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Credit Card Retention Offer Request: Dummy Easy Step-by-Step Practice

I just got 55,000 American Express points

We talked about the credit card retention offer before: Retention Offer Before Closing the Credit Card. Today, one of my American Express Platinum cards is due for an annual fee, so I decide to ask for retention before I consider closing the card. Before start, I want to give you a simple breakdown of the platinum card benefits:

  • $200 Airline Credit
  • $100 Saks Fifth Avenue Credit
  • $200 Uber and Uber Eat Credit
  • $240 Entertainment Credit(Audible, Disney+, The Disney Bundle, ESPN+, Hulu, Peacock, SiriusXM, and The New York Times )
  • $189 Clear Credit(Airport Security program)
  • Free Global Entry or TSA-Pre
  • $200 Hotel Credit
  • Gold member of Hilton and Marriott
  • Airport Lounge program
  • Free Shoprunner and Walmart+ membership
  • $300 Equinox Credit & $300 SoulCycle At-Home Bike Credit

Totally for an annual fee of $695. I am holding the Schwab version of the platinum card, which has an exclusive benefit: transfer points to the Schwab brokerage account at a ratio of 1 point=1.1 cent. So for me, I believe it is worthy to keep if I can have a good retention offer. Actually, I have used this way to generate a monthly income nicely: My Cash Flow from Credit Cards: How I earn $542 per month.

So I open the chat window on my online bank account, and just input”Cancel a card” to avoid more robot conversation:

The system will transfer your chat to a real agent who is in charge of the cancellation:

Then they will ask you the reason to cancel, you can express your major concern. For me, it is high annual fee:

Then ask for a retention offer directly, not to waste time:

If there is an offer on your account, the agent will tell you, which means, the offer is not 100% available. Luckily, there is one for me:

55,000 points are worth at least $605. Combined with all the benefits, I think I can keep it for 1 more year! If no offers is available, you must seriously think about if it is worthy to keep.

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