Last year I signed up for the American Airline Citi Executive credit card as it found it a great way to access the American Airlines Admiral club for just $250 after a one time sign up bonus credit was applied to the account of $200. The $450 annual fee was steep, but with the $200 credit, a 100,000 bonus miles, anytime Admiral club access with 2 guests, and the discount AA awards which I used to fly my partner around the US to multiple Seahawks football games from Kansas City to Charlotte, I found the fee well worth it.
This year I was ready to cancel the Citi Executive card as I still value my American Express Platinum more than this card and I wasn’t ready to pay out $900 in credit card fees for both cards. When the annual fee came due, I called Citi and told them I wanted to cancel the card. I was quickly transferred to a retention specialist who offered me a retention bonus I could not resist–A $50 credit every month for 7 months as long as I charged $1500 or more on the card each month! This would reduce the annual fee to $100!
It didn’t take me long to decide that the reduced $100 annual fee was more than worth the benefits that came with the card and I decided not to cancel it. After all, I had just used the new $100 global entry credit to renew my brother’s global entry, meaning this card was essentially fee free for the year!
If you are debating canceling a card because the annual fee is too high, always call the card issuer! As you may too be offered an equally as good or better retention bonus!
Have you tried to cancel your Citi Credit Card or another card lately? What did the bank offer you as a retention bonus?
* I do not recieve any commision for indiviuals who sign up for this card, my thoughts and posts are mine and I do not repersent Citi Bank