Several of my credit card accounts were hit with their annual fees last week. Up for renewal I always have to review and assess if it’s worth paying the annual fee and keeping the card for another year.
This also means calling in and finding out if the bank is will to offer a retention bonus for keeping the card open instead of closing it.
Here’s how my retention calls went…
Barclay Arrival+ World MasterCard
When I called in to cancel my Barclaycard Arrival Plus Mastercard the representative didn’t offer anything and said the annual fee is made to pay for the benefits. I recently liquidated my Arrival miles as much as possible and decided to cancel. Barclays also recently made the Arrival+ card slightly less valuable by changing some benefits which also played a role in my decision.
I may decide to apply for the card again very soon given that I was approved for a second Arrival+ card last time and earned the 40,000 mile bonus a second time. Why not try for a third…
Chase Hyatt Visa
On the first call I was offered 5,000 bonus Hyatt points with no strings attached. I accepted this offer and will keep the card as it gives a free night at a category 1-4 hotel and I still have Diamond status until 2016.
I would consider the 5,000 bonus points close to enough to cover the $75 annual fee. With the annual free night it’s worth it. 5,000 Hyatt points is enough for a free night at a Category 1 hotel.
You’re best resource for confirming what potential retention offers are on the table for Chase credit cards is with this FlyerTalk thread.
Chase Ink Plus
I’ve had my second Chase Ink Plus card for one year and called in to see if they would waive the $95 annual fee. The rep said that that was not possible, so I may try calling in again in a few days.
The biggest crux for me is that I have a large Ultimate Rewards points balance and this is my only ‘premium’ Ultimate Rewards earning card.
This means if I cancel I am left with my Freedom card and will not be able to transfer Ultimate Rewards points to travel partners.
Have you have any luck with retention offers on these cards? Share below!
|Barclaycard Arrival Plus™ World Elite MasterCard®|
|Bonus: 50,000 miles after spending $3,000 in the first 90 days.
-- 2X points per dollar spent on all purchases.
-- Get 5% of your miles back when you redeem your points, to use on your next redemption.
-- Chip+PIN technology, which can be useful for international travel.
-- Complimentary online FICO® Credit Score
-- No foreign transaction fees.
Annual fee: $89
Quick review: The Arrival Plus card is one of my favorite all-around 2X earning cards. The 50,000 mile sign-up bonus is worth $525 in free travel and easy to redeem!