Retention Offers Explained

Travel credit cards are amazing. They have allowed us to travel more often without sacrificing other necessities, like hard seltzer and dental visits. But what about all those annual fees? Should you really spend several hundred dollars per year to keep the cards? No. Enter retention offers.

Some people wonder how to get a retention offer, an incentive to hold onto your credit card for another year. It’s not difficult. Just pick up the phone and ask. Like when you ordered that football phone from QVC in 1990.

The short version: before you pay a credit card annual fee again, call and ask for a retention offer. Wait for the fee to post, use the card a little first, check FlyerTalk for what others got, and if there’s no offer worth keeping, downgrade to a no-fee version instead of canceling. Below are the exact retention offers we’ve actually been given, card by card — including the one bank that told us to pound sand.

What Should You Know About Retention Offers?

1. Retention Offers Definition

2. Wait For Annual Fees to Post Before Asking for Retention Offers

3. Spending Matters When it Comes to Retention Offers

4. Check FlyerTalk Before You Call for Retention Offers

5. Downgrading Your Card is Better Than Canceling

6. Our Retention Offers to Date

6a. Chase Sapphire Preferred

6b. Barclays AAdvantage Aviator Red World Elite Mastercard

6c. Southwest Rapid Rewards Plus Card

6d. American Express Hilton Honors Surpass Card

6e. Delta SkyMiles Gold American Express Travel Card

6f. Delta SkyMiles Platinum American Express

6g. Citi/AAdvantage Platinum Select World Elite Mastercard

6h. Citi Premier Card

6i. Disney Chase Credit Card Premier Visa

6j. Venture Rewards from Capital One

How to Negotiate a Retention Offer Beach

As an Amazon Associate, I earn from qualifying purchases.

DISCLOSURE: This post may contain affiliate links, meaning when you click the links and make a purchase, we receive a commission.

1. What Does Retention Offer Mean?

Miles and points credit cards offer amazing introductory bonuses. Even if you have to pay the annual fee for credit cards the first year, the value of the incentive more than makes up for it. But what about the second year when there is no large bonus coming your way?

If you like the card and get value out of it, keep it. Some cards will be worth the annual fee to you. Rather than canceling the ones that aren’t, you can ask the credit card company for a retention offer, an incentive for you to keep the card open.

Common retention offers include an annual fee waiver, a statement credit (often equal to or close to the fee), or bonus miles and points if you meet a spending requirement. An offer isn’t always available, but it costs you nothing but a phone call to ask. If you’re still deciding which cards are worth carrying in the first place, our rundown of the best miles and points credit cards for beginners is a good place to start.

There is no official instruction manual on how to ask for retention offers, but generally speaking, you should be polite and relay that you’re not sure you are getting enough value out of the card given your spending habits.

2. Wait for Annual Fees to Post Before Asking for Retention Offers

You will have the best chance to get a retention offer after your annual fee posts. Some offers do not become available until after that time.

For example, I called Capital One the day my annual fee posted. The representative was unable to see the annual fee on the statement and said there were no retention offers available. I called the next morning, the representative could see the annual fee, and a retention offer magically appeared in the system.

Even worse, if you do not wait, you could risk losing your miles and points. American Express is notorious for clawing back introductory bonuses if you make changes to your product when the account is less than a year old. Always wait for the annual fee to post before you call.

Annual Fee Will be Refunded or Pro-rated

Do not worry about having to pay the annual fee if you wait until it posts to call. The vast majority of the time, it can be refunded, either in full or pro-rated. If you call right after it posts, even if you get a pro-rated refund, you will have to pay a few dollars at most.

3. Spending Matters When it Comes to Retention Offers

You are more likely to get a retention offer on a credit card you have actually used. If you only charge enough to get your introductory bonus, you are much less likely to get an offer than when you use the card regularly every month.

If your one year anniversary is coming up and it makes sense to do so, consider using the card a few times before you make the call.

4. Check FlyerTalk Before You Call for Retention Offers

Miles and points people are a tight-knit community. The internet is replete with information about how to ~~beat the system~~ earn miles and points. I would never recommend doing anything sketchy (your toaster doesn’t need a credit card in its name), but a little information is a good thing.

