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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!
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.
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
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.
But the AMEX Business Platinum card has some great ongoing perks that I take advantage of like:
- 5X AMEX Membership Rewards points when you book airfare and hotels through the AMEX travel portal
- 35% of your points back for ALL First Class or Business Class flights booked through the AMEX travel portal using Pay With Points
- 35% of your points back for all flights, including coach tickets, booked with your selected airline through the AMEX travel portal using Pay With Points
- Up to $200 in statement credits per calendar year for airline incidentals with your selected airline (luggage fees, in-flight food & drink, etc.)
- Ability to book hotel stays through AMEX Fine Hotels & Resorts
- Access to airport lounges (Delta, Priority Pass, Airspace, and American Express Centurion Lounges)
- Bonus points or statement credits when taking advantage of an AMEX Offer
- 10 free Gogo in-flight Wi-Fi passes each calendar year
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.
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.
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.
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!