U.S. Bank FlexPerks® Gold American Express® Card Review

In the vast universe of credit cards, each card offers a unique set of benefits and drawbacks. The U.S. Bank FlexPerks® Gold American Express® Card is no exception. With a plethora of rewards and an attractive bonus point scheme, this card is designed to cater to a wide range of consumers. However, the card’s annual fee and variable APR could be potential deal breakers for some. This thorough review aims to shed light on the card’s features, benefits, and potential shortcomings, helping you make an informed decision.

U.S. Bank FlexPerks® Gold American Express® Card Key Takeaways

Before diving into the minutiae of this card, let’s highlight some of the key takeaways:
– Rewards Structure: Earn 5x FlexPoints on prepaid hotels and car rentals, 3x FlexPoints on dining, takeout, and restaurant delivery, 2x FlexPoints at airlines, gas stations, and EV charging stations, and 1x FlexPoint on everyday spend.
– Sign-Up Bonus: Earn 30,000 Bonus FlexPoints worth $450 on airfare, hotel stays, car rentals, and more by spending $2,000 in eligible purchases within the first four months.
– Annual Fee: $85 annually.
– APR: Variable APR ranging from 19.74% to 29.74%.
– Credit Score Requirement: Good to Excellent (670-799).
– Additional Perks: TSA PreCheck® or Global Entry® fee reimbursement, no foreign transaction fees, and various travel-related benefits.

U.S. Bank FlexPerks® Gold American Express® Card Pros and Cons

Pros:

– High Reward Rates: The card offers an impressive rewards structure that benefits frequent travelers and diners.
– Generous Sign-Up Bonus: The 30,000 Bonus FlexPoints can significantly offset travel expenses.
– Travel Perks: TSA PreCheck® or Global Entry® fee reimbursement is a valuable perk for international travelers.
– No Foreign Transaction Fees: A considerable advantage for those who travel abroad frequently.
– Flexible Rewards: FlexPoints can be redeemed for a variety of rewards, including travel, merchandise, and statement credits.

Cons:

– Annual Fee: The $85 annual fee might deter some potential users, especially those who don’t maximize the card’s rewards.
– High Variable APR: The APR range of 19.74% to 29.74% can be steep, particularly for those who carry a balance.
– No Intro APR Period: Unlike some competitor cards, this card does not offer an introductory APR period for purchases or balance transfers.
– Limited Flexibility on Non-Travel Rewards: While travel rewards are generous, other redemption options may not offer as much value.

U.S. Bank FlexPerks® Gold American Express® Card Benefits

Rewards Program

The U.S. Bank FlexPerks® Gold American Express® Card’s rewards program is one of its most enticing features. Here’s a deeper dive into the rewards structure:
– 5x FlexPoints on Prepaid Hotels and Car Rentals: This is an excellent rate for those who frequently book travel in advance. It provides a high return on spending, making it easier to accumulate points quickly.
– 3x FlexPoints on Dining, Takeout, and Restaurant Delivery: Dining out and ordering in are common expenses, and earning triple points in these categories can add up fast.
– 2x FlexPoints at Airlines, Gas Stations, and EV Charging Stations: Travel-related expenses and everyday commuting costs earn double points, which is advantageous for frequent flyers and drivers.
– 1x FlexPoint on Everyday Spend: All other purchases earn one FlexPoint per dollar spent, ensuring that every transaction contributes to your rewards balance.

Sign-Up Bonus

The sign-up bonus is a major highlight of this card. By spending $2,000 in eligible purchases within the first four months of account opening, cardholders can earn 30,000 Bonus FlexPoints. These points are worth approximately $450 when redeemed for airfare, hotel stays, car rentals, and more. This bonus can significantly offset travel expenses and offers a substantial incentive for new cardholders.

Travel Perks

For frequent travelers, the U.S. Bank FlexPerks® Gold American Express® Card offers several valuable travel perks:
– TSA PreCheck® or Global Entry® Fee Reimbursement: Cardholders can receive an automatic statement credit reimbursement for the application fee for either TSA PreCheck® or Global Entry®. This perk can save travelers up to $100 and streamline the security process at airports.
– No Foreign Transaction Fees: This benefit is crucial for international travelers, as it eliminates the extra cost associated with currency conversion fees.

Flexible Redemption Options

FlexPoints can be redeemed in various ways, providing flexibility to cardholders. Popular redemption options include:
– Travel: Points can be used to book airfare, hotel stays, and car rentals.
– Merchandise: Points can be redeemed for a wide range of products.
– Statement Credits: Cardholders can apply points towards their credit card balance.
– Gift Cards: Points can be exchanged for gift cards from popular retailers.

Additional Benefits

Other notable benefits of the U.S. Bank FlexPerks® Gold American Express® Card include:
– Payment Flexibility: Cardholders can manage their accounts and make payments online or through customer service.
– Customer Support: U.S. Bank provides robust customer service support for cardholders.
– Security Features: The card comes with advanced security features to protect against fraud.

Conclusion

The U.S. Bank FlexPerks® Gold American Express® Card offers a compelling array of benefits, particularly for those who travel frequently and dine out often. The card’s rewards rates are competitive, and the sign-up bonus provides a substantial value for new cardholders. Additionally, travel perks like TSA PreCheck® or Global Entry® fee reimbursement and no foreign transaction fees enhance the card’s appeal for international travelers.
However, the card’s $85 annual fee and high variable APR may be deterrents for some potential users. Those who do not travel frequently or spend heavily in the card’s bonus categories may find it challenging to justify the annual fee. Additionally, the lack of an introductory APR period may be a drawback for individuals seeking to finance large purchases over time.
Overall, the U.S. Bank FlexPerks® Gold American Express® Card is a strong contender for those who can maximize its rewards and benefits. As always, it’s essential to evaluate your spending habits and financial goals to determine if this card aligns with your needs.