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Posted by on Oct 8, 2013 in Amex Gold Delta, Amex Platinum, Amex Premier Rewards Gold, Amex Starwood, Amex Starwood Business, Chase Ink Bold, Chase Southwest Premier, Citi AAdvantage, Citi AAdvantage Business, Credit Cards | 0 comments

Maximize Credit Card Retention Offers

In my guide to opening credit cards for rewards, I wrote that you should always cancel the credit card before the annual fee hits. I also said that I aim to cancel credit cards about 10 months after the date of approval. You may wonder why I don’t cancel credit cards a full 12 months after opening the card right before the annual fee hits. The answer is simple – credit card retention offers.   Credit Card Retention Offers When a customer calls in to cancel a credit card, banks will often offer credit card retention offers to persuade the customer to hold onto the card. These credit card retention offers come in the form of bonus airline miles, points, and/or cash in the form of statement credits. Sometimes the retention offer will be small, but sometimes it can be very generous. The reason credit card companies offer these bonuses is because it often costs them less to pay out a retention offer than to lose you as a...

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