This is not new (Chuck posted about it back in 2023) but seems some people are unware but Bank of America is offering retention offers of $175 when you spend $1,500 within three months. Interestingly it seems that these offers are being extended to cards without an annual fee and the chat bot is able to extend the retention offer.
- Ask chatbot to close credit card
- Go through steps until you see the offer OR it says submit (submitting will close the card)
- See also this comment for an alternative method to use on a computer.
We do have a post about retention offers and tips although it’s 11 years old so probably needs some updating. Before closing any card it’s always a good idea to see if you can get a retention offer.
F.A.Q’s
How do you check if you’re eligible?
Use the method outlined above via the app (chatbot) or you can follow these instructions (via BlakeD):
- Go to card page
- Click information & services
- Click close credit card account (not everybody will see this option. If your page looks like this linked image you’ll need to call in)
- Click no to fraud prompt
- Click not now to spending your rewards
- Magic, see offer
If this still doesn’t work try calling in.
What cards are eligible for this offer?
There is no complete list of cards that are eligible, but we have confirmed reports of people receiving this offer on the following cards:
- Travel Rewards
- Customized Cash Rewards
- Premium Rewards Elite Visa Infinite
- Atmos (worked even after downgrading?!)
- Atmos Ascent
If you have a card you might as well try.
Are business cards eligible for this offer?
I haven’t seen any reports of this working on business cards, but happy to be proven wrong.
How old does the card need to be before you’ll be eligible for an offer?
Not sure if there is a minimum length, some datapoints: 1,
- Didn’t work: 1 (less than two months)
Can I get this offer on more than one card?
I don’t think so, for most people the offer will disappear on other cards when you accept it on one of your cards so it’s worth trying this on the card you most want to cancel first.
Can I get this offer even if I still use my card?
Yes.
Hat tip to reader matt9
