One of the primary reasons for signing up for a new credit card is the sign-up bonus — some of which can be 100,000 points or higher. But, in order for credit card issuers to make a profit from the relationship, they need those cardholders to maintain their account and use their card for years.
That’s why credit card companies will sometimes offer dissatisfied cardholders a retention bonus for keeping their account open. This offer can vary from bonus points/miles to a waived annual fee (generally only on credit cards with lower annual fees).
I’m generally satisfied with my The Platinum Card® from American Express. Despite the hefty $550 annual fee (see rates and fees), the card comes packed with benefits — including up to $200 per year in airline fee credits, up to $200 per year in Uber credits, up to $100 per year in Saks Fifth Avenue credits, up to $100 Global Entry or $85 TSA PreCheck credit, Priority Pass Select membership and access to Centurion Lounges and Delta SkyClubs, along with Airspace and Escape lounges. Additionally, the public welcome offer is 60,000 bonus points after spending $5,000 in purchases in the first three months.
And, those are just the headline benefits. There’s a seemingly endless list of valuable benefits offered by the card. Plus, the Amex Platinum is adding even more benefits soon. In addition to earning 5x points on airfare purchase through the airline or through American Express Travel, Amex is adding trip delay,…