Originally Posted by
magicspot
how do you end up at a retention specialist and what do you say? id like to cancel? and then they automatically offer you a special retention deal?
Originally Posted by
sbc94523
Pretty much.......that's how it works.
I specifically ask for the 'cancellation department'. I do not believe the CSR that you get when you just call the 800 number on the back of your card is authorized to give out retention bonuses, but, they are allowed to just cancel your card. Asking to speak with the 'cancellation department' guarantees you'll be passed to the 'retention department' (because technically I do not think there is such as a think as 'cancellation department' in this case).
Originally Posted by
deant
Why not just cancel online? Don't have to hassle with the retention dept. and it only takes a minute.
You are absolutely correct if you want to cancel your card most efficiently.
On the other hand, I kind of like the retention bonuses. I call about a week before statement end date, get offered a nice retention bonus, keep the card one more week, and then call back again to cancel, and perhaps be offered another retention bonus. If not, I can cancel anyway. It never takes more than 3 minutes of phone call to do all this.
One of the retention bonuses turned out to be 5 AAdvantage miles per $1 spent on gas/groceries/drug stores. Kind of replaces the old Citi Dividend Platinum Select card they used to have (5% cashback). Since my annual fee wasn't due for another 8 months, and I no longer have a 5% EDP card any more (as Citi and Chase have both killed their respective programs), and I do in fact buy gas, groceries and stuff at drug stores, why not enjoy extra points when I spend there?
Actually, the retention bonuses that have to do with bonus points per spending has gotten me thinking about my churn. Would it be wise to 'bluff' a cancellation when you immediately get the card?
You're going to have to spend $750 in order to get your 25K AAdvantage miles anyway (likely spent at the US Mint in my case). Why not see if you get the offer that gives you 2 AAdvantage miles per dollar spent everywhere prior to actually trying to spend to reach that $750 threshold? Naturally, it becomes a big waste of time if they call your bluff... as I'm obviously not going to cancel until I collect that 25K miles. Just a thought, and not sure I'd actually try it... but I would be interested to hear if anyone actually has.