FlyerTalk routinely has updated threads about current retention offers. Figure out what others were offered before you make your call.

5. Downgrading Your Card is Better Than Canceling

What if there is no annual fee waiver? Should you cancel then? Not if you can help it. Try to do a product change to credit cards with no annual fee.

The age of your accounts is a big factor in your credit score. You want to let those suckers age like New Kids on the Block. If all of your accounts are closed after a year, that will certainly not help.

Most credit card companies offer no annual fee cards within their product line. If there is no other offer available, ask to do a product change to one of those. The earnings will not be as good, but if it isn’t your main card, what do you care? This way, your account stays open and you skip the annual fee. For more on keeping a deep wallet of cards from spiraling out of control, see our tips on how to manage credit cards without accidental disaster.

6. Our Retention Offers to Date

We have made a lot of call over the past couple of years. Most have been worthwhile. These have been our results to date:

6a. Chase Sapphire Preferred

Chase Sapphire Preferred earns Chase Ultimate Rewards travel points. You can use these points to book travel directly through Chase Travel or transfer the points to Chase’s airline and hotel partners, which is usually where the real value is. One heads-up before you get attached to a particular partner: the lineup shifts. Chase dropped Emirates Skywards in October 2025, so verify the current list before you transfer. As of this update, Chase’s travel partners include:

1. Aer Lingus, Aer Club

2. British Airways Executive Club

3. Air Canada Aeroplan (replaced Emirates Skywards, which Chase dropped in October 2025)

4. Flying Blue AIR FRANCE KLM

5. Iberia Plus

6. IHG Rewards Club

7. JetBlue TrueBlue

8. Marriott Bonvoy

9. Singapore Airlines KrisFlyer

10. Southwest Airlines Rapid Rewards

11. United MileagePlus

12. Virgin Atlantic Flying Club

13. World of Hyatt

Introductory Bonus: 75,000 points after spending $5,000 in the first three months (the welcome offer changes periodically, so check the current bonus before you apply)

Earnings: Five points per dollar on travel booked through Chase Travel, three points per dollar on dining, online grocery, and select streaming, two points per dollar on other travel, and one point per dollar on everything else, plus a 10% anniversary points bonus

Additional Benefits:

1. One to one point transfers with Chase’s travel partners

2. DoorDash $0 delivery fees and reduced service fees for orders over $12

3. Earn five points per dollar on Lyft rides

4. Trip cancellation and interruption insurance

5. Auto rental collision damage waiver

6. Baggage delay insurance

7. Trip delay reimbursement

8. Travel and emergency assistance services

9. Purchase protection

10. Extended warranty protection

11. Chase 0 foreign transaction fees

12. Chase Rewards are worth 25% more when redeemed through Chase credit card’s portal

Annual Fee Chase Sapphire Preferred: $95

Retention Offer Chase Sapphire Preferred: Product change to a no annual fee Chase Freedom card

I didn’t use this Chase account much at all after meeting the minimum spend. Most of the card benefits weren’t important to us, and we don’t spend all that much on travel because we can cover the most of it with miles and points.

A no annual fee Chase Freedom card, however, works well for us. The original Freedom is no longer open to new applicants — Chase’s current no-fee options are Freedom Flex and Freedom Unlimited — but I use mine far more than I ever used the Sapphire Preferred, mostly for the rotating 5% categories.

6b. Barclays Credit Card AAdvantage Aviator Red World Elite

Heads-up, because this one changed: the Barclays Aviator Red is being discontinued. American made Citi its exclusive AAdvantage card issuer, and Barclays AAdvantage accounts are transitioning to Citi on or around April 24, 2026. New applications already closed in 2025. If you have an Aviator Red, it’s slated to become a Citi AAdvantage Platinum Select; the no-fee Aviator becomes a MileUp. Your anniversary date and credit line carry over, and new cards are expected to arrive within six to eight weeks of the late-April 2026 switch. The story below is still a useful cautionary tale, but you can’t go apply for this card anymore.

The AAdvantage Barclays Aviator Red World Elite Mastercard earned American Airlines frequent flyer miles (AAdvantage miles). The introductory bonus was stupid great, but the earnings weren’t, and Barclays was stingy with retention offers.

