was prepared to spend a few minutes on each with a retention call.
In the past, I’ve had incredible luck with getting great retention offers, but I feel that as time goes on, it’s getting harder and harder to get a decent offer, so I wasn’t expecting much (and to be fair, I had every intention on paying one of the annual fees anyway since I find the card benefits to be extremely valuable).
Here’s how I made out:
The Business Platinum® Card from American Express OPEN
I have been a Business Platinum cardholder for  4 full years, and I’ve always found it to be beyond “worth it†to continue paying the $450 annual fee. When I called to see if there would be any retention offers available for me, I explained that there are an array of competitive cards out there such as the Citi Prestige and Chase Sapphire Reserve, and I also mentioned that I was disappointed about the changes to Centurion Lounge access by the end of the month. Beginning March 30, 2017, Amex Platinum members will be limited to only bringing two guests into Centurion Lounges. Previously, the rules states that you could bring two guests -or- all immediate family members. As a family of 4 with two small children, this means I will have to pay $50 to bring my 2 year old into the lounge. After expressing my concerns, the representative offered me a $100 statement credit to off-set the fee a little bit. I accepted the offer.
Citi Prestige® Card
I’ve had my Citi Prestige card for 2 years now, and I definitely make great use of it. My favorite benefits are t4th-night free for hotel bookings, 3x on travel, and what I consider to be the best trip protection/interruption insurance out there (Citi seamlessly replaced my damaged double stroller). The $450 annual fee is already offset each year with an annual $250 airline credit, and I believe the rest of the card’s benefits are worth paying the extra $200 for. However, there are some card-benefit devaluations happening later this year, such as losing access to American Airlines’s AAdmirals club lounges and changes to the 4th-night free hotel benefit, so when I called to speak to a retention specialist, I made sure to voice my concerns about those changes. Since I had put $21K on the card in 2016, I was offered a $200 statement credit to off-set my annual fee if I spend $4,000 on the card each month for the next 3 months. Even though that spend requirement is high, I did accept the offer.
The Marriott Rewards® Premier Credit Card
I already knew I was going to keep my Marriott card, but for giggles, I called to see if there would be anything they could offer me. Even with the $85 annual fee, the Marriott card comes with an annual free night certificate for a category 1-5 property. It’s always been a no-brainer for me to keep the card open solely for that benefit because I always have used my free nights. My most recent free-night redemption was at Bangkok Marriott Hotel Sukhumvit, and it was a gorgeous property. Though I really had no intentions of canceling this card, I was curious to see if I had any retention offers available to me. When I called to speak to the retention specialist, I told her that I didn’t know what the future of the card would be now that Marriott and Starwood have merged, and I currently have both the Marriott Visa and the Starwood Preferred Guest® Credit Card from American Express, where I also pay a $95 annual fee. I barely put spend on my Marriott card, so I was not surprised to learn that my retention specialist had nothing to throw my way, so I thanked her for her time and went on with my day.
How has your luck been this year with retention offers?
Honestly, I’m glad AMEX is charging for more family members. Lounges were already overcrowded, and a 2 year-old really doesn’t belong in a lounge. I’m sorry if that’s rude to say, but people go to a lounge to relax, have a drink, do work, etc. Not to be surrounded by children.
Keith, while I respect your opinion, most centurion lounges have family rooms where young kids can hang out. I also use the lounge to relax, drink, and work too. I pay the same annual fee as you do, so I can guest whomever I want to, including my two year old.
I mostly go to lounges on business travel, but after experiencing a group of businessmen having a loud conversation for 30 minutes, or a group of young Brits competitivey shouting their stag weekend exploits, I wasn’t hesitant to take my 3-year-old last time.
I agree. I was very happy when Delta made the changes to the SkyClub rules, sometimes the clubs were becoming more like Romper Room than a business lounge. The congestion on the clubs isn’t nearly as bad now that they stopped allowing Am Ex members to bring in guests for free and the food offering is a lot better.
I always though it was unfair that someone can guest in an entire family but I could only guest in two business associates and would have to pay for other adults when I don’t use guesting privleges much.
I wish they had more lounges though. I’m planning on cancelling my Am Ex when it’s up for renewal, I signed up for the CHase Sapphire card when they still had the generous sign up bonus of 100,000 points and I get priority pass with that along with 4.5% on restaurant and travel purchases
The $95 annual fee for my AMEX SPG card recently showed up on my statement. I called to see if there was anything that could be done, and to my surprise, I was given a $100 retention bonus to keep the card!
Wow that is such a pleasant surprise!
I called Citi for a rention offer on my Presige card. I got nothing despite ~40 k in spend. I got shot down for Chase Sapphire Rserve so I may end keeping the Citi prestige.
Am Ex gave me $250 off my annual Delta Reserve fee and I only charge $60K a year on it for the MQMs. I would have kept the card regardless but no brainer since the annual fee is less than a skyclub membership and with the diamond benefits increasing with Delta next year I can turn my free diamond Skyclub membership into an exec membership for free or get another choice gift
Yes that’s a huge value all together and a no-brainer to keep the card. That’s great you were able to get $250 off the fee. I was surprised with my $100 because I felt that Amex hasn’t been as generous recently
Hey Angelina!
New reader of your blog here. I’ve never made a credit card retention call before, though I’ve been meaning to try. Any tips on what to say or how to go about it (besides the obvious “I’m not sure if it’s worth it with the fee, is there anything you can offer me as an incentive to keep the card”)?
I must admit I’m not that big on lounge privileges myself, as I prefer to explore the airport personally rather than sitting in a lounge, but Delta’s free checked bags with the CC has probably saved me hundreds.
Hi Anastasia! Thanks for stopping by and welcome to my blog :) I am so happy that you’re a new reader. Your comment actually inspired me to create a blog post explaining how I do my retention calls. I will definitely answer all of your questions and give you guidance in an upcoming post. I hope to have it up sometime tomorrow! Thanks again for reading :)
I had great luck getting a retention deal with my Citi Prestige card a few months ago! Citi offered me 4 extra TY points for every dollar I spend on flight tickets for the next six months (up to $8,000). So I can earn up to 32,000 extra TY points with this offer, which more than makes up the $200 I had to pay for the annual fee (as the fee is $450, minus the $250 airline credit). Yay! Of course spending $8,000 on flight tickets over 6 months isn’t feasible for most people but luckily my friends and family fly a lot. I get to charge all the flights on my card and then they pay me back. :)