U.S. Bank Flexperks Gold Card
From Travel Strategies
U.S. Bank Credit Cards
U.S. Bank Webpage
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Annual Fee
$85
Typical Signup Offer
30,000 FlexPoints
$2,000 initial spend
($350 net value, .17/$)
Signup Bonus ChartBonus Categories
3x Restaurants (4.5%)
2x Airfare (3%)
2x Gas (3%)
1x Everything Else (1.5%)
No Foreign Transaction Fee
The Flexperks Gold card earns the highest cash-based reward rate on restaurants of any credit card (4.5%). However, most people are better off with the one of several other cards that offer bonus rewards on restaurant spending.
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Collecting the Signup Bonus
FlexPoints
FlexPoints are worth 1.5 cents each for travel purchases made through the U.S. Bank travel portal. There are other redemption options, but they give you less value from your points.
- It is worth signing up for this card just to collect the signup bonus. The typical signup bonus is 30,000 points, with a value of 1.5 cents each. After subtracting the annual fee and the opportunity cost of using the card for $2,000 of spending, the calculated net value for the initial year is $350 (18 cents per dollar spent).
- It is possible to earn this bonus multiple times. U.S. bank has no technical limit on the number of times you can get the bonus. However, it can be hard to get them to approve you for an account. If you are interested in making the card part of your core credit collection (to take advantage of the restaurant bonus rewards) we wouldn't recommend cancelling it. But if you are just interested in the card for the signup bonus, you might as well cancel close to the end of your first year, wait a few months and then reapply.
Notable Benefits
- Boingo hotspot access. Free access to over a million Boingo hotspots around the world. Boingo website.
- $25 airline incidental credit (with every FlexPerks flight redemption). Every time you use your FlexPoints to book a round trip airline ticket, you get an additional $25 credit you can use for incidental expenses on that flight (like baggage fees or inflight food and beverage purchases). The credit is not automatic; you need to call in within 90 days of travel to apply the credit to any qualifying purchases.
- $100 TSA fee credit. Every five years, you can receive an automatic reimbursement of your Global Entry or TSA PreCheck application fee (up to $100).
Bonus Categories
- Along with the Sapphire Reserve, the Flexperks Gold card earns the highest "easy cash out" reward rate on restaurants. You'll earn 3x FlexPoints, worth 4.5 cents per dollar when used for airfare purchases. But most people will be better off with a card that provides 3x - 5x transferable points, the Wells Fargo combination, or the Altitude Go. Best Credit Cards for Restaurant Spending.
- There are better options for your airline and gas purchases. 2x FlexPoints are more valuable than what you would get from a good general-purpose reward card, but you can earn even more valuable rewards with other cards. Best Credit Cards for Travel Spending. Best Credit Cards for Gas Spending.
- You don't want to use this card for your everyday spending. You'll earn higher rewards from a good general-purpose reward card. Get a Great General Purpose Reward Card and Use It for All of Your Spending.
Getting Rid of the Card
- Make sure to cash out your rewards balance before you cancel your card.
- You can wait to cancel the card until after the annual fee shows up on your statement. As long as you cancel within 30 days of being charged the annual fee, U.S. Bank will refund it. We don't believe you can product change to any other card.
- You might be able to receive a retention offer to keep your card. It could be enough to make it worthwhile to keep the card.