Chase calling your retention bonus Bluff now.

[kdm31091]

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@sarge12 wrote:

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@woodyman100 wrote:

Just read a story about Chase calling your bluff when fishing for retention bonuses.

Basically you can no longer hint at a retention offer.

If you say you might want to cancel then the CSR initiates the action. 
If during that process a retention offer pops up then you have the option to accept and keep the card. 
Otherwise you are now minus a card.

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Wait...what? You mean to tell me people have been calling the CSR threatening to close a card, and getting added bonuses similar to a SUB??? How have I not been aware of this? Would a card issuer possibly bribe me in spite of the fact I have never ever paid them 1 cent in interest, or would that be unlikely? Do thay do a hard pull to determine if you are creditworthy enough to wish to retain you? As long as I have been on these boards how in the heck have I been ignorant of another method of getting more cash from the issuers? I thought I was extracting every possible penny. Would the perhaps do that on my 1% cash back cards that have not had any activity in a year? Is it even a little possible to extract 100 bucks from the TD bank card that I have been expecting AA for non-use? As a strict transactor who always pays every card in full, would it be too risky to rock the boat? Need more info, because I have several cards in the proverbial sock drawer that I have been expecting closure of. This thread has definitely gotten my attention.

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Some banks are much more likely to give retention offers than others. Generally speaking Citi and Amex are historically the more generous. Chase less so. Many banks rarely if ever offer retention, like BoA. Not to say it never happens but it's not common.

On no annual fee cards your chances are much lower, though not totally unheard of, but as mentioned the bonus tends to be far smaller.

[Anonymous]

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@sarge12 wrote:

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@woodyman100 wrote:

Just read a story about Chase calling your bluff when fishing for retention bonuses.

Basically you can no longer hint at a retention offer.

If you say you might want to cancel then the CSR initiates the action. 
If during that process a retention offer pops up then you have the option to accept and keep the card. 
Otherwise you are now minus a card.

---

Wait...what? You mean to tell me people have been calling the CSR threatening to close a card, and getting added bonuses similar to a SUB??? How have I not been aware of this? Would a card issuer possibly bribe me in spite of the fact I have never ever paid them 1 cent in interest, or would that be unlikely? Do thay do a hard pull to determine if you are creditworthy enough to wish to retain you? As long as I have been on these boards how in the heck have I been ignorant of another method of getting more cash from the issuers? I thought I was extracting every possible penny. Would the perhaps do that on my 1% cash back cards that have not had any activity in a year? Is it even a little possible to extract 100 bucks from the TD bank card that I have been expecting AA for non-use? As a strict transactor who always pays every card in full, would it be too risky to rock the boat? Need more info, because I have several cards in the proverbial sock drawer that I have been expecting closure of. This thread has definitely gotten my attention.

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To answer one of your questions: I don't know how you are not aware of it!   (As a side note, anyone who thinks they know all the tricks is probably wrong.  Except for me)  Flyertalk has subforums dedicated to data points on recent retention offers per card for example.

In general, high spend is the key.   But a common example used to be Citi's AA cards, they would nearly always give offers to offset the AF, usually with some spend requirement, spend $100 a month for 6 months and we will give you a bonus 9500 miles or whatever, even on accounts with no spend in the previous year.    These things are constantly changing (hence the FT forums!) and what worked for one person might not work for someone with an apparently similar profile.

[wasCB14]

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@kdm31091 wrote:

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Some banks are much more likely to give retention offers than others. Generally speaking Citi and Amex are historically the more generous. Chase less so. Many banks rarely if ever offer retention, like BoA. Not to say it never happens but it's not common.

On no annual fee cards your chances are much lower, though not totally unheard of, but as mentioned the bonus tends to be far smaller.

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Maybe BofA sees it as:

Platinum Honors customers don't need retention on core cards, due to the excellent rewards they already get.

Airline loyalists don't need retention, due to perks they already get.

Other customers either aren't very profitable...or are profitable and don't have a ton of alternatives.

I got at least 3 retention offers on Prestige between 2016 and 2018. I never called without being genuinely willing to close the card, though.

[jdbkiang]

The problem is, with Chase, you can reopen cards after 30 days. So unless that rule was also changed, this honestly doesn't do much...

[CreditCuriosity]

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@jdbkiang wrote:

The problem is, with Chase, you can reopen cards after 30 days. So unless that rule was also changed, this honestly doesn't do much...

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huge impact dues to ppl over 5/24 and believe unless recently changed if not eligable for bonus they auto decline a card as well so a double whammy

[jdbkiang]

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@CreditCuriosity wrote:

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@jdbkiang wrote:

The problem is, with Chase, you can reopen cards after 30 days. So unless that rule was also changed, this honestly doesn't do much...

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huge impact dues to ppl over 5/24 and believe unless recently changed if not eligable for bonus they auto decline a card as well so a double whammy

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Sorry, confused. What do you mean?

[TSlop]

I did this last year, but mine was more of a partial bluff; I had fully intended to downgrade my CSP if they didn't offer a retention. I simply asked for a retention offer after my first AF hit, and when they said there is currently not one available, I played "dumb" and said I either want to close it, or downgrade it and get a refund if that was a possibility. They of course immediately gave me the options of the CS and CFU (I had a CF). While this route didn't get me through the cancelling process to see if something would actually pop up, I knew they could, and probably would, call my bluff. I was not willing to let it cancel.

