Credit Card Retention Offers?

I just rang up Amex to see if they had any credit card retentions offers before my card is set to renew. They told me with the new legislation that credit card companies are no longer allowed to offer incentives to keep the card, eg. points, waived annual fee etc. Does anyone know anything about this?


I think it may be a furphy, especially when this has just started with one of its competitors…

Get your 28 Degrees Platinum Mastercard® at the ready, because if you spend a minimum of $2000 on any of the great Click Frenzy Travel deals and offers, we’ll add to your savings and give you back $20.’

There were changes last year in relation to automatic/unsolicited credit limit increases and other minor changes, but no in relation to offering financial incentives such as waiving annual fees or other incentives (like 28 Degrees) to encourage the use or holiding of a particular credit card.

Choice also explored these changes and a summar can be found here…

Other future changes are also discussed here: