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Overview of the US Bank Flex Perks Gold Credit Card
Application link:
Key features
- Welcome bonus:30k Flex Perks points (after spending $2,000 in the first 4 months)
- Earning rates: 3x on dining; 2x on gas and airfare; 1x on all other purchases
- Point redemption: 1.5c/p toward airfare, hotels, and car rentals; 1c/p for statement credit
- No foreign transaction fee
- $85 annual fee
Highlights
- Real Time Rewards: Through Real-Time Mobile Rewards (RTMR), you can redeem points for airfare, hotel, and car rental purchases at a value of 1.5 cents per point. After RTMR is activated, each time you make a purchase in an eligible category, you will receive a text message asking whether you want to use points to offset that purchase. Redeeming points for these categories currently gives you 1.5 cents per point in value; other categories redeem at 1 cent per point.
- Extra benefits through the Rewards Center: If you book airfare, hotels, or car rentals through the US Bank Rewards Center and redeem points, each point is worth 1.5 cents, which is better than redeeming for statement credit directly. In addition, if you redeem points for a round-trip ticket and use more than 10,000 points, you can also get up to $25 reimbursed for incidental airline fees on that ticket's itinerary, such as baggage fees, in-flight snacks, or airport lounge charges. However, you must call 866-311-5550 within 90 days after the charge posts to request reimbursement. Note that you must redeem through the Rewards Center or by phone to receive the $25 reimbursement; RTMR redemptions do not qualify.
- FlexPerks Rewards Center 5x: 5x on hotel or car rental bookings made through the FlexPerks Rewards Center (effective in Q1 2020)
- Global Entry and TSA Pre reimbursement: These two benefits are very useful for frequent flyers and can greatly reduce security wait times. However, they are available only to U.S. citizens. The application fees are $85 and $100.
- Boingo membership: Complimentary Boingo membership for free Wi-Fi at airports
Drawback
- The fee for booking award airfare by phone increased from $35 to $39 (effective November 1, 2019)
My take
This card is very similar to the FlexPerks Travel, with only slightly different bonus categories. Dining works out to an effective 4.5% return, which is quite strong. The $85 annual fee is a bit on the high side, but if you can make use of the Boingo membership, it can help offset some of that cost.
Application
- Approval difficulty: US Bank is fairly sensitive to hard pulls and new accounts. If you already have a checking or savings account with them, approval is generally easier.
- Application status: Official application status check link
- Things to note: Before applying, it is best to freeze your reports with the two less commonly used bureaus, ID Analytics and Advanced Resolution Services. See this article. It may help improve your chances of approval for a US Bank credit card, and there is no obvious downside.