Posted by Chuck on August 1, 2016
Credit Cards

Published on August 1st, 2016 | by Chuck

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U.S. Bank Olympics Promo: 20,000 Flexperks Bonus + More for Every Medal TeamUSA Wins

U.S Bank announced today, Monday that they’ll again be running their Olympics promotion for their FlexPerks Travel Rewards Visa Signature card and their FlexPerks Business Edge Travel Rewards Visa card. New applicants will receive the usual 20,000 FlexPoints and you’ll also receive bonus points for every medal won by Team USA at the Rio Summer Olympics which will take place August 5 – 21.

Press Release

The Offer

Direct Link

  • Apply for the FlexPerks Travel Rewards Visa Signature card or the FlexPerks Business Edge Travel Rewards Visa card and receive a 20,000 Flexperks points signup bonus after spending $2,000 within four months

In addition to the 20,000 points signup bonus, you’ll also get another bonus based on the number of medals won by Team USA at the Rio Olympics:

  • 200 Flexperks points for each Gold Medal
  • 100 Flexperks points for each Silver Medal
  • 50 Flexperks points for each Bronze Medal

Screen Shot 2016-08-01 at 1.03.34 PM

To put these numbers into perspective: historically, during past Summer Olympics, Team USA has won in the area of 40 Gold medals, 30 Silver medals, and 26 Bronze medals. If those numbers would materialize this time, you’d get an extra 12,300 Flexperks for a total signup bonus of 32,300.

See the latest medal count at teamusa.org.

The 20k bonus + Olympic bonus offers are valid from August 1, 2016 through September 3, 2016. This is odd since the Olympics will be over by them so if you’ll already know exactly how many points you’ll be getting which somehow seems weird.

Card Details

Personal Visa Flexperks Card

  • Earn 1 FlexPoint for every $1 spent
  • Earn 2 FlexPoints on gas or grocery or airline purchases, whichever you spend the most on every month
  • Earn 2x FlexPoints most cell phone purchases, including monthly bills, accessories and Internet charges
  • Earn 3 FlexPoints for charitable donations
  • FlexPoints are worth 1¢ in statement credit 2¢ when redeeming for travel
  • Annual fee of $49 is waived the first year

Business Visa Flexperks Card

  • $25 airline allowance for each award ticket booked for incidental expenses such as baggage and food
  • Earn 2x FlexPoints on gas or office supplies or airline purchases, whichever you spend most on each monthly billing cycle
  • Earn 2x FlexPoints most cell phone purchases, including monthly bills, accessories and Internet charges
  • Earn 3x FlexPoints on Charity donations
  • Earn 1 FlexPoint for every $1 spent
  • Annual fee of $55 is waived the first year
  • Receive a credit for your $55 annual fee back to your account if $24,000 or more in net purchases posts to your company’s account within your 12-month annual statement year

See this post for more details on the various Flexperks Business cards. And see this post to learn how much Flexperks are worth.

The Fine Print

  • This offer is subject to credit approval
  • FlexPoints will be awarded as long as one purchase is posted to the Account Owner’s individual account by Sept 30, 2016
  • This promotion is not available for existing and previous FlexPerks Travel Rewards Visa accounts. To learn more about FlexPerks Travel Rewards Visa cards issued by U.S. Bank and more about this offer, visit flexperks.com/visapromo
  • Offer valid to new U.S. Bank FlexPerks Travel Rewards Visa Signature and U.S. Bank FlexPerks® Business EdgeTM Travel Rewards Visa Card applicants who apply at any participating U.S. Bank branch location, call 24-hour banking or apply online at flexperks.com/visapromo between August 1, 2016, and September 3, 2016
  • Applicants must be approved for either the FlexPerks Travel Rewards Visa Signature or FlexPerks Business Edge Travel Rewards card and make a minimum of one net purchase to the Account Owner’s individual account by September 30, 2016, to receive the Visa Rio Bonus FlexPoints
  • The Visa Rio Bonus FlexPoints are in addition to the one-time enrollment bonus FlexPoints offer and are not contingent on meeting a spend threshold
  • Please allow 6-8 weeks after the promotion ends on September 30, 2016, for the Visa Rio Bonus FlexPoints to be credited to your FlexPoints account

Our Verdict

This promo is back again (here’s the last time around), and even a lower-than-usual spend threshold of $2,000 to get the 20,000 Flexperks bonus. Great to see that the bonus Olympics offer is valid on a business Flexperks card as well.

See also these 20 Things to Know about US Bank before applying, one of which is to freeze your ARS and SageStream credit reports.

As @esthery points out in the comments, it’s possible to refer a friend for Flexperks cards. Make sure to include your friend’s FlexPoints number on the application in the “Referring Friend’s FlexPoints #” field. Don’t use a referral link if you want the Olympic bonus credit.

