Chase calling your retention bonus Bluff now.

[woodyman100]

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.

[Eagered2succeed]

Yea I saw that article too. I wouldn't play with chase at all lol. 

[longtimelurker]

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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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Well, the wisdom has always been that you have to prepared for cancellation trying this with any issuer, and there are lots of stories of cancellation when people didn't really want it.   But yes, what is new about Chase is that an option can appear during the "real" cancellation procedure.   So again, only do this if you don't mind cancelling the card but a good enough offer might change your mind.

[NRB525]

For Chase, it's an excellent way to reduce risk:  A closed card that was in the hands of a non-spender is that much less open credit risk.

If you aren't really ready to close the card, at any bank, don't go fishing on the retention.

[kdm31091]

I'm only surprised it took this long since people have been fishing for offers with no intention of cancelling for years. My guess is they want the "retention" offers to actually be that, and not just bonuses for people who had no intention of closing the card.

Just another avenue of "gaming" that is being shut down.

[CreditCuriosity]

Not really gaming IMO.. When my CSR AF comes up in next two months I will ask if they are going to offer me a 100 credit to bring it down to 450 vs. 550 or I will just ask for a PC to a NO AF CS and once traveling come back to normal whether a few months or sometime next year then I will change back to CSR and get the travel credit, etc and AF will hit a few months later.  No sense in paying AF's if you can't use them on on high AF cards..  IHG 49$ card and Marriott card  I believe 95$ I won't bother to call as the hotel easily makes up for the AF and certificates have been extended if not mistaken.  With that said people got to be smart and not threaten to cancel just downgrade to no AF cards so they can re-up after they can use benefits again.  Chase and other banks such as Amex and Citi are getting hit with alot of cancellations of high AF travel cards now, that is a fact.  Now if spend say 100-200k a year on CSR/Platinum/etc I would expect a retention offer, but if one only spends say 50k then just do the downgrade route until ready to pay AF again then re-up it..  Just my 2 cents..

[Anonymous]

In general sense I can understand them doing this, but during the current crises peoiple are likely not unig these high AF products enough to offset. So people may be interested in some type of retention etc. After all so many other places are allowing defered payments.

Chase though has always been a little more strict compared to others. Heck i've called in twice at Amex to close a couple cards and it never happened, recieved a retention on one last year and then this year I was talked into a downgrade. All for valid reason when expolained to me.

Which TBH I figured they wouldn't mind me closing one considering how many I have with them, and teh one not getting much use as the others.  feels like the total opposite of what Chase would do.

[sarge12]

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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.

[wasCB14]

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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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It's less about paying interest and more about high spend on a single AF card. Results are very YMMV. No HP, since you're not trying to open a new account or get new credit. The old classic example was someone spending mid-five figures on an Amex Platinum, much of it earning just 1x, and as a retention offer getting 10k or 20k extra points for a few thousand in spend. But with CSR's broad bonus categories and CFU giving 1.5x, Chase has rarely given offers.

No-AF cards can occasionally get offers, but they tend to be smaller ones like 0% for 6-12 months or an extra $25 in rewards. Past spend isn't necessarily required, but without significant spend such offers may dry up. Again, hugely YMMV. The lack of an AF means the customer has little short-term incentive to walk away.

[kdm31091]

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@CreditCuriosity wrote:

Not really gaming IMO.. When my CSR AF comes up in next two months I will ask if they are going to offer me a 100 credit to bring it down to 450 vs. 550 or I will just ask for a PC to a NO AF CS and once traveling come back to normal whether a few months or sometime next year then I will change back to CSR and get the travel credit, etc and AF will hit a few months later.  No sense in paying AF's if you can't use them on on high AF cards..  IHG 49$ card and Marriott card  I believe 95$ I won't bother to call as the hotel easily makes up for the AF and certificates have been extended if not mistaken.  With that said people got to be smart and not threaten to cancel just downgrade to no AF cards so they can re-up after they can use benefits again.  Chase and other banks such as Amex and Citi are getting hit with alot of cancellations of high AF travel cards now, that is a fact.  Now if spend say 100-200k a year on CSR/Platinum/etc I would expect a retention offer, but if one only spends say 50k then just do the downgrade route until ready to pay AF again then re-up it..  Just my 2 cents..

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If you're honestly calling with the intent to cancel due to the benefits being unused, I don't see an issue.  Obviously during COVID things are different.

I'm moreso referring to the people who call with absolutely no intention of cancelling the card and are just looking for free points, especially during pre-COVID times. My guess is that's who Chase is trying to shut out.