The $95 annual fee recently posted to my Delta SkyMiles Gold Business American Express Card. I have plenty of other Amex products better suited for my spending and award habits — and didn’t plan to renew the card.
But Amex pulls out surprises every so often when you place retention calls. I figured five minutes out of my day to see if any good retention offer were available could be worth time — and money.
My IHG Rewards Club Premier Credit Card from Chase is due for its first annual renewal — which means time for a retention call!
Would Chase show me some love like American Express did with my Amex Gold and Delta Platinum retention calls?
Here’s what happened.
American Express didn’t show any love for its consumer Gold Card when the bank announced a number of statement credits. So I placed a retention call.
My personal/consumer Delta Platinum American Express Card‘s annual fee is up for renewal. I’m looking to cut some expenses — especially on cards I don’t really use.
There is a good reason to keep the Delta Platinum Amex and we’ll address that in a minute.
Plus, I didn’t expect Amex to give me a worthwhile retention offer — if any.
So in the days leading up to my Amex call, I transferred a significant chunk of the card’s available credit over to my personal Delta Reserve Amex. I did this so my FICO score wouldn’t suddenly be affected by a loss of available credit when I pulled the Delta Platinum’s plug.
The $550 primary cardholder annual and $175 authorized users fees were both due this month for my Platinum Card from American Express.
This was the first premium Amex card. My dad has had one forever and that was my introduction to Amex. So there was a little sentimentality involved. But I had to put emotion aside in the name of good economics.
I was recently struck by the sticker shock of a premium charge card’s annual fee. Actually, two of them arrived within a few days of each other. Both were Amex Platinum cards: one for the personal card‘s fee and the other the business flavor‘s.
The annual fee is due for my Delta Reserve American Express card. But I truly couldn’t definitely decide whether or not to keep or cancel it. With upcoming, sweeping changes across the Delta American Express spectrum, I called Amex to see if they had any good retention offers.
Here’s what happened.
Time for “retention calls” after latest Chase IHG Mastercard MEGA devaluation. This was the only card I never called about – well, not anymore!
Rookie Wednesday: Leveraging the past year’s devaluations for your card retention calls.
My Citi Prestige retention offer 3Mx4K spend for $200 credit – I will keep the card 1 more year!
I hate paying annual fees on credit cards. Well I take that back, I hate paying fees on cards that don’t provide enough value to offset the fee for the card. For example, non-Delta The Business Platinum Card® from American Express OPEN <—LINK I don’t mind paying the $450 $595 annual fee one bit. Why? I get: $200 / year incidentals credit. $20 / year for my GOES (i.e. $100 every 5th year) $80-240 in GoGo pass value $60 in BOINGO value $50 per visit Centurion club value I could go on and on but the bottom line is the real value of the perks offsets the cost of the fee to me. But that is NOT the case for most other cards. So we have the annual ritual of the retention call (see E13 Essentials post) to see if the card companies want to keep me on for another…
Back in January I had a post about AMEX retention bonus points and I have had it in my “Essentials” tab for quite a while. But I think it could use an update so here it is and some Q&A. Q1) What is a retention bonus? Q2) What is a challenge? Q3) When should I call? Q4) What should I expect to get? Q5) What will help me get more points? Q6) Will my points I have earned go away? Q7) Are there ways not to cancel a card and still avoid the annual fee? Q8) Does it hurt my credit score to cancel a card? Q9) Can I get the same card and new card points again? These are all very common questions and the answers are not all the same for all banks so please keep this in mind. Also, results can be very different from person…
This post contains references to products from one or more of our advertisers. We will receive compensation when you click on links to those products. For an explanation of our Advertiser Disclosure, visit this page. Some have used my links for a Delta AMEX, and I thank you all so much for supporting the blog, so now you want to know about maximizing miles with a retention bonus. Here are some facts. 1) NEVER cancel a card inside of 6 months. It looks bad on all fronts! 2) ALWAYS DO call about 8-10 months into card ownership for extra points 3) 11 months in call for a change to no fee or more points to stay 4) Be sure to ALWAYS know your what your credit score is. BTW you can check the impact FREE here 5) With Delta cards cancel and switch may be best move ( personal to…