You Could Be Missing Out on Easy Points If You’re Not Using This Tip!

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You Could Be Missing Out on Easy Points If You’re Not Using This Tip!

Million Mile SecretsYou Could Be Missing Out on Easy Points If You’re Not Using This Tip!Million Mile Secrets Team

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Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.

Simply making a quick phone call to the bank that issues your credit card could get you some free easy points.  Team member Keith had recent success doing this, so I’ll let him tell you the story!

Keith:   Thanks, Daraius!

When you call a bank to cancel a credit card, they’ll sometimes offer bonus points or a statement credit as an incentive to keep the card open another year.

I recently earned an easy 7,500 AMEX Membership Rewards points as an incentive to keep The Business Platinum® Card from American Express active for another year.

Credit Card Retention Offers
Every Point Counts When You’re Saving for Redemptions Like Singapore Airlines First Class Suites! That’s Why It’s Worth It to Call for Retention Offers!

Retention bonuses are never a guarantee.  But you have nothing to lose by calling to ask for one, especially if you’re planning to cancel the card anyway.

I’ll share more about the retention offer experience.  And explain why 7,500 bonus AMEX Membership Rewards points was enough for me to keep the card open for another year.

My 1 Year Anniversary With the AMEX Business Platinum Card

Link:   The Business Platinum® Card from American Express OPEN

Link:   Review of the AMEX Business Platinum Card

I applied for the AMEX Business Platinum card toward the end of 2016 when there was a limited time offer to earn 100,000 AMEX Membership Rewards points.  This deal is no longer available, but the current offer is still valuable.  Right now, you can earn 75,000 AMEX Membership Rewards points after meeting tiered minimum spending requirements.

Admittedly, I didn’t make many purchases with the card after earning the sign-up bonus.  Because the bonus spending categories aren’t great for my business.

I sell merchandise on eBay for a profit, which is how I qualify for business credit cards.  And I typically use the Ink Business Cash Credit Card or Ink Business Preferred℠ Credit Card for business spending to earn Chase Ultimate Rewards points, which my wife and I redeem frequently to save money on travel.

Credit Card Retention Offers
I Prefer to Use the Chase Ink Cash Card for Business Spending Because I Earn Bonus Points at Staples and With Other Purchases!

But the AMEX Business Platinum card has some great ongoing perks that I take advantage of like:

Plus, AMEX recently announced a new partnership with SoulCycle.  And AMEX Platinum cardholders can purchase special discounted packages, which is great because my wife attends classes frequently.

Credit Card Retention Offers
AMEX Platinum Cardholders Can Now Save Money on Certain SoulCycle Packages!

Despite all of the perks, the card does have a $450 annual fee, which is not waived the first year.  I don’t mind paying annual fees.  But each year I evaluate whether the card benefits justify the expense.

And I was unsure if paying $450 to keep the card open another year made sense for my personal situation.  That’s what led me to call AMEX to ask for a retention offer.

~2 Minute Retention Offer Phone Call = 7,500 Points!

I called the phone number on the back of my AMEX Business Platinum card.

After navigating the automated AMEX telephone prompts, I was transferred to a live customer service representative.  I said something like “Hello!  I’m considering cancelling by AMEX Business Platinum card and wanted to see if you were offering any incentives to keep the card open.”

The representative said she would check my account.  She said they could offer 7,500 AMEX Membership Rewards points or a $75 statement credit.  I figured I could get more than $75 worth of value with the points, so I opted to take the points.

The representative read a disclosure and said I would see the points in my account within a few days.

Credit Card Retention Offers
The Points From the Retention Offer Posted to My Account ~3 Days After My Call

I can easily justify paying the $450 annual fee with the 7,500 bonus points, $200 annual statement credit for airline incidentals, savings with AMEX Offers, and SoulCycle, and access to Centurion Lounges.

Keep in mind, retention offers can vary, including no bonuses at all.  You can check this FlyerTalk thread to see what other folks have been receiving recently.  In my experience, you’re more likely to get a retention offer if it’s a card you’ve used frequently.

Bottom Line

Team member Keith recently called AMEX to ask for a retention offer before cancelling his Business Platinum card.  His ~2 minute phone call paid off because he received 7,500 bonus AMEX Membership Rewards points just for keeping the card open.

This is a great reminder that it’s worth it to call card issuers before cancelling to see if there are any incentives available on your account.  Earning easy bonus points or statement credits can be an extra reason to keep the card open and pay the annual fee for another year.

If you have any experience earning a retention bonus, sound off in the comments below!

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Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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My husband and I both have United cards and just go the annual fee put on them. If we both just received our lounge passes, will two of them be void if we cancel one of these cards? Do they usually offer a retention bonus? Just trying to figure out if we should cancel or keep these.

Your lounge passes will still be valid if you cancel the card. I’d recommend checking out the below FlyerTalk thread to read about recent retention offers on the card. Also, keep in mind Chase United cardholders get access to more award seats, which is a nice benefit if you redeem miles for award flights.

https://www.flyertalk.com/forum/chase-ultimate-rewards/1710270-chase-retention-bonus-offers-june-2015-present-except-sapphire-reserve-58.html