Blue Business Cash Retention Offer

We decided to do some spring cleaning (yes, in the summer) on our American Express credit card lineup. If you have read our guide on the application rules for every major bank, then you know Amex has a 4 or 5 credit card limit at any given time. We were looking to add some new cards to our portfolio and needed to clear out some slots. One of the cards we were looking to close down was a Blue Business Cash card. I grabbed this a few years back when there was a no lifetime language offer for the card, but we haven't really used it since. At this point it was just taking up a valuable slot so I looked to close it. Being the good ToP person I am, I decided to see if there was a Blue Business cash retention offer before closing it. Yes, getting a retention offer on a no fee card is a thing.

Why Would You Ask For A Retention Offer For A Card With No Annual Fee?

This may sound strange to you, since a retention offer is usually used as a way to offset a card's annual fee. They can even be worth a ton more than that at times too. What is the point in asking for one on a no fee card then? Because a retention offer is something to keep you from closing an account, and has nothing really to do with an annual fee. Keeping a current customer is a lot cheaper than enticing a new one after all.

In the past I have received a retention offer on my Blue Business Plus card, and some have been as high as $300. People just tend not to ask for no fee cards because it feels weird. Plus, the offers are not as high, or as frequent, as you see on some of the premium annual fee cards.

My Personal Experience

I went through a few different cards with the Amex chat rep, checking each for any retention offers, but saved the Blue Business Cash card for last. I figured it was the least likely to get any kind of offer. Funny enough, the Blue Business Cash retention offer was the only one I did get of the three. Here were the terms of the offer:

• Earn $100 statement credit with a $5,000 spend requirement that you can meet within 92 days of accepting the offer.

That isn't a super sexy offer, but it isn't terrible either. After the $5,000 in spend I would get the $100 bonus, plus another $100 from the 2% cash back the card earns. That is essentially a return of 4% on that $5K in spend, which is pretty good if it is in a non bonus spend area. Much to the dismay of the rep, I decided not to accept the offer.

Why Didn't I Accept The Offer?

Getting any offer on a no fee card sounds pretty great, so why wouldn't I accept this Blue Business Cash retention offer? That is exactly what the Amex chat rep was asking. She just kept saying, but there is no fee and you get $100…what are you doing?

The reason I decided to still go ahead and close the card is because the credit card slot is worth more than $100 to me. I can get 25,000 or 30,000 Membership Rewards via a referral from my wife, plus I get a card that is more useful to me. My plan is to grab another Hilton Surpass to replace the Hilton Business cards that we have after their horrible recent changes. The Surpass card is the far superior option now, since it still has the $15K free night certificate as an option, and a better earning structure for me.

I could have still accepted it, since I closed one other credit card during the chat (the third was a Business Platinum). But that would have quickly put me right back at the cap. If the offer had been $200 or $300 then I would have been more tempted to keep it.

Blue Business Cash Retention Offer: ToP Thoughts

If nothing else, my Blue Business Cash retention offer proves that getting an offer on a no fee card is a thing. That is why you should also ask if there is an offer on your account whenever you are going to close a card. Even if it is a card you plan on keeping long term, like the Blue Business Plus, it is worth asking for one every once in a while. At least once the first 12 months have passed since signing up. It is an opportunity to increase your overall return. Something we are all here to do!

Let me know if you have ever received a retention offer on a no fee credit card over in the ToP Facebook Group.