U.S. Bank offers something called ‘real time rewards’ where you can redeem points for purchases in ‘real time’. When redeeming against travel purchases points have previously been worth 1.5¢ each, unfortunately there are reports that when redeeming Flexperks points are now only worth 1¢. Flyertalk user barrykryshka made a Delta purchase for $417.60 and was told it would cost 41,760 points (1¢ per point). After calling U.S. Bank they were told that this change was made on March 1st and that a letter should be sent out soon to explain this change.
We’ve previously reported that U.S. Bank will be discontinuing the Flexperks cards for new sign ups on March 9th and will be launching two new Altitude cards. I suspect this devaluation is part of that change. That being said, it’s not a good sign that U.S. Bank is making a no notice devaluation and seems unfair to those with a pool of points that were expecting to be able to redeem them for 1.5¢ per point.
Some things to point out: Altitude card is still getting 1.5¢ per point & booking through the travel portal is still getting 1.5¢ per point.
