Good morning everyone. Yesterday, I called Citi to ask about a recent credit card transaction. Toward the end of the call, the rep asked if I had any other questions and I said that I had just paid the annual fee on my Citi Prestige Credit Card, but that I was considering closing the credit card. I told her that I use my Citi Premier Credit Card more often than my Citi Prestige Credit Card and I don’t take advantage of the 3 free rounds of golf or 4th night free hotel benefit, so I don’t get much value out of paying the *huge* annual fee. She put me on hold for a minute and transferred me to the credit card retention team (actual department name may differ).
After talking to the rep for a few minutes, he offered me the following retention offers on my Citi Prestige Credit Card:
- Spend $4,000 in 3 consecutive months and get a $200 statement credit
- Spend $3,000 over the next 6 months and get 10,000 bonus Citi Thank You Points (TYPs)
The $200 statement credit sounded tempting, but spending $12,000 over the next 3 months seemed like overkill for a 1.67% bonus ($200 / $12,000 = 1.67%). I decided to take the second offer which only required me to spend $3,000 over the next 6 months, or about $500/month. Since I value Citi TYPs at 1.6 cents per point (CPP), I would be getting a $160 bonus after spending $3,000, which results in a 5.33% bonus ($160 / $3,000 = 5.33%).
Toward the end of that call, the rep asked if I had any other questions. Yes, I said, can you check for any retention offers on my Citi Premier Credit Card? Not a problem, he said, and a few minutes later, he offered me the following retention offers on my Citi Premier Credit Card:
- Spend $1,000 in 3 consecutive months and get a $95 statement credit + 1,000 bonus Citi TYPs
- Spend $1,000 over the next 3 months and get 5,000 bonus Citi TYPs
The $95 statement credit is nice since that would completely offset my $95 annual fee, but I had to check the math. $3,000 in spend would get me the $95 statement credit + $16 in Citi TYPs for a total value of $111. That would result in a 3.70% bonus ($111 / $3,000 = 3.70%). I decided to take the second offer which only required me to spend $1,000 over the next 3 months, or about $333/month. I would be getting a $80 bonus after spending $1,000, which comes to a 8.00% bonus ($80 / $1,000 = 8.00%).
Toward the end of that call, the rep asked if I had any other questions. Yes, I said, can you check for any retention offers on my Citi Forward Credit Card? I shared my frustration and disappointment that the 5x categories were changing to 2x starting on June 4, 2016 and he quickly offered me the following retention offers on my Citi Forward Credit Card:
- Spend $4,500 over the next 6 months and get 15,000 bonus Citi TYPs
- Spend $1,000 over the next 3 months and get 7,500 bonus Citi TYPs
- Earn an extra 2x Citi TYPs for all purchases over the next 6 months, up to 35,000 bonus Citi TYPs
Dang, this was a tough decision. Before I tell you which one I picked, let’s check the math. 15,000 Citi TYPs is worth $240, which results in a 5.33% bonus ($240 / $4,500 = 5.33%). 7,500 Citi TYPs is worth $120, which results in a 12.00% bonus ($120 / $1,000 = 12.00%). To earn 35,000 bonus Citi TYPs, I would need to spend $17,500 over the next 6 months, or about $2,900/month. 35,000 Citi TYPs is worth $560, which results in a 3.20% bonus ($560 / $17,500 = 3.20%). The second retention offer seemed the best on paper, but I ended up going with the first offer. Spending $4,500 over 6 months is about $750 per month, so that is easily doable and I like the bonus Citi TYPs.
Last but not least, the rep asked me if I had any other questions and I told him that my Citi American Airlines Platinum Credit Card had the $95 annual fee posting next month. I asked if he saw any retention offers for that credit card, but he said no. I plan to call back after the annual fee posts and hope I can get a retention offer. In the past, I have been given $95 statement credits to offset the $95 annual fee. The only reason I keep this credit card is for the 10% rebate on redeemed American Airlines miles, up to 10,000 American Airlines miles per year.
Remember, all retention offers are targeted to each individual card and you may receive better, worse, or no retention offers when you call. If you have any questions, please leave a comment below. Have a great day everyone!
I called to cancel my Amex Premiere Gold last night and was offered 7500 MR after 1k in spend or $100 in credit after $500 in spend. I took the 2nd one. Pay the $175 annual fee with the $100 credit and $100 GC Jan 1st I get a free $25. Sounds good to me.
Thanks for the data point, Mark, I would have chosen the same offer.
Called last week to simply inquire about offers on my AMEX PRG fee and was immediately given 25,000 MR’s. No additional spend at all.Yes, I was surprised.
Dang, you can’t beat that retention offer!
Are you a big spender on yours? I probably only spent 3k over the last year on mine.
I spend about $500-$700 per month on Citi Forward, probably around $100-$300 on Citi Premier and $0 on Citi Prestige.
I called Citi last week re: Prestige Card . I was offered the same $200 statement credit or up to 35,000 TY points via a 4 TY point bonus per dollar on travel spend overt the next 6 months. (3 points standard plus 4 points bonus) So I need to spend $8,750 over the next 6 months on travel to earn the 35,000 TY point. (no problem) 35,000 TY points at 1.33 cents =$465. (Sorry, I know they are worth more on AA but my sanity has value , too. I just can’t stand AA after what they’ve done to me lately with delays and cancellations)
Thanks for the data point. I’m glad you got some good retention offers on your Citi Prestige CC.
I just called for the Prestige and got the same two offers for statement credits but only 5000 TYPs for a $3000 spend over six months.
