Published on July 13th, 2017 | by Chuck33
Flexperks Will be Worth 1.5 Cents in 2018 and Beyond [Down from up to 2 Cents]
[Update 7/13/17: Reposting since this is now confirmed. Picture at the end of post.]
Beginning January 1, 2018, US Bank Flexperks points will be worth a flat 1.5 cents per point toward travel redemption, down from the current tiered system where it’s worth between 1 cent and 2 cents.
Reddit user AlienBrainJuice got the following info from a US Bank insider:
Beginning Dec. 31, it will be easier to understand redemption of FlexPoints. Each FlexPoint will be valued at at 1.5 cents when redeeming for car rentals, airline tickets, hotel rooms and travel packages. Redemptions made prior to Dec. 31 will continue to use the current tiered rate schedule.
Effective Jan. 1, 2018, all earning tiers will be removed for all FlexPerks products. There will no longer be a cap for points earned at the 1:1 rate, regardless of the amount spent. Additionally, the definition of “charitable organizations” will expand to over 1,000 entities. The accelerated earn rate for charitable organizations will be 2X on all FlexPerks product with the exception of FlexPerks Reserve, which will continue to earn at 3X.
The big news, of course, is that Flexperks will be have a lower maximum value, although it’ll obviously be simpler. After the change, Flexperks and Altitude points will be the same, and I suspect they’ll make transferring from Altitude to Flexperks possible (something they mentioned might come in a future update). Currently, it’s only possible to transfer Flexperks > Altitude, not Altitude > Flexperks,
Also noted is that Charity will earn 2x, not 3x, as we reported previously, though the category will be broadened. Interestingly, the Flexperks Reserve will continue to earn 3x, something we didn’t know previously. And the expanded categories will be valid on the Reserve too, I assume, which could make for a real selling point on that card.
They also not that there will no longer be a cap for points earned at the 1:1 rate, regardless of the amount spent. Previously, there was a $120,000 annual spend limit, after which point the card only earned 1 point per $2 spent.
Update 7/13/17: These changes have now been confirmed. Here’s a picture being sent out regarding the changes. (Thanks to plainclothesbot on r/churning.)