Posted by William Charles on June 20, 2016
Credit Card Offers

Published on June 20th, 2016 | by William Charles

32

U.S. Bank FlexPerks Gold American Express Card Review – 30,000 Point Bonus (Up To $600) + 3x At Restaurants (Up To 6%)

U.S. Bank have launched a new credit card called the U.S. Bank FlexPerks Gold American Express Card (they also launched the U.S. Bank Cash 365 American Express card at the same time). Let’s take a look:

  • Sign up bonus of 30,000 FlexPerks when you spend $2,000 or more within the first four months of account opening
  • Card earns at the following rates:
    • 3x points at restaurants
    • 2x points at gas stations
    • 2x points at airlines
    • 1x points on all other purchases
  • $25 airline allowance with every award travel ticket booked (good towards baggage fees, in flight treats & more)
  • No foreign transaction fees
  • TSA PreCheck or Global Entry automatic statement credit reimbursement for whichever program you apply for first
  • Annual fee of $85 is not waived the first year

u.s. bank flexperks gold american express card

How Much Are FlexPerks Worth?

Sign up bonuses and category spending bonuses are only as good as the points they earned. We’ve gone in depth on how much FlexPerks are worth in this linked post (give it a read). For those who need a refresher:

  • Airfare (maximum value of 2¢ per point)
  • Hotels, car rentals & cruises (maximum value of 1.5¢ per point)
  • Merchandise (value of 1¢ per point, waste of time)
  • Gift cards (value of 1¢ per point, also a waste of time)
  • Statement credit (value of 1¢ per point)
  • Annual fee (value of 1.7¢ per point for this card, see below)

As you can see the base value is 1¢ for statement credit and up to 2¢ when you redeem for airfare (although it’s difficult to get this maximum value).

Pay Annual Fee With Points

You can use points to offset the annual fee, but only in year two onwards. The annual fee is usually $85, but you can pay 5,000 points instead. This gives you a value of 1.7¢.

u.s bank cash 365 american express card annual fee with points

Our Verdict

I think this card is definitely worth considering for the first year, 30,000 sign up points is a pretty good deal for a minimum cash value of $300 (best cash credit card sign up bonuses) and a maximum value of $600 if you redeem for flights. Just keep in mind the $85 annual fee that can’t be paid with points in the first year. You also get the PreCheck/Global Entry credit, but I imagine at this stage most people already have that from another credit card. What’s most interesting to me are the bonus categories (really just the restaurant category).

What are your thoughts on this new card? Will you be picking one up? I spend a lot of money on restaurants, so I’m very happy (especially with no foreign transaction fees). I just wish there was a 5% cash back option for restaurants. Before applying for this card, make sure you freeze these two credit bureaus first as that will improve your chances of being approved. I’d also recommend reading these 20 things everybody should know about U.S. Bank credit cards.

 



32 Responses to U.S. Bank FlexPerks Gold American Express Card Review – 30,000 Point Bonus (Up To $600) + 3x At Restaurants (Up To 6%)

  1. jnrfalcon says:

    It looks like that the old Flexperks Travel Reward AMEX is gone? Can’t find it on their website. Also the Flexperks Select Visa is gone… What a mess…

  2. rob s says:

    flexperks are quite hard to get good value out of. I do think I will get this card and wait for a flight just shy of $600 to redeem my points

  3. Credit says:

    What is the best Amex card to feed the serve now if you don’t need to meet any minimum spend.

  4. gaberiel says:

    DoC can you refer me to your post about guidelines for applying to USA bank credit cards?

  5. Aaron says:

    I’m always scared of applying for US Bank cards, but this is a great deal. Do you have any posts that provide more info on US Bank’s *potential* decision making process, like your Chase 5/24 posts? 😀

  6. chris says:

    No comprendo. In the post title you have a $600 value figure. Yet in your closing you say it is at best a $300 value ($240 if you use points for the annual fee). I’m obviously missing something here.

