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Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.
[Disclosure: My referral link is for only 15,000 Flex Points, so you’re better off NOT using it and using the link in the post to the better offer.]
Million Mile Secrets reader Jacky (thanks!) writes in about a special offer on the US Bank Flex Perks Travel credit card.
What is your take on this card currently offered? After the spending it should be around 35,000 points, which is equivalent to ~$600 travel dollars and a $50 gift card. I’ve heard that many got denied, but with [a credit score of ] 750+ and my first time opening a card with US Bank, I should be okay. I wanted to know whether it’s worth it.
My referral link offers only 15,000 Flex Points or ~$300 in air travel with the US Bank Flex Perks Travel credit card, so I haven’t got around to blogging about it yet.
But the offer which Jacky found is a great way to get $600 towards spending on airfare or $300 towards hotels or gift cards (if you prefer those) AND a $50 statement credit!
Up to August 31, 2012, US Bank is running a promotion on the card where you earn 500 extra points for each gold Olympic medal, 250 extra points for each silver Olympic medal, & 100 points for each bronze Olympic medal which the US wins.
- 46 Gold medals, so 23,000 extra points (46 gold medals X 500 pts)
- 29 Silver medals, so 7,250 extra points (29 silver medals X 250 pts)
- 29 Bronze medals, so 2,900 extra points (29 bronze medals X 100 pts)
That’s a total of 33,150 Flex Points, instead of the regular offer of 15,000 Flex Points!
30,000 Flex Points will get you:
- $600 or less worth or air tickets or
- $300 statement credit or
- $300 gift certificate towards hotels, car rentals, and cruises
Note that you have to redeem for less than $600 in airfare in one transaction to get the maximum benefit per the Flex Perks award chart.
Travelocity powers the US Bank travel portal so you’re likely see comparable offerings on the US Bank travel portal.
The annual fee of $49 is waived for the 1st year, but you have to spend $2,500 within 5 months to get the full sign-on bonus.
Other benefits include:
- Card has Chip & Signature technology
- $25 statement credit towards baggage fees when you redeem Flex Points for an air ticket
- Double Flex Points on Gas, Grocery, or Airline purchases (whichever is the most in your monthly statement)
- 1 Flex Point per $1 spent up to $120,000 within a calendar year. You earn 1 Flex Point per $2 spend for purchases above $120,000 per calendar year
As Jacky wrote, you’ll actually earn 35,650 Flex Points once you complete the minimum spending requirements (33,150 bonus points + 2,500 for the minimum spending).
So you’ll get $600 towards air travel (you have to redeem for tickets costing less than $600). AND you’ll have 5,000 points left over which you could use for a $50 gift card.
I think this is a great deal because you can use the points to get ANY ticket, up to $600, without any restrictions or blackout dates, which is great for tickets within the US. If there’s a ticket for sale, you can buy it! You will also earn elite qualifying miles on the ticket, which may be important to some.
On the other hand, this won’t go far if your goal is an international Business or First Class ticket which can cost anywhere between $5,000 to $15,000.
This card isn’t from Chase, American Express, or Citi, so we don’t have to worry about maxing out applications from those banks.
The only wrinkle is that folks on Slick Deals and FlyerTalk are suggesting that US Bank is very sensitive to the number of recent inquiries and have been denying applications which have lots of recent credit inquiries. My last credit card from US Bank was when they issued the Northwest Airlines credit card, so I have no recent experience with their reconsideration line.
Bottom Line: $600 in air travel and a $50 statement credit seems like a great deal to me, and I do think it is worth it to apply. But as always, only you can weigh the risk of getting denied versus the potential benefit!