Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Links in this post may provide us with a commission.
Another Amazing ThankYou Preferred Retention Bonus
Back in January I shared the incredibly exciting retention offer my wife received when calling in on her Citi ThankYou Preferred card. After letting Citi know that she was thinking about cancelling this no annual fee card, they generously offered to give her an extra 2 points per dollar on all spend for the next six months with no cap.
That happened on January 28, which meant that the offer expired on July 28. Thankfully I had planned ahead with hopes of getting the offer again. A few months ago when one of her Citi Executive AAdvantage cards came up for annual renewal, she requested that it be converted to a ThankYou Preferred. My assertion was that it might be possible to receive a similar offer from Citi.
Citi ThankYou Preferred Retention Offer
Earlier today my wife
decided (was urged by me) to call up Citi, because neither of us likes to have stagnant cards lying around. After verifying her account, she was eventually connected to a “specialist” who could better assist her. It actually didn’t take long once connected for the specialist to offer her something to keep the card.
Unfortunately the offer wasn’t very good. The first offer was for 15,000 bonus points after spending $4,500 within the next 6 months. That does amount to 4.33X on that small amount of spend, but we spend a lot of money. So my wife pressed the agent. It took a little arm twisting, but he did eventually come out with a second offer.
The 2nd Offer
I was almost shocked to overhear this conversation, because the 2nd offer was exactly what I had planned for. Yes, he offered her an extra 2 points per dollar on all spend for 6 months with no cap. The specialist almost seemed to think this was worse than the previous offer and made sure my wife understood she could only have one or the other.
Of course this 3X everywhere (and 4X on dining and entertainment) is the same exact offer she received on her other card in January. With the exception of 3 days, by the time this offer runs dry, she will have had 12 straight months of 3X everywhere from Citi. ThankYou, no thank you Citi!
At this point I think it is important to re-emphasize how important a strategy is. While I cannot control whether Citi gives a specific offer on a card, I can make sure we have the right products in order to maximize the chance of an offer. I theorized Citi wouldn’t give her another offer on the existing ThankYou Preferred card, so I wanted to make sure she had another product in place.
While I don’t know if Citi would have given her another offer on her original card, it has a lower limit, so I am happy with the way things worked out. This is proof though that a little planning can go a very very long way when it comes to this stuff.
As banks seem to be tightening their approval processes for credit cards, it becomes more important to look at every opportunity. For us, earning 3X ThankYou points on all spend is incredibly valuable, especially since those points can eventually be redeemed for up to 1.6 cents each for airfare on American or transferred to travel partners. (Because we have the premium cards too.) Even at $.01 each for cash, we are doing pretty well!
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.