Introductory Bonus: 60,000 AAdvantage miles after making any purchase and paying the annual fee (this was the offer when I held the card; welcome bonuses always fluctuate)

Earnings: Two AAdvantage miles per dollar on American Airlines purchases and one AAdvantage mile per dollar on everything else

Additional Benefits:

1. First checked bag free for the primary cardholder and up to four companions

2. Preferred boarding

3. Up to $25 statement credit for in-flight Wi-Fi purchases

4. Anniversary companion certificate that lets a guest fly for $99 after you spend $20,000 on the card in a year

5. 25% off in-flight food and beverages

6. Travel and lifestyle services

7. Flight cents which round up your purchases to the nearest dollar

8. No foreign transaction fees

9. Travel coverage

10. Liability fraud protection

11. 0% APR for 15 months on balance transfers made within 45 days of opening the account

Annual Fee Barclaycard: $99

Barclaycard Credit Card Retention Offer: None. I closed the account.

This was the one and only time I have been told to pound sand. The thing about this card is the introductory bonus is amazing, but that is where it ends. Most of the benefits are fluff. Other than free checked bags (which you can get with many other credit cards and in first class), we didn’t really use any of it.

6c. Southwest Rapid Rewards Plus Card

The Southwest Rapid Rewards Plus Card from Chase earns Southwest Rapid Rewards miles. Southwest is one of Chase’s travel partners, so in addition to earning miles with this card, you can transfer Ultimate Rewards points into your Southwest loyalty account.

Introductory Bonus: a Rapid Rewards points bonus after meeting the minimum spend (the exact number and spend requirement change often — check the current offer before applying)

Earnings: Two Rapid Rewards points per dollar on Southwest and Southwest travel partner purchases, one Rapid Rewards point per dollar on everything else

Additional Benefit:

1. 3,000 Rapid Rewards points (worth approximately $45) on each card anniversary

Annual Fee for Southwest Credit Card: $99 (it was $69 when we got it — Chase has since raised it)

Southwest Retention Offer: $35 statement credit for my card and $70 statement credit for that of my husband

Chase offered a larger statement credit on my husband’s account because we spent much more with his credit card. This card historically carried fewer perks because Southwest used to give everyone free checked bags and no change fees. That changed: as of 2025 Southwest charges for checked bags on most fares, so the card’s value proposition has shifted and the benefits were refreshed (things like standard seat selection and earlier boarding) — another reason to confirm the current terms before you renew or apply.

Between the statement credit and the 3,000 Rapid Rewards miles we got for the card anniversary, we felt this retention offer was fair.

6d. Hilton Honors American Express Surpass Card

Hilton Honors American Express Surpass is my favorite American Express Rewards card. We are loyal to Hilton. This card has great benefits and earnings that more than justify the annual fee for our family.

Introductory American Express Offers Bonus: a large Hilton Honors points bonus after meeting the minimum spend — Surpass welcome offers have run well into six figures, but they’re promotional and time-limited, so check the current offer

Earnings: Twelve points per dollar on Hilton purchases, six points per dollar on dining, groceries and gas, and three points per dollar on everything else

Additional Benefits:

1. Gold status with Hilton which comes with perks including free breakfast, no resort fees on rewards stays, free Wi-Fi, fifth night free on rewards stays, bottles of water, and room upgrades

2. Upgrade to Hilton Diamond status after spending $40,000 on the card in a year which includes lounge access and upgrades to suites

3. A free weekend night stay after spending $15,000 on the card in a year

4. No foreign transaction American Express fees

5. 10 Priority Pass airport lounge visits

6. Car rental loss and damage insurance

7. Global assist hotline

8. American Express Experiences including events and access to ticket presales

9. Fraud protection

Annual Fee for American Express Surpass: $150 (it was $95 when this post first went up, and there’s typically no annual fee the first year). The card now also carries up to $200 a year in Hilton statement credits, issued as $50 per quarter, plus automatic Gold status and Diamond after $40,000 in spend.

