Big Retention Offers for Chase Sapphire Reserve
In the world of credit cards, retention offers can be un unexpected “bonus”. Simply put, a retention offer is an incentive provided by a credit card issuer to keep you as a customer.
Companies know it’s often more expensive to acquire a new customer than to retain an existing one. This is where you, the loyal customer, gain leverage. They also know when an annual fee increase has left many existing customers rethinking their loyalty. The latter seems to be the case for the Chase Sapphire Reserve credit card.
If your annual fee on the card posted recently, then make sure to send a message or call and politely explain that you’re considering canceling the card due to the annual fee and want to see if there are any offers available.
Recently we have seen several data points of Chase Sapphire Reserve cardholders receiving a $400 credit with no spending requirement. That’s just over half the annual fee and I’m sure it would be a good enough offer to justify keeping the card for another year.
Even if they don’t have an offer immediately, it could be worth calling again and seeing if a different phone rep can extend you a retention offer.
But it’s worth pointing out that these offers are not guaranteed. While some people are getting $400, others are getting lower offers, or nothing at all. So depending on the offer that you receive, you have to run the numbers for yourself and decide if it’s worth keeping the Chase Sapphire Reserve credit card for another year.
Let us know if you receive an offer!
