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It’s rare that a good credit card sign-up bonus takes four years to return, but such is the case with the US Bank FlexPerks Travel Rewards Visa. They have just brought back their sign-up bonus promo where the number of bonus points is tied to the number of medals the US wins at the 2016 Rio Olympic Games! They did this two years ago as well at the 2014 Winter Olympics, but the US doesn’t typically win as many medals in the winter games as the summer so the bonus was not as high as it was with the 2012 Summer Olympics where this promo brought the bonus from the standard 20,000 point level up to 33,150 total points!
This time around they are offering the standard bonus of 20,000 points after you spend $2,000 in the first four months, but adding 200 points for each US Gold, 100 points for each US Silver, and 50 points for each US Bronze medal won at the 2016 Olympics. The card has a $0 introductory annual fee for the first 12 months and then $49 each year (or 3,500 points).
So far we have 3 Gold, 5 Silver, and 4 Bronze medals with lots of Olympics left to go. That tacks on a guaranteed 1,300 bonus points to the 20,000 standard amount. Apparently the US has been predicted to win 45 Gold, 34 Silver and 39 Bronze medals, which would add on 14,350 points if it pans out! That would make the total sign-up bonus 34,350 points that are worth up to $687 towards travel.
I got the US Bank FlexPerks card during the 2012 Olympics promo, and have some experience redeeming the points for flights at a maximum value. The redemption process is a bit nuanced, so I recommend you read the linked post above before deciding if this is the card for you even with the increased bonus. In short you get up to 2 cents in value per point towards airfare depending on whether the airfare you are purchasing is close to one of the thresholds, with the lowest being 20,000 points for up to $400 in airfare. However, if you purchased airfare that costs $401 you would be spending 30,000 points instead of 20,000 and thus not getting as much value for your points.
If you get the card note that it earns 3x on charitable donations, 2x at gas stations, grocery stores or airlines (whichever you spend most at that billing cycle) + cell phone charges, and 1x elsewhere. The increased bonus is available from 8/1/2016 – 9/3/2016, if you make a purchase with the new card by 9/30/2016. The Olympics end on August 22, 2016, so you can see the total medal count before applying if you wish. Also, if you are in the market for a small business card, the FlexPerks Business Edge Travel Rewards card is also eligible for this promo.
Go Team USA!
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.