No retention offer for Amex PRG

CreditJim · ‎09-19-2014

My Amex PRG is up for renewal in October, so I decided to call them and see if there were any incentives to keep the card. I've spent over $40k so far in the first year I've had it. A fairly unfriendly sounding rep answered in rententions, took a long while to look at my account, came back and told me what I already know, I can earn 3x on airfare etc etc. She incorrectly tried to scare me by saying I'd forfeit the 150k MR points I've earnt, before I pointed out that I also have a Business Plat and the MR accounts are combined. Then said basically there's no offers for me to keep the account open. I said I'd have to think then and she sounded delighted when she asked "so you won't be cancelling the account today?" I told her I wouldn't be today, but will cancel when the AF hits.

B335is · ‎09-19-2014

Incredible. Amex clearly has no issue alienating their members in good standing, not just with no retention offers, but the attitude and idle threats. I'm closing my PRG this November when AF hits.

CreditJim · ‎09-19-2014

I really like the card, but I have to say I haven't experienced the much lauded legendary customer service on the occasions I've called them. I haven't found as much use yet for the MR points as I thought I would, so sadly, as an economic decision, I don't think it makes sense to keep the card. They tried telling me it was better for SPG earning as I can transfer the MR points to SPG, but left out the horrible exchange rate.

jamesdwi · ‎09-19-2014

@CreditJim wrote:
My Amex PRG is up for renewal in October, so I decided to call them and see if there were any incentives to keep the card. I've spent over $40k so far in the first year I've had it. A fairly unfriendly sounding rep answered in rententions, took a long while to look at my account, came back and told me what I already know, I can earn 3x on airfare etc etc. She incorrectly tried to scare me by saying I'd forfeit the 150k MR points I've earnt, before I pointed out that I also have a Business Plat and the MR accounts are combined. Then said basically there's no offers for me to keep the account open. I said I'd have to think then and she sounded delighted when she asked "so you won't be cancelling the account today?" I told her I wouldn't be today, but will cancel when the AF hits.

is the PRG the next Unicorn? If they are going to kill it off they wouldn't want to extend its life. If not enough people keeping the card after the first year, they may kill it.

Cards: Chase Southwest 20k & CSR 17k & CSP 10k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
Landmarkcu Personal Loan 10k

SomeGuyOnTheWeb · ‎09-19-2014

Well, from a business stand point, I understand where they're coming from. The card is probably benefiting you much more than than AMEX is benefiting from you. As much as people like to think otherwise, you're not THAT important to any given CC company unless you're spending hundreds of thousands of dollars a year on your card. Besides, and not to sound like an ass, but I've worked in retentions before, and you learn that most CH's are simply bluffing (not all, but most), and you just kind of learn to roll your eyes at the "I'm going to cancel if you don't do X for me" type threats.

EQ - 727
TU - 752
EX - 774

CreditJim · ‎09-19-2014

I get that SomeGuy. A lot of people on here make hysterical threats to cancel too at the slightest problem. For me it's purely business, I'm not getting enough value from it to justify the fee. In fact I don't really see what about the product does justify the fee, compared to the competition. And I wasn't posting how much I've spent on it as a brag, merely a data point. The posts I researched on here before I called would seem to suggest that if you've even so much as bought a packet of gum on the card in the past year they'll offer you a good retention bonus, and in my experience, they won't.

I don't agree that I've benefited more from the card than they have though. They've had the swipe fees. I've yet to experience a tangible benefit. And in any case, they wouldn't be a very good business if they weren't making money from their products somehow!

youdontkillmoney · ‎09-19-2014

One time i called AMEX Platinum to cancel and they offered me a $100 credit to buy a "nice dinner" as the rep put it. I stayed.

bigblue7722 · ‎09-19-2014

I honestly think the PRG is the worst CC on the market thats not a FP or credit one. I have it just for the sign up bonus and the fact it was a 2 for 1 hp deal. I love the way the card looks and the idea of a charge card but i dont see how the AF is worth it. What does the card give you after the 1st year. You have to spend $30,000 to basiaclly make up for most of the AF with the 15k points. I know its a big spender card but even if you are theres got to be a lot better cards with less AF to spend you $30,000 on. I dont have to spend a penny on my marriott card pay a 85 AF and get a free room which can be worth up to around $300. Thats a much better deal if you ask me.

AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.

Fico2Go · ‎09-19-2014

I'm not going to defend AMEX but on this issue of their customer service I've had nothing but great experience with them.

Recently an auto payment failed to process on the due date. I called customer service and explained that as a result of the failed auto payment the current payment was 2 days late. I asked for removal on the late fee.

CSR looked over my account and came back with.

"I have some great news for you!"

I said, "Great news?"

CSR went on to explain that my late fee was waived and should be creditted in 24 hours.

CSR then went on the say that as an AMEX customer for 19 years IT'S THE "LEAST' THEY COULD DO FOR ME.

WOW!

I wonder how far they would have gone to satisfy?

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013

longtimelurker · ‎09-19-2014

@Fico2Go wrote:
I'm not going to defend AMEX but on this issue of their customer service I've had nothing but great experience with them.

Recently an auto payment failed to process on the due date. I called customer service and explained that as a result of the failed auto payment the current payment was 2 days late. I asked for removal on the late fee.

CSR looked over my account and came back with.

"I have some great news for you!"

I said, "Great news?"

CSR went on to explain that my late fee was waived and should be creditted in 24 hours.

CSR then went on the say that as an AMEX customer for 19 years IT'S THE "LEAST' THEY COULD DO FOR ME.

WOW!

I wonder how far they would have gone to satisfy?

While Amex can have great service, waiver of late fees is really nothing special!