Hat tip and thanks to @MinnTraveler for passing on this information to us



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@esthery

people can refer each other too! 🙂

zjts
zjts

do not see anywhere to add referrer’s flexpts #…where on app do u see it?

EBF
EBF

Anyone know if you can downgrade this card to something without an annual fee (if you can’t get them to waive it year 2)?

Sam
Sam

Wondering the same thing!

Vic
Vic

The FlexPerks Travel Reward Visa Signature card on their website indicates 2x for cellphone providers too. Does the one with the Olympics promo not offer that?

https://www.usbank.com/credit-cards/flexperks-travel.html

harvson3
harvson3

“FlexPoints are worth 1¢ in statement credit 2¢ when redeeming for travel”

[slow, exaggerated eyeroll]

FlexPoints are worth up to 2 cents when redeemed for travel, and, in my experience, often far less.

Mark O
Mark O

I think they are worth 1.5-1.75 points pretty easily. It is not that hard to find a $350 flight to get 1.75 per points.

Steve
Steve

If we apply for the card today I can’t imagine getting the card in the mail before 8/5 and so will we lose the bonus points for the medals for those days?

Brandon Wolfe
Brandon Wolfe

You have to be approved by 9/3 and make a purchase by 9/30 to be entered. pretty sure we get all metals regardless as long as you meet this criteria. So technically you could wait to apply on Aug 21st (The end of the games) and know exactly what your bonus will be.

William Charles

In previous promotions it doesn’t matter when you apply/receive the card, as long as you apply before the cut off date. You’ll still get the bonus for all medals won.

Ben
Ben

Any thoughts on the tightness of USBank approvals?

I have both Club Carlson Personal and Business, but haven’t put a dime of spend on either one in ~1yr. If they’re anything like Barclays, this could be a problem.

I also, would have no problem shutting my CC Personal card if it helps to get approved for this card. Or offer to shut during Recon?

Thanks!

William Charles
armpeet
armpeet

Is the card churnable? I know it says not available to previous cardholders, but do they enforce it?

William Charles

Not sure, don’t think they’ve had this language on U.S. bank cards before.

armpeet
armpeet

I think I remember seeing this language during the last Winter Olympics promotion, however I did not apply back then.

zjts
zjts

This summer banking promo states “…. Cannot be combined with any other credit card offers except the “Easy as 1,2,3″ bonus offer, which is only available at any U.S. Bank branch…”

Any opinions on whether applying for the FlexPerks® Travel Rewards Visa through http://www.flexperks.com/credit/offer.do?redirect=visapromo&lang=en (the olympics offer) will negate the $50 summer banking bonus offer?

Any opinions on if the FlexPerks Business Edge™ Travel Card with the same olympics offer would qulaify for the $50 summer banking promo?

milesjjcc

Any advantage of applying US bank credit card in branch? I have checking & savings account with them. I have total 22 inquiries on Experian & last inquiry was on 6th July. Should stay away or pull the trigger?

William Charles

How many other cards do you have with them? Do they have spend on them? Applying in branch probably couldn’t hurt, not sure if it would help either.

Steve
Steve

I got pending approval for the business card. Should I call the reconsideration line? Please advise!

Ethan
Ethan

Is this a separate product from the Flex Perks Select Rewards?

William Charles

Yes, it’s a different product.

James Carson
James Carson

With many Russians kicked out of competition, this could be a bonanza.

William Charles

Chinese team probably stronger than ever though, don’t think we will see a huge shift in medals won.

Grant

Looks like I was wrong with my prediction. Glad to see US Bank is back with their Olympucs promotion. I’m going to wait until the last week of the olympucs and apply for the business FlexPerks card.

If anyone wants a Visa Signature FlexPerks referral, please email me at grant at travel with grant dot com. Go Team USA!

SHASHIDHAR BUYAKAR
SHASHIDHAR BUYAKAR

what do you get from a referral?

Gina Smith
Gina Smith

I don’t understand why you need to freeze Sagestream and Ars? If US Bank if the only one who uses this then why freeze it? I’ve never had any US bank checking or credit card before. Is it advised to freeze it if you are trying to get more US bank cards in a short time period? If I only plan on applying for this personal and business in one day do I need to freeze it? I’ve read https://www.doctorofcredit.com/two-credit-bureaus-you-should-freeze-before-you-apply-for-a-u-s-bank-credit-card/

William Charles

Other card issuers will report to ARS & Sagestream, but not use it in their own lending decisions.

Mat
Mat

Is this card worth if for someone who isnt near any us bank branches? and what does 20,000 points get me? If I opened this card, i would probably close it after cashing out my points. What are yall doing?

slomichael
slomichael

Four years ago, I had to buy 1000 miles for a total of 35,000, for two round trip economy tickets SFO to JFK.

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