This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.

Earlier this month US Bank announced a promotion in honor of the 2014 Winter Olympics in Sochi new applicants  for the FlexPerks Travel Rewards Visa who apply between January 31, 2014 – March 7, 2014 and make eligible purchases ($3,500 in 4 months) will earn not only the 20,000 regular bonus points for signing up, but the following bonus points based on how many medals Team USA won – 500 per Gold, 250 per Silver and 100 per Bronze.

Olympic

Well, the 2014 Winter Olympics are over and the tallies are in. The US Olympics team won 28 medals: 9 gold, 7 silver, and 12 bronze medals. So that’s 7,450 extra points.

9 gold medals x 500 points = 4,500 points for gold medals
7 silver medals x 250 points = 1,750 points for silver medals
12 bronze medals x 100 points = 1,200 points for bronze medals

So that means new cardholders who sign up through the promo link will earn a total of at least 30,950 points if they make the $3,500 in eligible purchases to score the full bonus. FlexPerks are kind of like a hybrid fixed-value and variable points program where each point is worth between 1.33-2 cents apiece depending on how much the ticket you redeem them for is worth, so the sign-up bonus with the Olympics promo and the minimum spending is worth just about $600.

You can use FlexPoints to redeem for any available airfare at any time with no blackout dates, but it’s on a sliding scale. Remember, you also earn elite qualifying miles as well as redeemable miles when redeeming FlexPoints since it’s just like paying for an airline ticket.

You also get an extra $25 in value on award tickets in the form of an airline allowance for expenses like checked bags, food/drink and entertainment. You can also redeem points for hotels and car rental gift cards at a rate of 1 point per cent in 5,000-point increments for which you get gift certificates to use at chains like Hyatt, Marriott, Ritz-Carlton, Avis, Budget, Hertz, Carnival Cruise Lines and Royal Caribbean. Points are also redeemable for merchandise or cash back statement credits at 1 cent per point in increments of 5,000 points.

As a reminder, here are the other features of the card:

  • Award travel starts at just 20,000 FlexPoints (up to a $400 ticket value) on over 150 airlines with no blackout dates or redemption fees
  • Earn one FlexPoint for every $1 of eligible net purchases charged to your card
  • Earn two FlexPoints for every $1 spent on gas, grocery or airline purchases – whichever you spend most on each monthly billing cycle – and on most cell phone expenses
  • Earn Triple FlexPoints for your charitable donations
  • $0 Annual Fee the first year, after that $49

These cards also make a lot of sense for people who spend a lot of money in charitable donations as well as gas, groceries or airfare thanks to the bonus spending categories.

olympic_header

If you’re looking for a solid fixed-value travel points credit card, I’d still suggest the Barclaycard Arrival, which currently carries a bonus of 40,000 miles when you spend $3,000 in 3 months, since the card earns 2x miles per $1 on all purchases and when you redeem for travel (not just airline tickets) you get 1 cent per mile in value plus a 10% mileage refund that all equates to 2.27% back on every dollar you spend, if you already have that or the Capital One Venture, which gives two points per dollar on all purchases, the points are worth 1 cent apiece for 2% return on your spending, then the FlexPerks Visa is a solid choice, especially since the bonus is higher than usual thanks to America’s Olympic medals.

Chase Sapphire Preferred Card

With great transfer partners like United and Hyatt, 2x points on travel & dining and a 50,000 point sign up bonus, the Chase Sapphire Preferred is a great card for those looking to get into the points and miles game.

Apply Now
More Things to Know
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
Intro APR on Purchases
N/A
Regular APR
16.49% - 23.49% Variable
Annual Fee
Introductory Annual Fee of $0 the first year, then $95
Balance Transfer Fee
5.00%
Recommended Credit
Excellent Credit

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.