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Recently, I wrote about my rather disappointing retention experience and offer from Citibank with respect to the Prestige MasterCard (see, Citibank Prestige: My Lukewarm Retention Offer and My Decision).
As I explained, I made some retention calls to Citibank and was offered two options, neither of which made me jump up and down.
- Option 1: $200 statement credit after spending $4K per month for 3 months.
- Option 2: Additional 4X ThankYou points per dollar on hotels and airfare for 6 months. Up to 35K bonus points.
The thing about retention calls is this: If you don’t like the offer – Hang Up Call Again – HUCA. You never know what will be offered the next time. So, I neither accepted nor rejected the above options – rather I told the agent that I needed to consider the offers.
I called back a few days later. The rep was very sweet, but didn’t have a new offer. At the end of our call, she said something like – – you’re so nice, and such an important customer, I will offer you an extra Thank You point for every dollar spent for six months (up to a limit, I believe of 50,000 Thank You points). We discussed this – and she clearly said this was not a retention offer – that it was in addition to any other offer I might receive. She said that I was free to call back and check for offers. When she read the disclosure to me, I asked her whether the conversation was indeed being recorded. She confirmed that the call was being recorded and confirmed further that this offer was separate from and did not count as a retention offer.
Can you guess what happened next? Of course you can!
I called back a week later and spoke to a third representative. I asked if there were any new retention offers available. I was told – YOU ALREADY ACCEPTED A RETENTION OFFER – 1 THANK YOU POINT PER DOLLAR FOR 6 MONTHS. I reiterated that that offer was not a retention offer. The agent agreed to research the matter by going back and listening to the recorded conversation.
What recorded conversation?
She called me back the next day. She said they were unable to locate the recorded conversation (sometimes I wonder if they actually ever record conversations or keep recorded conversations).
$100 Statement Credit
The rep then said, as a courtesy, and for your trouble, we will give me a statement credit of $100 – no minimum spend required.
So, here’s the result. I have to pay the $350 annual fee, but I get $250 back in flight reimbursements, and I get a $100 statement credit, and I get an additional Thank You point for each dollar (up to a max of 50,000 Thank You points).
I think that’s a great outcome. Do you agree?
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.