I have two AMEX business cards for which the annual fee was just billed – the Business Gold Rewards card and the SPG card. I signed up for the Business Gold Rewards card during a 75K promotion last year. At the same time, I snapped up a new SPG card which was still churnable at the time (the business edition still is). I had an SPG Business card at the time, but why not sign up? This was during one of the increased sign-up offers, I had not had a personal edition in the prior 12 months, I was eligible for the annual fee waiver, credits towards elite status, and of course the SPG sign-up points.
Anyway, once I hit the spend on each card, I moved most of my spend (which tends to focus on food and travel) back to my Chase Sapphire Preferred card. I also had two Citi Executive AAdvantage cards for which I had to hit minimum spend on. In the end, while I did place my SPG spend on my SPG card, there wasn’t much else on there. As such, I wasn’t surprised that when I called to cancel last week, I was offered no retention offers on either card. Here are my experiences for each, again the responses aren’t shocking as I had little spend on both cards and therefore was not a valued cardmember worth “saving” for these specific products..though it does highlight a change in AMEX retention offers:
- I consulted this flyteralk thread which lists recent offered retention bonuses for AMEX cards (click the link within to the separate SPG thread).
- Some of the more recent Business Gold offers – 10K Membership Rewards, $225 or 12.5K Membership Rewards, 10K Membership Rewards or $75, 10K Membership Rewards or $100
- Some of the more recent SPG offers – 7K SPG points (seems to be most common)1K points and 500 points after spending $1,000 in 60 days, $50 loyalty credit, 7K SPG points (seems to be most common), 3K SPG points
- For the Business Gold card, total spend outside of the required spend was only $7,200. On my first call I wasn’t even transferred to the retention department. I was thanked for my business and told that they were happy that I would still have several other AMEX cards. The representative was ready to cancel the card until I cut him off and said I would call back. I did call back and was able to get a different representative to transfer me to the retention department. Besides highlighting the current benefits, no offer could be made – points or loyalty credit. One more shot…for the blog. Same exact response, the “system was not allowing them to offer anything”.
- SPG card – same situation, total spend of only $3800 post required minimum spend. The initial customer service representatives wanted to cancel the card on the spot as per my request. No retention department connection until I specifically requested it. Three calls, no offers during any of them. They were happy that I still had an SPG Business card though and would continue earning valuable SPG points 😉
Wow, what a difference from years past when I was offered fee waivers or at least 5K-7K SPG points on cards where I spent 1K or less in the year. I guess they are actually properly valuing those retention offers now…
What has been your experience?
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