Recently, I had a big decision to make about my Citi ThankYou Premier credit card.
When the $95 annual fee came up, I needed to decide whether or not I should keep it or close it.
My first reaction was that this card was a goner. I had previously used up just about all of my points, leaving my account with a miniscule balance of 33 points.
Rather than just close the card, I figured it wouldn’t hurt to see what kind of retention offers might be available.
I called the phone # on the back of my card and it took me over two minutes to get to a real person. Definitely annoying…
I then went on to explain how I wanted to close the account, mainly due to not really using my Citi ThankYou Premier anymore as well as the $95 fee. The rep immediately mentioned that since my concern was the fee, I could convert my card to a no annual membership fee card with Citi. She then said, “is that OK?” I quickly responded, no.
After a silent pause, I was told that I was going to be connected to an account specialist who could assist me better.
Again, I was asked for the reasons why I don’t use the card. I mentioned how I use certain cards for different kinds of purchases etc… The rep then mentioned how I get 3X points on travel, 2X points on dining. She tried to make a big deal about all of the great travel perks included, as well.
The retention offer:
I was told that there was an opportunity to get 1,000 bonus points plus a $95 credit to cover the annual fee if I spend $1,000 per month on my Citi ThankYou Premier card for 3 months.
After hearing the offer, I said something like 1,000 bonus points isn’t really much of an offer. The rep seemed to think that it was a great offer and didn’t have anything else for me.
I passed on this weak retention offer and was then told that I’d now need to wait 24 months for a new card which earns ThankYou points.
Before finishing up the call I was then asked if i’d like to move some of the credit to another account. I didn’t see the harm in doing this so I moved the majority of my credit line to another card.
Have you received a retention offer for the Citi ThankYou Premier card? If so, what was your offer?
If you’re looking to get a new credit card to earn some bonus miles & points, considering checking out some offers here. (If you apply for and are approved a credit card, I may earn a commission. Thanks in advance for your support!)
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JD- Well what point would it be to give the info in a title? For you not to read the post? I’ll stick to picking the titles for my blog, you do as you choose for yours! 🙂
WR- The thing is that I had 33 points left in my account and what’s 1,000 TY points worth? Not much! I’d rather reset the clock and get a new card with a signup bonus when the time comes. If I had a decent balance of points, I most likely would’ve accepted the offer.
Jamie- Not bad! Do you have a lot of TY points in your account?
Ed- With a hefty balance, I get keeping the card but why didn’t you take the retention offer in this case?
I had a very similar experience a few months back. I did not take them up on the retention offer, but I have kept the card–at least for another year. I have alot of miles accumulated that I am not sure what to do with yet, but I have a goal of moving them before my annual fee pops up again. If I were constantly traveling, the 3x point feature would be worth it, but for me, not really.
We were offered a $95 credit if we spend $95 in the next two billing cycles. Done!
I think you made a mistake. Why not take that offer and avoid resetting the 24 month clock? No AF and 1k points isn’t horrible.
Why are so many of your article titles questions? Why can’t you give a quick bit of information instead of making us click to find out?