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How to Get a Credit Card Retention Offer!

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Let’s talk about Credit Card Retention Offers! A lot of people have asked me what do after the first year of opening a Credit Card and the welcome bonus has been met. Is it worth it to keep the card after the first year?

For me, I evaluate if I am still getting benefits from that card and usually the answer is yes but I still call and ask for a retention offer. A lot of times banks will offer you more points, statement credits or a discount on the annual fee.

When to ask:

The best time to ask is once the annual fee has hit your card. This has proven to be the best time over the past few years.

What to do/say:

  1. Call the card issuer.
  2. Explain that you’re considering closing the card.
  3. Wait for their response.
  4. Accept or decline the retention offer(s).

It is best not say “I am closing the card.” instead say “I am considering closing the card.”

There are No Guarantees:

While it is ALWAYS worth asking there are no guarantees that the credit card companies will agree to an offer. I have had offers and I have had hard no’s! I usually leave the card open because it can hurt my credit to close accounts since credit companies appreciate long history and usually I am maximizing all the benefits the card has to offer! I will close a card if I am eligible for the bonus again but more on that later!!

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Aubree Berry

Hi! I'm Aubree

I transformed my life by intentionally find ways to travel the world for less. Over the years, I have been able to take many trips to places like Hawaii, Disney, and the mountains, all without killing my bank account. Now, I get to teach others, like you, do the same!

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