American Express Retention Offer: Downgrade to a no annual fee Hilton card (I declined and kept the Surpass)

I was going to keep this one no matter what, but I wanted to see what they would offer. I love this card because the earnings are good at places we spend money frequently, like the grocery store. Most of the benefits are actually benefits and not fluff.

I could have downgraded to a card with lower earnings and saved the annual fee, but it would not have made financial sense to do so given how much we spend on this card.

6e. American Express Delta Card SkyMiles Gold

Delta SkyMiles American Express Gold earns Delta SkyMiles. Delta has a very limited selection of nonstop flights from our home airport, so we don’t fly them very often.

Introductory Bonus: a SkyMiles bonus after meeting the minimum spend (the amount changes regularly — check the current welcome offer)

Earnings: Two SkyMiles per dollar on Delta purchases, dining, and grocery stores, one SkyMile per dollar on everything else

Additional Delta American Express Benefits:

1. First checked bag free for cardholder and passengers (up to nine bags)

2. $100 Delta flight credit after spending $10,000 in a calendar year

3. Pay with miles

4. American Express foreign transaction fees waived

5. 20% back on in-flight purchases

6. Priority boarding

7. Delta American Express rental car loss and damage insurance

8. Global assist hotline

9. Purchase protection

10. American Express extended warranty

11. Entertainment access that includes ticket presales and events

12. Fraud protection

Annual Fee Delta SkyMiles Credit Card: $150 (up from $99 when this was written; the fee is typically waived the first year)

Delta American Express Gold Retention Offer: Downgrade to no annual fee Delta SkyMiles Blue American Express Rewards Credit Card

We don’t fly Delta very often, and I’m not overly impressed with this Delta American Express card’s earnings. The no annual fee version allows our account to continue to age. American Express pro-rates the annual fee rather than refunding it completely, so try to call as soon as it posts.

6f. Delta American Express Platinum

Delta SkyMiles Platinum American Express also earns Delta SkyMiles.

Introductory Bonus: a SkyMiles bonus after meeting the minimum spend (it fluctuates — check the current offer before applying)

Earnings: Three SkyMiles per dollar on Delta purchases and hotels, two SkyMiles per dollar on dining and grocery stores, and one SkyMile per dollar on everything else

Additional Delta American Express Platinum Benefits:

1. First checked bag free for cardholder and passengers (up to nine bags)

2. Delta American Express $100 statement credit after making a Delta purchase within the first three months

3. Delta American Express companion ticket certificate for a domestic flight on each card anniversary

4. Delta American Express TSA Precheck credit of $85 or $100 Global Entry fee credit

5. Delta American Express Sky Club access for $39

6. Priority boarding

7. Status boost

8. 20% back on in-flight purchases

9. Trip delay insurance

10. Car rental loss and damage American Express insurance

11. Baggage insurance plan

12. Global assist hotline

13. Delta American Express foreign transaction fees waived

14. Purchase protection

15. Delta American Express warranty extension

16. Entertainment access that includes ticket presales and events

Annual Fee American Express Delta: $350 (it was $250 when this post first ran)

Delta Retention Offer: Delta American Express downgrade to no annual fee Delta SkyMiles Blue American Express Rewards Credit Card (which means I now hold two Delta SkyMiles Blue cards)

Again, we don’t spend much time on Delta. If you do, this card may be worthwhile. American Express pro-rates the annual fee, so call as soon as it posts if you want to do a product change.

6g. Citi/AAdvantage Platinum Select World Elite Mastercard

Citi AAdvantage Card Platinum Select World Elite earns American Airlines AAdvantage Miles. It was similar to the Barclays Mastercard, but I always preferred the Citi version — more options, and the annual fee is waived the first year. That preference matters more than ever now: with Citi the exclusive AAdvantage issuer, this is the card Barclays Aviator Red holders are being moved to in 2026.

Introductory Bonus: an AAdvantage miles bonus after meeting the minimum spend — recent public offers have run as high as 80,000 miles with no first-year fee, but welcome offers come and go, so check the current one

Earnings: Two AAdvantage miles on American Airlines purchases, gas, and dining, and one AAdvantage mile per dollar on everything else

Additional American Airlines Citi Benefits:

1. No foreign transaction fees

2. First checked bag free for cardholder and four companions

3. Preferred boarding

4. 25% off in-flight purchases

5. $125 American Airlines flight discount after spending $20,000 in a calendar year and renew the card

6. Citi Bank Entertainment which includes presale tickets and events

Annual Fee: $99

Retention Offer: Downgrade to no annual fee American Airlines AAdvantage MileUp Mastercard

We didn’t use this American Airlines Citi card enough to justify the annual fee. We did the product change to keep the account open to let it age.

