$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.
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!
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.