US Bank's travel rewards card is a solid option - especially if you already bank with them
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- With the US Bank FlexPerks Travel Rewards Visa Signature Card, you can earn 2x points per dollar in your top spending category between gas stations, grocery stores, and airlines.
- Plus, you'll get 2x points per dollar on your cell phone bill and charitable donations.
- Redeeming points for travel is easy, with extensive booking options and no blackout dates.
Saving up rewards points for travel can unlock flights, hotel nights, and more at fun and exciting destinations around the world.
The US Bank FlexPerks Travel Rewards credit card offers up to 2x points per dollar spent, which can go a long way towards free travel. To decide if you should add this card to your wallet, it's important to look at the rewards, benefits, and costs. Read on to learn more.
The US Bank FlexPerks Travel Rewards Visa has a somewhat unique rewards structure
The US Bank FlexPerks Travel Rewards Visa Signature card offers an interesting combination of benefits and rewards. It isn't the very best rewards card out there, but it may be worth considering depending on your spending habits and travel preferences - and your desire to stick with US Bank. This card is also good for people who are averse to high annual fees, as it offers an especially valuable rewards program in relation to the cost.
The card earns 2x points per dollar on purchases with cell phone providers, plus charitable donations. It also potentially earns 2x points per dollar at gas stations, grocery stores, or airlines - but only on one of those categories. Whichever of those categories gets the most of your spending each monthly billing cycle will earn 2x points - the other categories, and all other purchases, get 1x point per dollar.
Points are worth 1.5¢ each when redeemed for travel. That means you earn an equivalent of 3% on the best purchases and 1.5% on others.
The card currently offers a 25,000 point bonus worth $375 toward travel purchases after spending $2,000 in the first four months. It charges a $49 annual fee.
Considering the annual fee, you would break even spending just $3,267 per year on "everything else" purchases. But there is potentially even more value from the card's benefits that make it worth consideration.
The FlexPerks Travel Rewards card has plenty of useful benefits
The card charges no foreign transaction fees, something useful and expected with this type of card. But it has one unique feature that is very cool and potentially very valuable.
For each flight you book with the card using your points, you get up to $25 in reimbursements for baggage fees or in-flight purchases. If you book two award flights per year and take full advantage of the $25 allowance, you made up the cost of the annual fee right there.
Another benefit the card offers is the Visa Signature Concierge. This service can research and purchase things like flights, hotels, rental cars, activities while traveling, or even online orders like flowers for a special someone.
There are also a handful of travel and shopping protections, including auto rental collision damage waiver and some extended warranty protections. It also offers travel accident insurance and gets you preferred rates at three popular rental agencies.
If you are into chatting about travel, you can take advantage of a Hideaway Report membership - an exclusive travel industry community - valued at $250 per year (digital membership cost).
In addition to travel, the card offers a few other redemption options such as cash back, gift cards, and merchandise rewards. However, these redemption options give you a lower value per point than travel, so you should generally avoid those redemption methods unless you really need the statement credit to help you pay off your balance.
Should you get the FlexPerks Travel Rewards card?
This card clearly offers enough value to pay for the costs. The signup bonus is worth as much as seven and a half years of annual fees. You only have to spend a few hundred dollars on the card per month to break even. If you do all of your regular spending on this card, it's easy to see how the rewards would stack up and turn into free travel.
The card would be more exciting if it offered an ability to transfer rewards to airline or hotel partners. The 2x rewards on charity and mobile phones is useful. The bonus on a category you spend most is also great, but some competing cards offer better bonuses and more valuable rewards. However, you'll have to pay a higher annual fee to get them.
If you are willing to pay more than $49 per year or want cash back rewards instead of travel, you can find more exciting cards elsewhere. However, if you are a big fan of US Bank and want to keep all of your financial accounts under one roof, or just find the combination of rewards and benefits enticing, this card is easy to justify.