Good afternoon everyone. A few weeks ago, I wrote Reconsideration Strategy for Credit Card Annual Fees During Coronavirus Pandemic. In that post, I shared all of my credit cards with annual fees that were coming due soon and my plan for retention offers. While I struck out with American Express regarding my American Express Gold Card and American Express Hilton Aspire Credit Card, I did score a sweet retention offer on my Chase Marriott Bonvoy Premier Plus Business Credit Card.
I don’t believe this credit card is still available for new applications, but if you have another Chase Marriott business credit card, you should be able to product change to this card. According to the card benefits, there is really nothing very special about this credit card except for the fact that you get a free night certificate every year that is valid at Marriott properties that cost up to 35,000 Marriott Bonvoy points. If you spend $60,000 on this credit card, you will earn a second free night certificate. The credit card has a $99 annual fee. The annual fee just posted to my account, so I decided to call Chase to see what kind of retention offers were available.
A few weeks ago, Doctor of Credit wrote Chase Making It More Difficult To Receive Retention Offers? In that post, it said that Chase was making it harder to receive retention offers and only provided retention offers when cardmembers were going through the card closure process. I was prepared to close this credit card if Chase didn’t offer any type of retention offer. During the call, I told the rep that the $99 annual fee just posted to my account and that I wasn’t sure if I would keep this credit card because I wasn’t planning on traveling anytime soon. I asked the rep if he could waive the annual fee this year. He checked his system and said that he could offer me a $100 statement credit if I kept the credit card open. The $100 statement credit would post to my account in the next 1-2 billing cycles and that I should pay the $99 annual fee by the payment due date if the statement credit did not post before then. I gladly accepted the retention offer and thanked the rep for his help.
For my data point, I did not have to go through the card closure process, just asking if it was possible to waive the annual fee was all that was necessary. As you can tell by my last 3 transactions on this credit card, I never use this credit card. The last 3 transactions show that my last annual fee was billed in May 2019, I paid the annual fee in May 2019, and my new annual fee was billed in May 2020. I have had this credit card since April 2018 so I am not a long time cardholder either.
Here are 2 other recent data points for Chase. I called Chase regarding the $550 annual fee that posted in April on my Chase Sapphire Reserve Credit Card but I didn’t receive anything other than the automatic $100 statement credit that all CSR cardholders received. My wife also called about her Chase Southwest Airlines Priority Credit Card (her $149 annual fee is scheduled to post on June 1). The rep was only able to offer a 1.99% APR rate which my wife declined. I told her to call Chase next month after the annual fee posted to see if there are any better retention offers available. If you have any questions about Chase retention offers, please leave a comment below. Have a great day everyone!