Holy Guacamole! Amex Just Slapped Down A $1000 Retention Offer

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$1000 Amex Business Platinum Retention Offer

$1000 Amex Business Platinum Retention Offer

I have to admit, my jaw is still on the floor. My buddy reached out to inform me of what I can honestly say is the best retention offer in the history of retention offers. No, that is not hyperbole, just honest truth. He received an astonishing $1000 Amex Business Platinum Retention offer last night.

He only spent $5,000 on the card over the last year. I have long felt like large spending on the particular card actually works against you with Amex Offers. It defies logic but that has been my experience.

Always Ask For A Retention Offer Even If You Plan On Closing Your Card

Retention offers are one of the most underrated aspects of the miles and points game. It is the only time that I actually look forward to reaching out to a bank. Whether it be by phone call, or chat, it is something I am even willing to burn wife points for. We love them so much at Miles to Memories that we have a massive database of all of the most recent offers out there.

It is always worth asking for an offer even if you are 99% sure you are going to close the card anyway. We did just that a few weeks ago on my wife’s Amex Hilton Business card and were surprised with a cash retention offer that was $130 more than the annual fee. Amex essentially paid us cold hard cash to keep the card open. We gladly accepted in our quest to $15K in 2022. I figured that was about as good as it gets, until this doozy from my buddy.

$1000 Amex Business Platinum Retention Offer

Amex Business Platinum Retention Offer Details

The annual fee just posted on my friend’s Business Platinum, and he was ready to close it, with the annual fee increasing to $695. He figured it was worth reaching out to Amex about a potential retention offer.  He contacted them via Amex Chat first but it was after the chat retention agents had left for the day. Because of that the chat rep gave him a phone number to call instead (866-376-4552).

When a retention specialist got on the phone they went through their normal song and dance and then hit him with the offer. The agent said it was a loyalty thank you credit instead of calling it a retention offer. That is similar to what they did with us too. Then the agent informed him he would get a $1000 statement credit for being a valued member. This is $305 more than the $695 annual fee for the Business Platinum card!

Once again Amex has paid someone cold hard cash to keep one of their cards. We have heard of them waiving the annual fee in the past but now we have two separate data points, in just the last few weeks, of them going above and beyond the annual fee. This doesn’t even include all of the free perks my friend will get from the card over the next year too. It is like a $800+ gift from Amex. That is hard to beat!

Final Thoughts

My buddy of course accepted the offer, because…duh.  I am hopeful I get something similar when I call for my Business Platinum card later in the year. I won’t hold my breath though.  Has anyone else received a $1000 Amex Business Platinum retention offer? Let me know if you have had anything similar on this card or any other Amex card in the comments.

Mark Ostermann
Mark Ostermann is a father, husband and miles/points fanatic. He left the corporate world after starting a family in order to be a stay at home dad. Mark is constantly looking at ways to save money and stay within budget while also taking awesome vacations with his family. When he isn't caring for his family or taking a weekend trip, Mark is working towards his goal of visiting every Major League Baseball ballpark.

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31 COMMENTS

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31 COMMENTS

  1. I spent 50k on the card in a year prior to the pandemic and more over the years and received nothing to stay on so I closed the card
    Took offers from Chase & Citi
    I like their customer service better and they recover from problems better
    I had 40 years with Amex and millions spent and they let me walk.They also screwed me out of of some membership Rewards points.Don’t miss them at all.They were an amazing company years ago and suck today.Take away their point earnings partners and most would walk away and never look back
    So obviously YMMV

    • I do find it counterintuitive or maybe it is just arrogance to reward people that don’t spend with big retention offers vs people that put a ton of spend on their card.

  2. Wow. I called and got the offer on my Hilton Amex card in January. That they pay you $130 over the fee. Well keep it another year to set what happens (devalued Hilton points have us second guessing Hilton). Hoping maybe I get something for my platinum card

  3. Does Amex track these offers across customers? Ex: If I have 2 platinum cards and get an offer on one, does that have any impact on my asking about a 2nd offer?

    • Likely, so if you get a good offer get it since you don’t know for sure you will get one on the other.

    • Similar for me. Offered $550 or 55,000 points after $4000 spend in 3 months to keep my personal Platinum open. I have so many points right now that I took the cash.

  4. How do you guys always get these awesome offers? Whenever I try I get nothing or very little and I actually spend on the card.

    • I NEVER received and offer until I stopped spending on my Amex cards for about 8 months. Then, bang, an offer on the first try. 40k for $3k spend on the Platinum. I’d been a heavy spender on my Amex cards prior to that so they didn’t seem concerned with keeping me as a customer.

      • I really do think they think if you spend a lot then you’re more likely to keep the card. My best offers have been on cards I don’t spend much on.

    • I called the same number and was offered the same $1000 offer. Thank you kindly and keep up the good work. Spend was AF + Airline Credit. No other spend. Card was cancelled last year due to Adam and reinstated.
      My earlier message somehow messed up.

    • Updated the post – only spent $5,000 over the last 12 months. Spending seems to play little roll in retention offers from Amex which doesn’t make sense but how it has always been.

  5. The big question is what is his annual spend on the card as that HAS to be a factor in the retention offer.

    • Updated the post – only spent $5,000 over the last 12 months. Spending seems to play little roll in retention offers from Amex which doesn’t make sense but how it has always been.

      • AMEX swearing up and down there is no 1k retention offer and never has been. I pointed them to the many reference points that suggest otherwise and they weren’t having it. The only offer is a statement credit of $695 right now

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