Bummer, which offer did you select?
I took the 5000 TYPs. I don’t think I can make the min spend for the credits. I like the card a lot even though I don’t use the golf or 4th night benefit either.
Cool, thanks for sharing. Enjoy your bonus Citi TYPs.
Thank you. Need to speak to Citi about these 3 cards I have. It’s going to a fun day.
Good luck Andy, let me know how it goes!
I just ended up canceling my Prestige card a few weeks back. I did however signup for the Premier card a couple weeks before calling to cancel. I explained the fee was too high and not being able to utilize all the benefits. They offered the $200 credit, no strings attached, yet I declined as I also have the Amex Plat with similar lounge benefits. I DID however ask to have my credit moved over to my new Premier card which they had no problem doing.
Thanks for sharing, Joel. Enjoy your new Citi Premier CC.
I also had to call on the Premier, and these were my offers:
$95 credit for $4,500 in 3 months + special 9.99% interest fee
convert to preferred plus $300 within 3 months and get 6,000 bonus points
convert to preferred plus $6,000 in 6 months and get 15,000 bonus points
I took the conversion to preferred plus $300 in spend for 6,000 points.
Good data points. I didn’t know Citi had product conversion bonuses. Thanks for sharing.
Called Citi right after reading this post. Received an offer on my Citi Premier card spend $200 in the next 2 months receive a $95 statement credit and for the next 16 months every month I spend $500 I will receive an additional 500 TY points each month!
Also, asked abut my Preferred card received and offer to spend 3K over the next 6 months and get 10K bonus TY points.
I accepted both offers. Thanks Grant!
Great work, not bad for a short call to Citi :)
Just called Citi, got 4 additional thank you points at drugstores and gas stations up to 50K additional points. You da man G.
Awesome, thanks for the datapoint. Which Citi CC was this offer on?
Sorry citi prestige. It was the very last offer given
Gotcha, thank you for clarifying. Usually the best offer is the last offer available.
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I called couple times last wk to ask for AA retention but failed. So I transformed the AA Plat to double cash.
I already have 2 Citi Double Cash CCs, but maybe the Citi AT&T CC is available for a product change/conversion.
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I called Citi for retention in my AA Plat and also got zero offers. Seems like a trend line.
Hmm I plan on calling back as soon as my annual fee posts in a few weeks.
This was the second year in a row I got a $95 statement credit for $95 in spend…
The $95 statement credit is usually a sure thing for the Citi AA Plat CC, so I will try back soon.
Mine did post already near start of May, so I’m not sure what you’ll find.
Thanks, Grant! Was able to get a retention offer on my dormant Forward card: 15,000 TYP after spending $4,500 in 6 months! (Some MS about to happen lol)
Dormant Citi Forward? My card gets a lot of use. Get that MS done and enjoy the bonus Citi TYPs :)
I got the card in 2014, after they changed the reward structure, so no 5% categories or anything like like.
Oh bummer, you must have gotten the card right after they changed the earning structure and right before the discontinued offering that card.
Citi didn’t offer me any retention offers for my American Airlines AAdvantage card either. I called before and after my annual fee posted. I hope you have better luck.
Thanks Dan, I’m not sure what is going on with Citi or AA, why are they being so stingy right now? Maybe they have too many cardholders and not making enough money, so no more annual fee waivers and statement credits these days…
I called Citi a few weeks ago knowing my annual fee was about due on my Prestige. I love the card and have already saved over $1400 on the 4th night credits (although my last $506.90 credit still hasn’t posted…), and $500 on flights, so there was no way I was actually going to cancel it. I was offered:
1) Spend $3,000 per month for the next 3 months and receive a $200 statement credit.
2) 4 additional TY points per dollar spent at gas stations and grocery stores for the next 6 months, up to 50,000 TY points
3) 4 additional TY points per dollar spent at gas stations and drug stores for the next 6 months, up to 50,000 TY points
I chose the grocery store & gas station option. Even if I don’t MS, we still spend ~$800 month on groceries, so it works for me.
Thank you for sharing your data points. I’m glad you got a good retention offer on your Citi Prestige.
Like most other commenter, Citi wouldn’t give me any retention offer for the AA Plat, either before or after the fee posted. I was surprised as I put some decent spend on it since I got a couple targeted offers for 3x points at restaurants. Ended up converting to a Dividend. I’m also striking out with Barclays for any kind of offer on the Aviator Silver. Thinking I should’ve just stayed with the Red since offers seem to be plentiful on that card. Not sure what I should do if they won’t budge before I can no longer get the fee back in a couple weeks – I’d downgrade to the no fee Aviator to keep the credit history and possibility of later product changes, but I do like the free bags with the Red and Silver cards. Also have yet to receive the companion pass for the Silver even though they said I’d have it a month ago. Do you have any Aviators and if so, any better luck on yours?
Sorry Hunter, I don’t have any Barclays credit cards (they have never approved me for any cards). Try calling back once a week and seeing if you get any retention offers. Keep me posted.
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In case anyone is wondering I called Citi today to see about any retention offers on the Premier as I am coming up on my February anniversary and I already have the Prestige card. I was told that there are no retention offers currently available on Premier. I am not sure if that is because I put no spend on the card or if that coincides with the drop in the sign up bonus a few months back. Seems pretty shortsighted of Chase to be devaluing their Chase Sapphire Preferred competitor while Chase is working so hard to boost their business!
Thank you for your retention offer data points. I called a few weeks ago and didn’t get any retention / spending offers on any of my Citi cards and I use them all pretty frequently.