6h. Citi Strata Premier (formerly Citi Premier)

The card I held as the Citi Premier has since been rebranded the Citi Strata Premier. It still earns Citi ThankYou points you can redeem through the travel portal or transfer to Citi’s airline and hotel partners, and the $95 annual fee held steady through the rebrand. The refresh added some real earning power, including 10x on hotels, car rentals, and attractions booked through CitiTravel.com and 3x at EV charging stations, on top of the 3x dining, groceries, gas, and travel it already had. (Citi has surveyed cardholders about a possible higher fee with added benefits — treat that as a rumor until it actually launches.) Citi’s transfer partner lineup shifts over time, so verify it before you count on a specific one; when I wrote this, the list included:

1. Aeromexico Club Premier

2. Avianca LifeMiles

3. Cathay Pacific Asia Miles

4. Emirates Skywards

5. Etihad Guest

6. EVA Air Infinity MileageLands

7. Flying Blue AIR FRANCE KLM

8. Jet Airways JetPrivilege (no longer an active partner — verify the current list)

9. JetBlue TrueBlue

10. Malaysia Airlines Enrich

11. Qantas Frequent Flyer

12. Qatar Airways Privilege Club

13. Singapore Airlines KrisFlyer

14. Thai Airways Royal Orchid Plus

15. Turkish Airlines Miles&Smiles

16. Virgin Atlantic Flying Club

Introductory Bonus: a ThankYou points bonus after meeting the minimum spend (the offer changes regularly — check the current welcome bonus on the Strata Premier)

Citi Rewards Earnings: Three ThankYou points per dollar on dining, grocery stores, gas, and travel, and one ThankYou point per dollar on everything else

Additional Citi Premier Card Benefits:

1. $100 off $500 single hotel stay booked through Citibank credit card’s portal

2. Citi Premier foreign transaction fees waived

Citi Premier Card Annual Fee: $95

Retention Offer: 1,000 ThankYou points plus a $95 statement credit after spending $1,000 per month for three months

This card has some great earnings, and we love the flexibility of not being tied to a single brand. We book rental cars through the portal frequently. With the retention offer, keeping it was a no brainer.

Loews Portofino Bay Waterfront Capital one venture annual fee

6i. Disney Chase Visa Premier Card

Lord knows we love our Disney, but Disney Premier Visa kind of blows. The earnings are terrible and it has almost no benefits. It’s almost like Disney is trying to make a really large profit, but that would be so unlike Disney, so that can’t be right.

Introductory Bonus: $200 after spending $500 in the first three months

Earnings: 5% back on Disney+, Hulu, and ESPN+ subscriptions, 2% at gas stations, grocery stores, restaurants, and most Disney locations, and 1% everywhere else, plus 10% off select Disney purchases

Additional Disney Chase Card Benefits:

1. Vacation financing

2. 10% off some dining and shopping at the theme parks

3. Character experiences at the theme parks

4. 10% off some purchases at the Disney store

5. Card member events at the Disney store (come on)

Annual Fee: $49

Retention Offer: $50 statement credit

I held onto this Chase Disney card mainly for the cardholder character experience at the parks, but that was really it. Worth knowing: some of those character meet-and-greet experiences were relocated or ended in September 2025, so confirm what’s actually available before you keep the card for that reason alone. Chase has also launched a fancier Disney Inspire Visa if you want more from a Disney card. Honestly, you can still do better with a flexible card and just use those rewards to save money on a Disney trip — I’ll likely downgrade this one to the no annual fee version.

6j. Capital One Venture Card Rewards

Venture Rewards from Capital One allows you to erase travel expenses from your credit card statement, including flights, hotels, and rental cars. The flexibility to use the rewards for any brand of travel is convenient.

