Good afternoon everyone. Part of my credit card strategy is to call and ask for a retention offers every time a credit card annual fee posts to my account. I am not successful 100% of the time, but I always find it worthwhile when I receive a retention offer for $50, $100, $150 or even $695 with a single call. Today’s post is a friendly reminder to call and ask for retention offers. The worse thing that can happen is that the rep screams at you relentlessly says they have no offers available. You can then decide to keep the card open, downgrade to a no annual fee credit card, or cancel the card. Here are my 2 recent examples.
The $450 annual fee posted to Laura’s JPMorgan Chase Ritz Carlton Credit Card on January 1. She called the customer service number on the back of the card and received a $150 statement credit to keep her credit card open. The $150 statement credit posted at the end of January and then she paid off the remaining credit card balance. $150 for a 5-7 minute phone call is a great hourly rate :)
