Always Call When Your Annual Fee Hits

About a year ago, I applied for the Citi AA Platinum Select credit card. It gave me 50000 American miles. I’ve enjoyed the benefits of the card such as 10% of your points back on award redemptions (up to 10000 a year) and access to Reduced Mileage Awards. Since I met the minimum spend requirement and received my bonus, this card has sat in a drawer for about 9 months.

The $95 annual fee recently hit my account. I now have a Barclays Advantage Aviator red card that offers me the same benefits as this card, so I had no desire to keep the card. I called the number on the back of the card and asked the representative if there’s any way the annual fee could be waved or if there were any retention offers available. She transferred me to a retention specialist.

Once I was connected to the retention specialist, I did not need to explain anything. I assume the woman I spoke to originally must have told him everything I said. He told me that he could not simply waive the fee, but could give me a credit of $95 (to offset the fee) if I spent at least $95 on the card in the next 2 billing cycles. He said in addition to this, they could give me a bonus 1000 American miles every month I spend at least $1000 for the next 16 billing cycles. I told him I would love to keep the card open! He then repeated the terms of both promotions and asked if I agreed. I did, thanked him and hung up the phone.

The “average age of accounts” part of my credit score is currently my weakest portion. Keeping this card open will help with my average age of accounts and offers me essentially 2x American miles on all purchases if I spend exactly $1000 every month. I plan on taking advantage of this, since I think American miles are some of the most valuable out there!

Have you ever been offered a great credit card retention offer? If so, what was it!

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