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Among the travel-specific credit cards in U.S. Bank’s portfolio, the U.S. Bank FlexPerks Gold Credit Card has the lowest annual fee — and the least amount of benefits. To get the most out of what the FlexPerks card has to offer, you’ll also need to be willing to book travel in the FlexPerks portal, which could be limiting.
For more flexibility in travel bookings, consider a card that allows you to transfer points to travel partners. If you’re after luxury perks, the U.S. Bank Altitude™ Reserve Visa Infinite® Card delivers lounge access, trip insurance and a 24/7 access to a concierge.
Here are five things to know about the U.S. Bank FlexPerks Gold card.
U.S. Bank used to offer a full portfolio of FlexPerks cards, including the U.S. Bank FlexPerks® Travel Rewards® Card. As of this writing, however, the U.S. Bank FlexPerks Gold Credit Card is the only consumer FlexPerks card that's accepting applications.
1. The card is best suited for travelers
Travelers will likely get the most value out of this card based on its rewards structure and statement credit. It earns:
5X FlexPoints on prepaid hotels and car rentals booked in the FlexPerks Rewards Center.
3X FlexPoints on dining, takeout and restaurant delivery.
2X FlexPoints at airlines, gas stations and EV charging stations.
1X FlexPoint on all other eligible purchases.
FlexPerks cardholders also receive an automatic statement credit reimbursement for TSA PreCheck or Global Entry. The Global Entry credit is available every 4 years and every 4.5 years for the TSA PreCheck.
The FlexPerks card doesn’t charge foreign transaction fees, either.
2. The card’s benefits might not justify the annual fee
The FlexPerks card has a moderate annual fee of $85, but when compared to cards with similar annual fees, that price can seem too steep for what you get in return.
Take the Capital One Venture Rewards Credit Card. For a $95-annual fee, cardholders get up to a $100 credit for GlobalEntry or TSA PreCheck, two free lounge visits a year, rental car insurance and the ability to transfer Capital One miles to almost 20 partner airlines and hotels.
Of those perks, the FlexPerks card only offers the Global Entry or TSA PreCheck credit and rental insurance. If you’re willing to pay an annual fee for a credit card, the FlexPerks card may not have the best value.
3. It has a sign-up bonus, but you'll have to spend a lot to get it
As of this writing, new cardholders can get the following sign-up bonus: Earn 30,000 bonus FlexPoints. Just spend $2,000 within the first four months of account opening.
The 30,000 FlexPoints can be redeemed for $450 toward travel expenses, which is a good welcome offer, but the $2,000 spend requirement to earn the bonus is high. The Chase Freedom Flex℠, for example, has this bonus with a noticeably smaller spend requirement: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
4. There are a variety of redemption options
FlexPerks cardholders have no shortage of ways to redeem FlexPoints, which can be cashed in for the following:
Cash back. Cash back may be redeemed as a statement credit or deposit to a U.S. Bank savings or checking account. You'll need at least 2,500 FlexPoints to get cash back.
Travel. If you book a round-trip flight using at least 10,000 FlexPoints through the FlexPerks Rewards Center, you get a $25 airline allowance credit as long as you call U.S. Bank’s Cardmember Service within 90 days after travel.
Statement credit to pay for the card’s annual fee. Only 5,000 FlexPoints required.
Cardholders cannot earn or redeem FlexPoints if a minimum payment is past due.
FlexPoints are worth 1 cent each when redeemed for cash back, gift cards and merchandise. They’re worth 1.5 cents each when redeemed for travel.
5. ExtendPay makes it easier to pay off large purchases
Some FlexPerks cardholders may be eligible for an ExtendPay plan. Similar to the way buy now, pay later works, ExtendPay lets you pay off balances in fixed monthly payments while avoiding interest charges. However, unlike some BNPL services, U.S. Bank’s ExtendPay charges a fixed monthly fee. A maximum of 50% of your credit line may be put on an ExtendPay plan.