Amex Retention

Today I've decided to test Amex Retention. For the record, they are called "Membership Consulting Services".

At the personal level, I expected the high quality agent I got; But at the policy level, they are not as good as Citibank Retention.

Basically, as an Amex credit card holder, there is nothing they can do for you that Customer Service can't. Here's what they can do:

1. Increase your line of credit if pre-approved, of refer you to the credit dept if not.

2. Make a product transfer to another credit card product.

3. Transfer your card to a lower APR of the same product, if one exists. For example, if you have the Blue 14.99%, they can convert it to the Blue 10.99%. But they can't go below 10.99%, because currently that's the lowest APR product in the Blue series.


Customer service can do all these as well, except that Retention agents may sometimes be more willing to let you do #2 and #3.


As for Amex charge card holders, they can do a whole lot more:

4. Waive the annual fee for one year.

5. "Bribe" you, by offering $50 or $100.

6. Offer a Membership Rewards bonus (5000 points, 10000, and so on).

Whatever your case may be, you'll hear a comprehensive list of the card benefits. And the funniest of all, they'd tell you they want to record the part of the conversation where you say you'll keep the card ROTFL

Of course I had no intention to cancel, just wanted to experiment. Nowadays, you really don't have to say you'd cancel, most companies would transfer you to a "R" agent upon request.


Saar

 

For retaining the Blue 10.99%, you get things that aren't available w/ Citi:

1. Blue Loot points.
2. Best Value guarantee (where you get a refund if you found the product you bought being advertised as cheaper - they credit the difference).
3. Return Protection.
4. Buyer's Assurance (extends the terms of the original manufacturer's warranty).
5. Purchase Protection Plan (provides added protection-at no extra cost-for accidental damage to or theft of covered items).

All these things cost money, and personally, I'm willing to pay 2%-3% additional interest to get them. Their co-branded cards are indeed unfit for revolving balances after the intro period. Their Optima Platinum, however, offers a permanent (non-intro) 8.9% for balance transfers.

Personally, I think their 2 best credit cards are the Blue and the Starwood Platinum.


Saar

 

Thank you miles! I didn't know that, but I assure you I'll get to the bottom of this.


Saar

 

Also, here's the direct # to Amex MCS (Retention):

(877) 286-5891, available from 8:00AM to midnight.


Saar

 

Ok, I've spoken to 2 of their apply-by-phone reps.

The Blue 9.99% is not available. I know they told me the truth, because they both offered me Optima Platinum 9.99%. They were unsure why the website says otherwise.

Normally, an apply-by-phone rep (as opposed to a CS rep) would never tell you a product is unavailable when it is, because if you do not apply, their lose their commission.

But I agree, this is false advertising by Amex on their web site.


Saar

 

I've seen that page George, and as I said, having seen it, I called reps in the apply-by-phone dept, both said it's impossible to apply for Blue 9.99% because that product is no longer available.

This is either false advertising, or a policy change that's not been implemented. Either way, considering what we've come to expect from Amex, it's disappointing.

I'll keep looking and post an update whenever I get one.


Saar

 

A rep from the Amex Online Services group has just told me the 9.99% applies, but that only those who apply through the web site would be considered for it.
She said that's why the "apply-by-phone" reps couldn't take a phone application for that rate. This is getting interesting...


Saar