Originally Posted by robert.loehmann

I have a couple credit cards I don't use anymore, probably like most Americans do.

One of them I called to cancel was the Chase Perfect card. It was a "Perfect" card a few years ago when it gave 5% cashback, but like many credit cards they stopped doing that. It still gives 3% but I decided to get the Chase Freedom card because it gives 3% in way more categories.

When I called Chase to cancel my first card (Chase Perfect) the CSR on the phone went over the expected excuses as to why I shouldn't cancel... What will I do in emergencies... Accrued rewards will be lost... will no longer be reported to credit bureaus..

I said "That's fine go ahead" and then she said "Looks like there's a $10 credit that will be posting to your account. If you cancel you will lose that."

I didn't understand it because I know I didn't have $10 in cashback coming since I hadn't used the card in a very long time. The CSR said it was a only a gift and not a bribe to keep the card. I decided I'd keep the card for the $10 and didn't cancel.

Looking back I realized it was a smart retention trick. If the CSR would have said "We'll give you $10 to stay" it wouldn't have worked. But because she said I would LOSE $10 I didn't want to cancel it.

I don't care if it's a bribe. Either way it's a good thing I think. I can always spend the $10 and cancel the card after if I want.