US Bank Devalues FlexPerks Rewards
US Bank FlexPerks Rewards can be used for travel purchases for a value of 1.5 cents each through Real-time Rewards. But now, US Bank seems to have devalued FlexPerks Rewards without any notice.
There’s several reports on FlyerTalk that you now get a value of just 1 cent per points when redeeming FlexPerks for travel. The change likely went into effect at the beginning of March.
“A Delta purchase for $417.60 cost 41,760. I spoke to US Bank and was told that as of March 1, the rate for all Real-Time Rewards redemptions will be 1c per point” writes one member. And he was also told that letters will probably be sent out.
The change could be due to the FlexPerks cards being discontinued, and two new Altitude cards coming soon, as reported by Doctor of Credit. Redemptions for Altitude Reserve cardholders are not affected by this devaluation, so they can still continue redeeming points at 1.5 cents each.
A sneaky way to make changes to a program. People collect points thinking they can use them at a certain value and then find out that their points have been devalued without any notice.