2019 has come and [almost] gone, marking another year for me with the Platinum Card by American Express for Ameriprise Financial.
As such, I made the call (as I do every year) to find out if there were any retention offers available to me to help in my decision to cancel the card or keep it for another year. Would I get lucky once again?
My Retention Offer for the Platinum Card by American Express for Ameriprise Financial [2019]:
The Retention Offer Inquiry Call:
I called the American Express Retention Line at 1-800-452-3945. I quickly got a representative, told him I was trying to determine if I should keep the card after the $550 annual fee just hit, and asked him if there were perhaps any offers available to me that could help me with my decision.
He came back with the standard stuff, “well, did you know we have benefits on Uber, lounges, and airline incidental (etc.)?” I said I was finding the airline incidental credit very hard to use, and that I wan’t a fan of the increased annual fee [$550].
Immediately, he came back and said, “yes, there are two offers”. After reminding me the offers he was about to read were based on a variety of factors (including, but not limited to, annual spending on the card, years of card membership, credit history, etc.), he read the following:
Offer #1: 50,000 Membership Rewards points [with no requirements]
Offer #2: $500 credit to my card [with no requirements]
Note: I had about $1,500 worth of spending on this card during this card membership year.
To Keep Or Cancel?
Honestly, I’m not happy with how hard the airline incidentals have become to use, and I’m not fond of the fact American Express raised the annual fee to $550 [up from $450].
With that said, I did find outsized value from this card yet again. I was able to wring out $200 in airline incidentals, and I was able to use the full $200 Uber credits (which is easy if you live in a large city).
I also used the $100 Saks benefit and the $10 Saks Amex Offer.
I was able to use Amex offers on this card where I got 6,000 MR points (worth $92.40) for a Marriott stay, a $100 food credit, and $81.20 for a room upgrade.
When all was said and done, I got $783.60 in value, offsetting $550 annual fee of the Platinum Card by American Express for Ameriprise Financial by $233.60 [before the retention offer].
Which Retention Offer Did I Choose?
I valued Offer #1 at $770 (thanks to the 35% airline bonus of the Business Platinum Card by American Express), and Offer #2 at $500 outright.
I went with Offer #1 as I could now boost my value from this card from just $233.60 to $1,003.60!
The Bottom-Line: My Retention Offer for the Platinum Card by American Express for Ameriprise Financial [2019]:
It’s always worth a call to find out if there are any retention offers available if you are the fence about keeping or canceling your card.
In this case, I got an amazing retention offer for the Platinum Card by American Express for Ameriprise Financial.
Of course, next year I’ll have to repeat this process. But for now, this card is a keeper.
Cheers!
