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.

U.S. Bank is planning on rolling out some big changes to its FlexPerks Rewards program. According to a tip from TPG reader Richard S., starting January 1, 2018 FlexPoints will be redeemable towards travel at a fixed value of 1.5 cents per point, and U.S. Bank will be getting rid of the current tiered redemption system. FlexPoints can be earned through cards like the U.S. Bank FlexPerks Visa Signature.

Now this isn’t all bad news, as FlexPoints currently can range in value from 1 to 2 cents per point — and it can be tough to redeem FlexPoints for 2 cents apiece since rewards are redeemed through tiers. For example, if you wanted to buy an airplane ticket up to $400, it would cost 20,000 FlexPoints. So if your ticket was $399, you’d be getting a great value of 2 cents per point. However if you were redeeming points for a ticket worth $401, you’d be kicked up to the next tier and would have to shell out 30,000 points, which would only value your FlexPoints at 1.34 cents per point.

Screen Shot 2017-07-05 at 12.52.30 PM

The new program will have a fixed value of 1.5 cents per point when redeeming towards car rentals, airline tickets and hotels, making FlexPoints much simpler to use. The current tiered rates will still apply for travel booked before December 31, 2017.

Earning Flexperks will also become easier for those who spend more than $120,000 in a calendar year — purchases will now earn one FlexPoint per $1 spent, an increase from the current rate of one FlexPoint per $2 spent. Charitable donations will will only earn 2x FlexPoints per $1, down from 3x points per $1.

The change to FlexPoints comes shortly after the launch of the U.S. Bank Altitude Reserve Visa Infinite Card, a premium travel card that competes with the Chase Sapphire Reserve and the American Express Platinum Card. The Altitude Reserve’s points are also worth 1.5 cents per point, making FlexPoints on par with U.S. Bank’s new card. Given the identical value, it’s likely that it’ll become possible to transfer points between the cards in 2018.

Featured image courtesy of Getty Images.

The Business Platinum® Card from American Express OPEN

LIMITED TIME OFFER. Aside from the 100,000 points welcome bonus (available until 8/8/18), Amex recently made huge improvements to the Business Platinum Card, including the fact that you will now earn 50% more points on purchases of $5,000 or more, earn 5x on flights and eligible hotels at Amextravel.com and cardholders will receive a $200 airline fee credit each year.

Apply Now
More Things to Know
  • Limited Time Offer: Earn up to 100,000 Membership Rewards® Points.
  • Earn 50,000 Membership Rewards® points after you spend $10,000 & an extra 50,000 points after you spend an additional $15,000 all on qualifying purchases within your first 3 months of Card Membership. Offer ends 8/8/18.†
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
  • Get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
  • 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year.
  • You can also receive 35% points back on all First and Business class flights, with all airlines available through American Express Travel.
  • You can enjoy access to The American Express Global Lounge Collection℠ offering access to the most lounges across the globe, when compared with other U.S. credit card offerings. As of 11/2017
  • Terms Apply
  • See Rates & Fees
Intro APR on Purchases
N/A
Regular APR
N/A
Annual Fee
$450
Balance Transfer Fee
See Terms
Recommended Credit
Excellent Credit
Terms and restrictions apply. See rates & fees.

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.