"I'm considering canceling my card because of the annual fee"

Not my actual card--in case you were wondering

So just about a year ago, I got into the whole points/miles and credit card churning game. The first card I opened was the Citibank AAdvantage Gold Visa using a targeted offer that I got in the mail. Well, this card has a $50 annual fee and that fee was coming due soon, so it was time to give a call to the good old Citibank retention department to see if they would waive it. Of course, I was perfectly willing to follow through on the cancellation should they have declined as I haven't been using the card much.

So I called 800-444-2568 and after giving my account number and verifying my info I say, "I'm considering canceling my card because of the annual fee, and I wanted to see if there was anything you could do about the fee before I cancel it."

The CSR says they'd hate to lose me as a customer. "Well, I can't waive the fee, but I do have an offer you might like." She then offers me a $50 statement credit and a bonus of 750 miles (basically 2x miles) in any or every month that I spend $750 for the next 16 months.

I tell her that does sound pretty good, but I was wondering if there were any other offers.

She says yes, one more, but it's not as good--$50 statement credit for making five purchases in the next three months.

I agree that the first offer is better, confirm that I'm taking it and we're all set!

Basically, while a $50 statement credit isn't exactly waiving the fee as per Citibank, it's close enough for me. The CSR said the credit may take 1-2 billing cycles to post, so I should pay the fee when it's due. As for the bonus miles, I don't use this card much anymore, however, I may be able to shift some spending to it during the months I'm not trying to meet a minimum spend on another card.