If you’ve got a Citi Platinum Select / AAdvantage World MasterCard or American Express card and it’s been a year since you got the card, you should make a very profitable call to Citi.
Now, this is definitely one of those cases where your miles will vary, but I’ve had several positive experiences myself as well as having good feedback from readers.
As most of you know, I usually cancel a credit card after I have it for a year to avoid paying the annual fee. I only keep credit cards for one of three reasons:
- The card is actually worth the annual fee. This year I’ve paid for the annual fee on the Ink Bold card (because of 5x per point at office supply stores) and US Airways MasterCard (due to the 10,000 bonus for keeping the card and the 5,000 discount on award flights).
- The credit card company offers me something to keep the card. In the case of the Ink Bold card above, I was offered 5,000 Ultimate Rewards point to keep the card. I kept a Chase Southwest business card because they offered me 5,000 Southwest points.
I guess the moral of the story is that you should always call the credit card company and see if they’ll offer you anything to keep the card account open.
It’s been a year since my wife and I were able to each get the Citi Visa and Citi American Express cards. (You can no longer get both cards on the same day.) Since it’s been a year, that means it’s also time to cancel the credit card. However, we’ve kept our cards because Citi has given us an incentive to keep the cards.
Our Citi Retention Bonus Offers
- My Citi American Airlines Aadvantage Visa = $95 statement credit (the annual fee is $85, so I get $10 for keeping the card open) & 500 bonus miles every month that you spend $500 or more. This is for up to 16 months. That means you actually get 2 miles per dollar when you spend $500 per month.
- My American Airlines Aadvantage American Express = $95 statement credit (the annual fee is $85, so I get $10 for keeping the card open) & 750 bonus miles every month that you spend $750 or more. This is for up to 12 months. That means you actually get 2 miles per dollar when you spend $750 per month.
- My wife’s Citi American Airlines Aadvantage Visa = $95 statement credit (the annual fee is $85, so I get $10 for keeping the card open) & 1000 bonus miles every month that you spend $1000 or more. This is for up to 16 months. That means you actually get 2 miles per dollar when you spend $1000 per month.
The annual fee hasn’t posted for my wife’s American Express card so we’ve yet to call to see what they’ll offer.
The best part of all is that I actually wanted to keep one of these accounts open because I think the 10% annual rebate (up to 10,000 miles) is actually worthy paying $95. This is especially true with free checked bags on American.
Also, this makes buying Vanilla Reload cards really valuable. If I were to buy $2,500 worth of cards each month across the three cards above, I’d get 4,750 American Airlines miles for $19.75 in fees. That’s hard to beat.
I’ve you’ve got a card in your wallet that you’ve had for more than a year, it only takes a moment to call and say that you don’t want to pay the annual fee and you’d like to see if there is anything they can offer you to keep the card account active. Worst case scenario is they’ll say no. However, with a Citi American Airlines card, there is a good chance they’ll offer you a nice bonus to keep the account open.
Application Link: Citi Platinum Select / AAdvantage World MasterCard
Have you been offered a retention bonus with Citi or another account? What was the offer?