Retention Offers: How to Get Them and When to Ask

Your annual fee is coming up. You’re not sure the card is worth keeping. Before you cancel or downgrade, there’s one more play: the retention offer.

Retention offers are incentives card issuers give to keep you as a customer. A well-timed call can turn a card from “not worth it” to “definitely keeping” with a single conversation.

When to Call for Retention Offers

Best Timing

1-2 weeks before your annual fee posts

This gives you:

• Leverage (you might cancel)
• Time to make a decision
• Option to downgrade if no offer comes

Other Good Times

• After your annual fee posts (within 30-60 days for refund)
• When you genuinely aren’t using the card
• After a significant negative change to benefits
• Around your card anniversary

When NOT to Call

• Right after getting the card (no leverage)
• If you definitely want to keep the card anyway (waste of time)
• If you plan to use the card heavily regardless

Retention Offers by Issuer

American Express

Likelihood: High (Amex is known for good retention offers)

Typical offers:

• $50-$200 statement credits
• 10,000-40,000 Membership Rewards points
• Occasionally: spend bonuses (spend $3,000, get 30,000 points)

Tips:

• Chat works for Amex (no phone needed)
• Offers vary by card and spending history
• Business cards often get better offers

Chase

Likelihood: Medium (less consistent than Amex)

Typical offers:

• $50-$150 statement credits
• 5,000-20,000 Ultimate Rewards points
• Rare: annual fee waiver

Tips:

• Must call (no chat retention)
• Co-branded cards (United, Marriott) vary
• Sapphire cards harder to get offers on

Capital One

Likelihood: Low-Medium

Typical offers:

• Statement credits ($50-$100)
• Miles bonuses (less common)

Tips:

• Less aggressive retention than others
• Better luck on premium cards

Citi

Likelihood: Medium

Typical offers:

• ThankYou points (5,000-15,000)
• Statement credits
• Occasional fee waivers

Tips:

• Results vary widely
• Try multiple times if first attempt fails

Discover

Likelihood: Low (no annual fees on most cards anyway)

What to Do with Different Offers

Scenario 1: Offer Exceeds Annual Fee

Example: $95 annual fee, offered $150 statement credit

Action: Accept immediately. This is free money.

Scenario 2: Offer Roughly Equals Annual Fee

Example: $95 annual fee, offered $100 credit

Action: Accept if you’ll use the card. Essentially free card for another year.

Scenario 3: Offer Is Less Than Annual Fee

Example: $250 annual fee, offered $100 credit

Action: Calculate remaining value. If card benefits + offer > fee, keep it. Otherwise, downgrade.

Scenario 4: No Offer Available

Action: Ask about downgrade options. Or accept the “break” and cancel/downgrade.

Frequently Asked Questions

How often can I get retention offers? Typically once per year per card. Some issuers note previous offers and may decline.

Will asking for retention hurt my relationship with the issuer? No. It’s expected behavior. Issuers build retention budgets into their models.

Can I get retention offers via chat? Amex: Yes. Most others: Phone only.

Do retention offers have terms? Usually minimal. Statement credits post quickly. Points post after statement close. Read any spending requirements carefully.

What if I accept the offer and still want to cancel later? Generally fine, but some offers have clawback provisions. Read terms.

Should I mention competitor cards? Mentioning you have a competitor’s card with better value can work, but don’t overdo it. It’s a conversation, not a hostage negotiation.

Last updated: January 2026

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