You can also transfer miles to Capital One’s travel partners, which is usually the better value. This list has grown a lot — Capital One now has roughly 22 partners, and it has added and renamed several since this was written (Alitalia, for example, no longer exists; its program is now ITA Airways, and Capital One added partners like JAL, Qatar Airways, and I Prefer Hotel Rewards in late 2025). Treat the names below as a snapshot and check the current lineup before transferring. When I wrote this, the partners included:

1. Aeromexico Club Premier

2. Air Canada Aeroplan

3. ITA Airways Volare (formerly Alitalia MilleMiglia, which no longer exists)

4. ALL Accor Live Limitless

5. Avianca Life Miles

6. Cathay Pacific Asia miles

7. Emirates Skywards

8. Etihad Guest

9. EVA Infinity MileageLands

10. Finnair Plus

11. Flying Blue AIR FRANCE KLM

12. Qantas Frequent Flyer

13. Singapore KrisFlyer

14. JetBlue TrueBlue

15. Wyndham Rewards

Capital One Venture Sign Up Bonus: a Venture miles bonus after meeting the minimum spend (the welcome offer changes regularly — check the current one)

Earnings: Five miles per dollar on hotels, rental cars, and vacation rentals booked through Capital One Travel, and two miles per dollar on everything else

Additional Capital One Venture Benefits:

1. Five miles per dollar on Capital One Venture Uber Eats purchases

2. Capital One Venture foreign transaction fees waived

3. Capital One Venture TSA Precheck or Global Entry $100 credit

4. Travel assistance services

5. Auto rental collision damage waiver

6. Wikibuy

7. Capital One Venture travel accident insurance

8. Capital One Venture extended warranty

9. Paribus

Capital One Venture Visa Annual Fee: $95

Retention Offer: $95 statement credit

I like the flexibility of this card, but there are better options for earnings. I will likely downgrade this one to a no annual fee Capital One VentureOne in the future.

Retention Offer FAQ

How do I ask for a retention offer?

Call the number on the back of your card after the annual fee posts and tell the representative you’re deciding whether the card is worth keeping given how you actually use it. Be polite, be honest, and ask whether there are any offers to keep the account open. Some banks route you to a “retention” or “loyalty” line. There’s no magic script — the value comes from asking at the right time on a card you’ve actually used.

When is the best time to call for a retention offer?

Right after the annual fee posts to your statement, not before. Many offers don’t even appear in the system until the fee hits, and calling early once got me told there were no offers — when I called back the next morning, the fee had posted and an offer appeared. Never make changes on an Amex account younger than a year, since Amex is known to claw back welcome bonuses on early product changes.

Does asking for a retention offer hurt my credit score?

No. Asking for a retention offer is just a phone call — there’s no hard inquiry and no new application. Downgrading to a no-fee version is a product change that keeps your original account (and its age) intact, which is actually good for your score. Closing the card is what can hurt, mostly by lowering your average account age and available credit. We get into the details in four reasons credit cards don’t hurt your credit score.

Should I cancel a card or downgrade it?

Downgrade, almost every time. If there’s no retention offer worth keeping the card for, ask to product-change to a no annual fee card in the same family. Your account stays open and keeps aging, you stop paying the fee, and you skip the hit to your credit that canceling can cause. Cancel only when there’s no no-fee option and the card genuinely isn’t earning its keep.

How much is a typical retention offer worth?

It varies wildly by bank, card, and how much you spend — there’s no fixed amount. Our own offers have ranged from nothing at all to a statement credit that fully covered the annual fee, plus bonus points in some cases. Heavier spenders tend to get bigger offers. Check FlyerTalk and Doctor of Credit for recent data points on your specific card before you call, so you know what’s realistic to ask for.

Retention Offers – Final Thoughts

Miles and points have taken our travel to another level. We travel more often with better accommodations, and we do not need to make substantial sacrifices in our daily lives.

Do not let annual fees deter you from carrying several travel credit cards. You can earn miles and points without bleeding several hundred dollars a year in fees, simply by asking for retention offers and downgrading instead of canceling. If you’re not ready to dive into a wallet full of cards, you can also earn travel points without a credit card first. Either way: travel, make memories with your family, and let the banks help pay for it.