Review: US Bank FlexPerks Travel Rewards Visa

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This post comes from Logan Abbott, editor of the credit cards section of MyRatePlan.com. 

If you’re like me, you enjoy peace of mind knowing your credit card rewards points can be redeemed for a variety of different things. Although I like the flexibility of a versatile rewards program, however, it does seem I usually redeem my points for travel rewards, mainly flights.

The US Bank FlexPerks Travel Rewards Visa Card offers the flexibility of versatile rewards, but gives you a little more bang for your buck when you redeem points for flights.

Advantages

  • Earn 1 FlexPoint for every $1 spent. Cardholders receive 1 FlexPoint for each dollar they spend on eligible purchases.
  • Earn double FlexPoints on purchases you make the most. In addition to earning 1 FlexPoint for each dollar spent, the US Bank FlexPerks Travel Rewards Card will double the FlexPoints of the category you spend the most in each month. These categories include gas, groceries, and airline expenses. Most cell phone expenses also qualify for double FlexPoints.
  • Earn a big bonus fairly quickly. Cardholders receive 17,500 bonus FlexPoints after spending $2,500 on purchases in the first 150 days they have the card, and flight rewards start at just 20,000 FlexPoints for a flight with a retail value of up to $400. If you spend $24,000 on purchases using the card in a calendar year, you earn an additional 3,500 bonus FlexPoints.
  • FlexPoints can be redeemed for a broad range of rewards. FlexPoints can be redeemed for travel rewards, merchandise, hotel stays, car rentals, flights, cruises, gift cards, cash back, and more.
  • Earn triple FlexPoints for donating to charity. All charitable donations made with the US Bank FlexPerks Travel Rewards Visa Signature Card earn cardholders 3 FlexPoints for every dollar donated.
  • 0 percent intro rate on purchases and balance transfers. The card offers 12 month 0 percent intro APR on both purchases and balance transfers. After the intro period expires, the APR reverts to a variable rate, currently 13.99 percent to 23.99 percent, depending on credit quality.
  • The annual fee is waived the first year. The US Bank FlexPerks Travel Rewards Visa Signature Card comes with a $49 annual fee. However, it’s waived the first year.
  • $25 airline allowance with each award ticket. Earn enough for a free flight and you’ll bereimbursed up to $25 toward incidental airline expenses, such as baggage fees or in-flight food and drinks charged to your card.

Disadvantages

  • Rewards in categories other than flights leave something to be desired. While the card lets cardholders redeem FlexPoints in lots of categories, airline flights offer the best redemption value.
  • There’s an annual fee. There are other travel rewards cards that don’t have one, like the Capital One VentureOne Rewards Card. On the bright side, however, the annual fee is waived the first year, and $49 isn’t too steep.
  • There’s a balance transfer fee: If you transfer a balance within 30 days of opening the account, you’ll pay 3 percent of the amount of the transfer or $5, whichever’s greater. After that the fee increases to 4 percent or $5, whichever’s greater.
  • There’s a foreign exchange fee: Use this card internationally and you’ll pay a 3 percent transaction fee.

Bottom line

Get it if: You have good credit and like the idea of redeeming your rewards points for airline flights. You should also consider it if you make a lot of charitable donations using your credit card.

Forget it if: You carry a balance or don’t care about redeeming rewards points for airline flights.

Follow Logan Abbott on Google+

Note: While we attempt to be completely objective when reporting on credit cards, this site may be compensated by issuers when a reader applies for a credit card through the links within credit card stories or on our credit card search page

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