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Every two years, US Bank rolls out an offer for bonus FlexPerks points based on the US Olympic team’s medal count. And the US team is kicking MAJOR booty, so this year’s bonus will be huge! I’m about to do an App Party, and this card will definitely be on my list to apply.
How is the US Olympic team doing?
The US Olympic team is running away with the medal count this year in Brazil. Not only do we have the highest medal count of any country… we have the highest count for each medal – Gold, Silver, and Bronze! America truly has the best athletes at these Olympic games.
Currently, we have 116 total medals – 43 Gold, 37 Silver, and 36 Bronze! U-S-A! U-S-A! U-S-A!
What are US Bank FlexPerks?
US Bank FlexPerks are the bank’s currency, similar to Chase’s Ultimate Rewards, American Express Membership Rewards, and Citibank ThankYou Points. You can redeem these points towards flights, hotels, and rentals cars at a rate of up to $0.02 per point. You can also redeem for gift cards or statement credits, but we all know that this is usually one of the worst redemptions for our points. Even worse is redeeming the points for merchandise that most catalogs offer at retail prices… you’re way better off getting a gift card, then finding that item on sale someplace else!
The minimum redemption for travel is 20,000 points, which is equivalent to $400 in airfare or hotel through their booking portal. The issue is that the FlexPerks program is a stepped redemption program, rather than a linear program. So, redemptions are in 10,000 point increments. For example, if you wanted to redeem FlexPerks points for a $450 plane ticket, rather than requiring 22,500 points ($0.02 per point), you would actually need to redeem 30,000 FlexPerks points. Those 30,000 points are better off spent on a reservation that is as close to $600 as possible.
I have heard instances where you can pay cash for a small difference above each threshold, but your mileage may vary.
How do you earn US Bank FlexPerks?
When you apply for the US Bank FlexPerks Visa card, there is a 20,000 point bonus after spending $2,000 within 4 months of applying. The Amex version offers 30,000 FlexPoints, but that’s not as good of an offer during this Olympic promotion.
With the US Bank FlexPerks Visa, you earn 2x FlexPoints at gas stations, grocery stores, or airlines…whichever category you spend the most at during that billing cycle. You also earn 2x FlexPoints on most cell phone spend. This 2x FlexPoints categories can be worth up to $0.04 per dollar spent on the card! That’s one of the best earning ratios of any card. Of course, you’ll also earn 1x all on other spend.
The Amex version provides 3x at restaurants, 2x on gas and at airlines, and 1x on everything else. The Amex version also provides reimbursement on your TSA PreCheck or Global Entry application and offers a complimentary Boingo WiFi membership!
Both cards offer up to a $25 reimbursement per flight redeemed for spend on the card — baggage fees, food & drink on the plane, upgrades, etc. Yes, the $25 works on each direction of a round-trip, so you can get up to $50 reimbursed per round trip redemption! When your travel is complete, just call customer service and request your reimbursement. I used this benefit during my flight to St Maarten for my 40th birthday last summer… it was nice to get some free drinks on the JetBlue flight!
What is the US Bank FlexPerks Olympics bonus?
During the Olympics, US Bank rolls out a special bonus promotion to increase interest in the FlexPerks program. Not only do you earn the normal 20,000 FlexPoints bonus, you will receive additional points based on the performance of the US Olympic team.
Based on these point bonuses, you would earn a TON of extra points!
- 43 Gold x 200 Bonus = 8,600 bonus FlexPoints points
- 37 Silver x 100 Bonus = 3,700 bonus FlexPoints points
- 36 Bronze x 50 Bonus = 1,800 bonus FlexPoints points
In total, with this US Bank FlexPerks Olympic bonus offer, you would receive an extra 14,100 extra FlexPoints, which is valued up to $282! And the US Olympic team isn’t done, so the bonus will surely continue to increase before the 2016 Brazil Olympic games are over.
Based on the 2012 US Olympics’ team performance in London, you would have earned 13,550 FlexPoints, which is worth up to $271. Already, the 2016 team is performing better, which is leading to an even bigger FlexPoints bonus during these 2016 Olympics.
How do you apply for the US Bank FlexPerks Olympic bonus?
To apply for the US Bank FlexPerks Olympic bonus, go directly to the US Bank promotion page here. We don’t offer this card through our links, but we always appreciate it when you use our links to apply for any cards.
Rewards Credit Cards
- Earn rewards with your everyday spend, and get a little closer to your next vacation.
- Use rewards to book hotels, air travel, gift cards, or to cover travel expenses like Uber.
- Loyalty pays off — earn double rewards when you use your card to book a trip with your favorite hotel or airline.
- Enjoy additional travel perks like travel insurance, waived foreign transaction fees, and airport lounge access.
- Terms vary by partner offer. Please see each bank’s application for terms and conditions.
The Bottom Line
I received the Visa version in December 2013, and I currently have the Amex version from my December 2014 App Party. The FlexPerks points can be combined into one account, which makes the points easier to use for larger bookings. I like having multiple miles and point buckets that I can choose from when looking to redeem for travel. Options give you flexibility and the opportunity to get the best value for your portfolio of points. When using these points, I try to buy tickets that are close to $200 increments to maximize their value. And, just like when redeeming other bank points, you will receive airline miles on the tickets that you buy, further increasing the value of your redemption!
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