    • Credit says:

      He moved from 2c a point, which he says is hard to achieve to 1c a point. In other words he pulled a trump on us.

    • $240 is the minimum value you can get if you redeem for statement credit. You can get $600 if you use it for flights, that figure just applies to the sign up bonus and doesn’t take into account the AF.

  7. Joe says:

    The 30000 bonus points will post how quickly in the account?
    Whether it will be too late to pay off the annual fee?

    Thanks.

  8. P says:

    I don’t remember who posted a blog post before but I remember reading that US bank is very strict with approvals, denying those who churn a lot of CCs. Is this right?

  9. Raul says:

    @P. Yeah I believe the trick is to freeze some of ur credit scores so they are limited on what they can see in ur reports

  10. Brandon says:

    Does this count against the 4 card rule for amex credit cards?

  11. Winston says:

    Can I redeem flex points for annual fee? Seems possible from your post, but didn’t find it on their website.

  12. AC says:

    This is the wording I get from the link here when comparing the card. That makes the annual fee at 1.7¢ per point and it sounds like it’s only for the 2nd year and on
    ANNUAL FEE
    Year One $85
    Year Two+ $85 (can be offset by redeeming 5,000 FlexPoints for a statement credit)

    http://www.flexperks.com/credit/personalComparison.do

  13. Ashker says:

    US Bank Cash+ card considers Restaurants (2%) and Fast Food (5%) as two separate categories. Any idea whether this card includes fast food restaurants as well for the 3X?

  14. gaberiel says:

    Thanks for the link chuck. I followed the instructions and froze my small bureau but got rejected due to 4 application in the last 6 months. Called reconsideration and they said will resubmit for a second review. They promised me it won’t results in another hard pull. I hope it won’t turned out as a lie. Also, any tips about US bank reconsideration? I might try to call again in few days.

  15. Mickey Groom says:

    Datapoint here: Flexpoints don’t appear to work the same as other bank currencies (Membership Rewards, Ultimate Rewards, et al.) in the sense that you cannot “preserve” them by opening another card in the same family (even when you enter your pre-existing Flexpoints number into the pertinent box on the online application).

    I had a Flexperks Travel Rewards Amex and opened a Flexperks Amex Gold using the same Flexpoints number (which, incidentally, isn’t printed on the front of the Flexperks cards for some reason), then called in a week after the Amex Gold approval to cancel my Flexperks Travel Rewards Amex and was told the balance would roll over automatically to the Flexperks Amex Gold. True to the “clueless representative” cliche, this information was wrong. I lost my balance upon closure and just had to talk to multiple reps (at both the “rewards center” which handles flexpoints redemptions and at U.S. Bank proper) to get a request for my lost points to be reinstated on my “new” Flexperks Amex Gold sent out manually. 10 business days for a snail mail response.

    The takeaway: either burn all your flexpoints or redeem against the annual fee because they don’t transfer from card to card.

  16. jeff says:

    i have the us bank visa card if i go for the am ex flavor with my points combine ?

  17. DH says:

    DP: Just received an email from US Bank saying my sign up bonus needs a 5K spend, not the listed 2K spend. I sent them a screen shot of the offer and will see if they change it, but heads up to people waiting on the bonus after hitting that 2K spend to maybe check what they have listed as your bonus spending requirement.

  18. Michael says:

    You can redeem the 5000 points for the annual fee credit within the first year. I saw the option available for around 70 days before I clicked it, and from what I read it should work up to 90 days after the fee posts.

    I figured I would give it a try because I saw the option under “redeem”, and it cleared just fine.

    Just figured you all would want to know an interesting DP.

  19. Stephanie says:

    Does any one know if funding a bank account will trigger the bonus?

  20. Jenny says:

    This is a general question. I opened and closed many accounts two years ago and made $2500. Did the same recently. Is a third cycle likely or will the banks decline?
    Thanks, Jenny

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