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Good morning everyone. After a busy morning of paying credit card bills, I spotted a few changes to the terms on my US Bank FlexPerks Visa Signature Credit Card and US Bank FlexPerks AMEX Credit Card. The changes to the terms are identical for both credit cards.
On March 1, 2016, US Bank is going to change the 2x bonus category from “grocery” to “grocery stores.” I’m not sure if this is going to be a big deal, but I assume this change will reduce the number of merchants that qualify as “grocery” (aka Target and other merchants).
On February 15, 2016, the minimum amount of FlexPoints you can purchase will change from 2,000 FlexPoints to 3,000 FlexPoints. I dug around on US Bank’s website and found the current US Bank FlexPerks Program Rules and this is what it says:
You can purchase additional FlexPoints to use for redeeming for rewards. Each FlexPoint is priced at $.03, a minimum number of 2,000 FlexPoints per purchase is required and FlexPoints must be purchased in increments of 1,000. The maximum number of FlexPoints you may purchase in a calendar year is 60,000. Purchased FlexPoints are available immediately. You do not earn additional FlexPoints for purchasing FlexPoints. All FlexPoint purchase transactions are final and FlexPoints cannot be returned.
Currently, 2,000 FlexPoints will cost you $60 (2,000 FlexPoints x $0.03), so the new purchase minimum will cost you $90 (3,000 FlexPoints x $0.03). Raising the minimum purchase amount is not good for consumers and FlexPoints will never be worth more than 2 cents, so paying 3 cents a point is a terrible deal. But don’t worry, you can always transfer FlexPoints… wait a second…
On February 15, 2016, the maximum number of FlexPoints you can transfer in a calendar year is changing from 120,000 FlexPoints to 20,000 FlexPoints. I dug around on US Bank’s website and found the current US Bank FlexPerks Program Rules and this is what it says:
The amount of FlexPoints that you may transfer is limited to 120,000 FlexPoints in a calendar year. The amount of FlexPoints that you may accept as a transfer into your Account is limited to 120,000 FlexPoints in a calendar year. All transfers are final. You may not cancel a transfer request; you may only (if available) initiate a new transfer request back to the original account in order to reverse a transfer request.
This would imply that you will be able to transfer up to 20,000 FlexPoints and receive up to 20,000 FlexPoints per calendar year after the changes go into affect on February 15, 2016. I personally have never transferred/received FlexPoints to/from another person, but this lower limit is not good. US Bank must want to crack down on people buying and selling FlexPoints or booking travel for other people. Does anyone have any other conspiracy theories?
If you have any questions, please leave a comment below. Have a great day everyone!