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The ultimate guide to credit card retention offers - The Points Guy

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It's wise to periodically look at the credit cards you hold and gauge the value they provide. Sometimes, cards you may have opened for specific benefits stop being useful. And other times, bonus categories can become less (or more) valuable if there's a shift in your spending habits. If you're paying an annual fee, a card you no longer use may not be worth keeping. However, before you decide to cancel or downgrade as your card renewal approaches, you should talk to a customer representative to see if you can score a retention offer that makes the card worth keeping for another year. Here's what you need to know about these valuable incentives to hold onto your top credit cards. Once a credit card issuer has spent hundreds of dollars (with a welcome bonus in cash back, points or miles) to entice you to open a card, it needs to find a way to recoup that investment. If you close your card after only a year or two — especially if you aren't using it regularly — the issuer will likely lose

ADVERTISEMENT Guides The ultimate guide to credit card retention offers Senitra Horbrook Senitra Horbrook Contributor Senitra is a credit cards expert and TPG contributor. Senitra spent seven years working in marketing, has been a freelance writer for numerous websites and worked as a full-time reporter and editor for several daily and weekly newspapers in Texas, New Jersey and Pennsylvania. She has been quoted on her credit card expertise in MarketWatch, Consumer Reports and Kiplinger. Danyal Ahmed Danyal Ahmed Credit card writer Credit card writer Danyal Ahmed is an avid traveler, averaging

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