Before you cancel a credit card it’s always a good idea to call to see if there are any offers for keeping the card (known as a retention bonus), we’ve discussed this in some depth before here. Bonuses that are offered vary a lot from card to card and even card member to card member. In some cases credit card issuers are particularly eager to keep their retention rates high so they offer better than normal bonuses. This seems to be the case currently with a lot of readers reporting better than normal retention bonuses such as:
- American Express Platinum:
- Spend $3,000 in 3 months and get 30,000 points
- Spend $3,000 in 3 months and get 20,000 points
- 10,000 points with no spend requirement
- $50 statement credit with no spend requirement
- Â SPG:
- Spend $3,000 in 3 months and get 7,000 SPG points
- Spend $1,000 in 3 months and get 7,000 SPG points
- Spend $3,000 in 3 months and get a $75 statement credit
It seems that specifically asking for offers (e.g 30,000 points on the Platinum) is working for some people and when it’s not they are being offered more than they were previously. Obviously this is a huge YMMV and a lot of readers will call in and be offered nothing, that’s just the nature of the game unfortunately. Feel free to share your successes and failures in the comments below
