Never take the first offer

I needed to cancel one of my credit cards. I rarely use the card and didn’t want to pay the $75 annual fee. I called Citi to cancel. Of course this is never an easy process. They transfered me to a retention specialist.

In order, here are the offers I was presented:

  • Citi PremierPass card2,500 bonus ThankYou Points
  • $75 statement credit (this was after saying on the first offer that he couldn’t waive the fee)
  • A balance transfer at 3.99% for the life of the balance
  • A balance transfer at 3.99% for the life of the balance, without any transaction fee
  • 5,000 bonus ThankYou Points

He persisted even after I told him that I was doing the bulk of my spending on another Citi card.

I could hear the disappointment in his voice when I canceled despite his best efforts.


About Rakesh Agrawal

Rakesh Agrawal is Senior Director of product at Amazon (Audible). Previously, he launched local and mobile products for Microsoft and AOL. He tweets at @rakeshlobster.
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