5 Things to Know About the U.S. Bank FlexPerks Credit Card
U.S. Bank’s FlexPerks Gold card is a midtier travel card with some benefits, but not as many as you might expect from a card with a nearly $100 annual fee.
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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.
Here are five things to know about the U.S. Bank FlexPerks Gold card.
🤓 Nerdy Tip
U.S. Bank used to offer a full portfolio of FlexPerks cards, including the U.S. Bank FlexPerks® Travel Rewards® Card. As of May 2024, 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. You can get a $25 airline allowance on award flights
When you book a flight using a minimum of 10,000 FlexPoints, you can receive a $25 credit to cover the cost of purchases like in-flight food and drinks, seat upgrades, and baggage fees. It's important to note, though, that this credit isn't automatic. You have to call customer service within 90 days following your trip to request it.
Other cards offer similar credits that are much easier to use. Take the Bank of America® Premium Rewards® credit card. For an $95 annual fee, you'll get a statement credit of up to $100 to cover airline incidentals, which is automatically applied to any qualifying expense. You'll receive this credit no matter how you book your flight: You don't have to pay for your flight with rewards, or even book it through Bank of America's travel portal.
3. The card doesn't let you transfer your rewards to partners
Assuming you can take advantage of the FlexPerks card's statement credits, you can easily offset its fee of $85. But most cards in its class allow you to transfer rewards to airline and hotel partners, which can significantly increase the value of your points.
For example, each Ultimate Rewards® point you earn with the $95-annual-fee Chase Sapphire Preferred® Card can be worth as much as 1.75 cents, depending on how you redeem them. But Chase also allows you to transfer any points you earn to several airline and hotel chains at a 1:1 ratio, including United Airlines, Southwest Airlines and World of Hyatt.
If you transferred 10,000 Ultimate Rewards® points to World of Hyatt, you'd receive 10,000 Hyatt points. But, according to NerdWallet's valuations, each Hyatt point is worth a whopping 1.8 cents, nearly doubling the value of any points you transfer.
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.
- Gift cards.
- Merchandise.
Cardholders cannot earn or redeem FlexPoints if a minimum payment is past due.
🤓 Nerdy Tip
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.
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