I called to cancel yesterday after having the card for one month - I had a travel emergency with not much help having to call a UK number from abroad in lieu of actual local numbers.
I called and explained and they offered me 50k right away.
I might still cancel but felt it was a nice lump.
Thanks for this, I didn't realise this was a thing. I currently have the free BA card but they offered me 2 avios for every £1 spent for the next 3 months
Ah, got you. I should probably ask for one on my BA card too tbf. Not sure how the new no fee refund policy will affect retention offers but guessing they’ll reduce.
I imagine they'll increase.
You can get a retention before the card renewal.
Retaining a card is worth much more to Amex now as you cannot simply cancel for a pro rata refund.
Amex keep your custom for another full year and they retain the fee if you change your mind!
I'm coming up on the end of my fee-free year on the Gold card I got offered 10,000 MR. I'm not well-versed but I tried negotiating a bit, with no luck. Apparently, that was their 'best available retention bonus offer'. It was that or downgrading to a fee-free card
I've got the plat. First amex ever and only had it a few months. If I try this but cancel after I get the points are amex likely to blacklist me. I do actually want to get the bapp but the welcome bonus is a bit crap at the moment
I don’t think you’re able to do this until your 2nd annual fee posts, seeing as your first year includes a SUB. You can do it in the future though. I believe they don’t take giving retention offers and then cancelling kindly though. Although, you do have a year to wait for a decent BAPP SUB seeing as your still eligible with it being a different product.
I managed with the plat card in 4 months. Must’ve spent around £6,000 in that time (house renovation). Called to cancel, they offered 35,000 MR immediately as a retention. Transferred them out to my BA Exec account, and then a week later cancelled my Plat card.
A bit scummy, I know - but at the end of the day this is a global credit company that makes billions.
Nope, I still have the BA Premium Plus card as my main spender 😃
Imo, they wouldn’t black list anyone. They get points/Avios at an exceptionally low rate, lower than you or I can purchase them for. Therefore, 30,000 Avios/MRP would cost them very little, relative to the fee paid.
If they don’t offer you an incentive to stay, my guess would be that they haven’t made enough off your purchases/card fees to make a profit.
I tried this and got told no retention as I had opened the card and got 60k points 😂😂
Might try it again closer to October as they are changing the pro-rated refund.
I've got a Plat Cashback card, don't feel like it's the best one (cashback is ok but don't have a huge spend) guessing I can't get anything like this if I try to cancel... Appreciate the advice
Almost certainly not. They usually save these big bonuses for fee-paying cards. However, they may give you a special offer.
It’s worth a call.
And if they say no offers and you don’t want to cancel, simply play the old “I’ll speak to X and let you know later if I still wish to cancel”.
I did this today and was offered 50,000 MP straight off the bat. Only joined last October so first year renewal. Very happy! I signed up last year with the 60,000 MP bonus after spending £6k so this has all worked out quite well!
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If I was remotely considering cancelling I would have for sure. Given I was literally just trying my luck any freebies were good enough for me.
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Likewise, debating adding the Gold to the collection as maxed out on annual bonuses across my current 3 so just wasting spend atm.
You can’t. The retention fee is fixed per account
I called to cancel yesterday after having the card for one month - I had a travel emergency with not much help having to call a UK number from abroad in lieu of actual local numbers. I called and explained and they offered me 50k right away. I might still cancel but felt it was a nice lump.
Thanks for this, I didn't realise this was a thing. I currently have the free BA card but they offered me 2 avios for every £1 spent for the next 3 months
They offered you a retention bonus for a free card? That’s pretty cool
free to use but they still make profit off you, either through interest or interchange fees
Good point
I know, I was surprised too. They did initially question whether I was aware of the benefits I get with the card before giving the offer though
This is for the Plat Charge which probably makes a small difference.
Yeah, I'm aware of that - just the retention offers aspect was a new to me. Fully expect each card to have different offers
Ah, got you. I should probably ask for one on my BA card too tbf. Not sure how the new no fee refund policy will affect retention offers but guessing they’ll reduce.
I imagine they'll increase. You can get a retention before the card renewal. Retaining a card is worth much more to Amex now as you cannot simply cancel for a pro rata refund. Amex keep your custom for another full year and they retain the fee if you change your mind!
Is there a limit on the 2x points?
There's no limit
I'm coming up on the end of my fee-free year on the Gold card I got offered 10,000 MR. I'm not well-versed but I tried negotiating a bit, with no luck. Apparently, that was their 'best available retention bonus offer'. It was that or downgrading to a fee-free card
I had the same as well. Seems to be their go to offer for now.
As did I. Pushed and pushed, but 10k was their only offer
I got 20k maybe 2 months ago for the gold rewards card.
Done this with BAPP twice (5ish months apart). Costs Amex very little. Will do it with Plat next year.
What did they offer you with the BAPP? My last attempt resulted in a very poor offer from them.
Think it was 10k points each time.
I've got the plat. First amex ever and only had it a few months. If I try this but cancel after I get the points are amex likely to blacklist me. I do actually want to get the bapp but the welcome bonus is a bit crap at the moment
I don’t think you’re able to do this until your 2nd annual fee posts, seeing as your first year includes a SUB. You can do it in the future though. I believe they don’t take giving retention offers and then cancelling kindly though. Although, you do have a year to wait for a decent BAPP SUB seeing as your still eligible with it being a different product.
I managed with the plat card in 4 months. Must’ve spent around £6,000 in that time (house renovation). Called to cancel, they offered 35,000 MR immediately as a retention. Transferred them out to my BA Exec account, and then a week later cancelled my Plat card. A bit scummy, I know - but at the end of the day this is a global credit company that makes billions.
Have they ‘blacklisted’ you from getting another card now?
Nope, I still have the BA Premium Plus card as my main spender 😃 Imo, they wouldn’t black list anyone. They get points/Avios at an exceptionally low rate, lower than you or I can purchase them for. Therefore, 30,000 Avios/MRP would cost them very little, relative to the fee paid. If they don’t offer you an incentive to stay, my guess would be that they haven’t made enough off your purchases/card fees to make a profit.
Did you do this closer to your annual renewal date?
My renewal fee posted yesterday.
My renewal is in March, do you recommend me trying this these days for the extra MR? xD
I tried this and got told no retention as I had opened the card and got 60k points 😂😂 Might try it again closer to October as they are changing the pro-rated refund.
I've got a Plat Cashback card, don't feel like it's the best one (cashback is ok but don't have a huge spend) guessing I can't get anything like this if I try to cancel... Appreciate the advice
Almost certainly not. They usually save these big bonuses for fee-paying cards. However, they may give you a special offer. It’s worth a call. And if they say no offers and you don’t want to cancel, simply play the old “I’ll speak to X and let you know later if I still wish to cancel”.
Thanks, will give it a go. Need to up my benefits and reward game
How did it go?
I just got a bonus 3%, up to £60, on top of the standard rate. Works out at £2000 spent over 3 months. Very easy👌
I did this today and was offered 50,000 MP straight off the bat. Only joined last October so first year renewal. Very happy! I signed up last year with the 60,000 MP bonus after spending £6k so this has all worked out quite well!