On a side note, I also upgraded back to the CSP on 1/26 and I still haven't been charged the AF....

[wasCB14]

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@jdbkiang wrote:

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@CreditCuriosity wrote:

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@jdbkiang wrote:

The problem is, with Chase, you can reopen cards after 30 days. So unless that rule was also changed, this honestly doesn't do much...

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huge impact dues to ppl over 5/24 and believe unless recently changed if not eligable for bonus they auto decline a card as well so a double whammy

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Sorry, confused. What do you mean?

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Chase has a 48-month rule with some cards.

"The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months."

That plus 5/24 means that it's not easy for many people on MF to get a new account after closing...especially if, as CC says, Chase declines applications from people who are ineligible for the SUB.

[CreditCuriosity]

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@wasCB14 wrote:

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@jdbkiang wrote:

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@CreditCuriosity wrote:

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@jdbkiang wrote:

The problem is, with Chase, you can reopen cards after 30 days. So unless that rule was also changed, this honestly doesn't do much...

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huge impact dues to ppl over 5/24 and believe unless recently changed if not eligable for bonus they auto decline a card as well so a double whammy

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Sorry, confused. What do you mean?

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Chase has a 48-month rule with some cards.

"The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months."

That plus 5/24 means that it's not easy for many people on MF to get a new account after closing...especially if, as CC says, Chase declines applications from people who are ineligible for the SUB.

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What @wasCB14 said.. was on a work meeting call while typing so not very clear.  5/24 will eliminate alot of people as mentioned and at least a year or two ago unless it has changed if you aren't eligible for the sub Chase will decline you for that reason as well.. So say you are under 5/24 and had the CSP and got the sub and 1.5 years later closed it, you can't re-open until sub is/was available again.  This is last I heard how they did business, unless that has changed which it could of.  So two reasons not to shut a card then re-apply if they "call you out"

[sarge12]

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@Anonymous wrote:

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@sarge12 wrote:

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@woodyman100 wrote:

Just read a story about Chase calling your bluff when fishing for retention bonuses.

Basically you can no longer hint at a retention offer.

If you say you might want to cancel then the CSR initiates the action. 
If during that process a retention offer pops up then you have the option to accept and keep the card. 
Otherwise you are now minus a card.

---

Wait...what? You mean to tell me people have been calling the CSR threatening to close a card, and getting added bonuses similar to a SUB??? How have I not been aware of this? Would a card issuer possibly bribe me in spite of the fact I have never ever paid them 1 cent in interest, or would that be unlikely? Do thay do a hard pull to determine if you are creditworthy enough to wish to retain you? As long as I have been on these boards how in the heck have I been ignorant of another method of getting more cash from the issuers? I thought I was extracting every possible penny. Would the perhaps do that on my 1% cash back cards that have not had any activity in a year? Is it even a little possible to extract 100 bucks from the TD bank card that I have been expecting AA for non-use? As a strict transactor who always pays every card in full, would it be too risky to rock the boat? Need more info, because I have several cards in the proverbial sock drawer that I have been expecting closure of. This thread has definitely gotten my attention.

---

To answer one of your questions: I don't know how you are not aware of it!   (As a side note, anyone who thinks they know all the tricks is probably wrong.  Except for me)  Flyertalk has subforums dedicated to data points on recent retention offers per card for example.

In general, high spend is the key.   But a common example used to be Citi's AA cards, they would nearly always give offers to offset the AF, usually with some spend requirement, spend $100 a month for 6 months and we will give you a bonus 9500 miles or whatever, even on accounts with no spend in the previous year.    These things are constantly changing (hence the FT forums!) and what worked for one person might not work for someone with an apparently similar profile.

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Perhaps I had heard it before but knew my profile would not qualify. I don't have but 1 card with an AF, the blue cash preferred that AMEX bribed me to upgrade to from blue cash everyday. The bribe was 300 dollars and it increased the grocery rewards to 6%. I think with helping my Sister on some groceries, it is probably getting me more than the 89$ AF in savings from the extra 3%. That would require 3000 dollars a year in groceries to get 180 dollars rewards, because the everyday would get me 90 dollars. It is not a huge difference either way, but the 300 bribe made it a no-brainer. It appears that I would never get a retention bonus, and once trying brought to their attention the fact I have never payed them a penny in interest it might have the opposit effect. In any case with all the SUBS, rewards, and even that 300 buck PC bonus, I am making out like a bandit so perhaps I should fly under the radar. I keep expecting them to tire of paying me so much to use their money interest free anyway. For some time I have gotten at least 3% on everything, 5% on amazon, and 6% on groceries. The HSBC had 12 months at 3% and State Farm has 3% on insurance. Chase Amazon prime and the AMEX blue cash preferred completes that. In 6 months I may take another 3% offer. If I was not disabled and never travel, I would have long ago gotten one of these premium travel cards like the CSR. Now if I could just talk my mortgage holder into taking credit cards I would be set, because that is practically the only thing I don't put on a card. Due to this virus, even my tax office is waiving the convenience fees to pay the property taxes on vehicles.