Reader Mike passes along his experiences cancelling a Citibank American Airlines credit card.
Wanted to thank you for all you do on your blog! I read it several times a day and have always found useful info even though I don’t travel as much as most if your readers.
I wanted to share my recent experience trying to cancel my Citibank AA card this past weekend in case it would be helpful to anyone else. I called to cancel after annual fee came due and they gave me the following offer: $95 statement credit to offset annual fee + 1000 bonus miles each month I spend $1000 on the card for the next 16 billing cycles (basically earning double miles for first $1000 in spend)
Thought I’d pass along. Thanks again for your blog!
I had a Citibank American Airlines card that I cancelled before they made it worth my while to hang onto one (with the 10% annual rebate on redeemed miles, up to 10,000 miles back — I view the 10,000 miles as worth more than the annual fee on the card), where they offered me just a credit in the amount of the then-$85 annual fee if I made five purchases on the card.
So I made 5 small purchases, I got the statement credit. And my annual fee still wasn’t even due yet so I went ahead and cancelled the card anyway. I was $85 ahead.
Nonetheless, card companies do understand that it’s more expensive to find a new customer than to retain an existing one much of the time so will bend over backwards to keep many (though not all) of their customers.
Often frontline telephone representatives aren’t able to process card cancellations, they’ll transfer you to a specialized department of agents whose job it is to look at your account, determine if the bank wants to try to keep you, and try to sell you on staying.
Of course if you really don’t want to be sold, you can cancel in writing by mail — or online through the card’s website, either if it’s an option on the site or via the bank’s “secure messaging” system.
What have you been offered to keep a Citibank card?
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