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New FlexPerks card Olympics bonus offer – $600+ possible?

by on Mon February 3, 2014 • No Comment

Flex Perks olympics


U.S. Bank and Visa are back with a re-run of a successful bonus offer for the FlexPerks® Travel Rewards Visa Signature® and FlexPerks Business Travel Rewards Visa cards.

There’s already a 20,000 point intro bonus that offers you up to $400 in travel rewards after you spend $3,500 within 4 months. But for the Olympics they are sweetening the deal.

You’ll get extra bonus points every time Team USA wins a medal at the 2014 Winter Olympic Games in Sochi.

  • 500 points for every Gold Medal
  • 250 points for every Silver Medal
  • 100 points for every Bronze Medal

You can track the official medal count at

FlexPerks Travel Rewards Card

U.S. Bank ran this promotion before, and to give you a sense of the possibilities, here are the medal counts for the last 3 Winter Olympics and what they would mean in points for for this promotion. Based on these a total bonus value of $500, or even  $600+ is possible if the U.S. beats its past totals when you combine the Olympic bonus with the 20,000 base intro offer.

Winter Olympics 2010

  • 9 Gold Medals – 4,500 points
  • 15 Silver Medals – 3,750 points
  • 13 Bronze Medals – 1,300 points

Total possible bonus: 20,000 intro + 9,550 Olympic points = 29,550, up to $591 in flight value.

Winter Olympics 2006

  • 9 Gold Medals – 4,500 points
  • 9 Silver Medals – 1,750 points
  • 7 Bronze Medals – 700 points

Total possible bonus: 20,000 intro + 6,950 Olympic points = 26,950, up to $539 in flight value.

Winter Olympics 2002

  • 10 Gold Medals – 5,000 points
  • 13 Silver Medals – 3,250 points
  • 11 Bronze Medals – 1,100 points

Total possible bonus: 20,000 intro + 9,350 Olympic points = 29,350, up to $587 in flight value

When should you apply?

The promo is valid if you make a purchase on a new card by March 31, 2014, and is open to new applications until March 7. The Olympics end on February 23, so you can actually wait and see how Team USA does before deciding to apply for the offer.

How do FlexPoints work?

You can redeem FlexPoints for flights as follows:

  • 20,000 points = up to $400 in flight value
  • 30,000 points = up to $600 in flight value
  • 40,000 points = up to $800 in flight value
  • 50,000 points = up to $1,000 in flight value

and so on…

Which means if you get flights that are exactly at those thresholds your points are worth 2 cents each. Buying 2 tickets in one purchase counts as a full flight, so you could for example buy 2 $300 tickets worth $600 total for 30,000 points.

You should avoid using your points for small redemptions like a $200 single flight, as in that case your points are only worth 1 cent each. The same goes for hotel and car rental redemptions where your points are all only worth 1 cent each.

You can book flights online at FlexPerks’ member website, which uses Travelocity to search for flights. That will give you most airlines as an option, but a big exception is Southwest, which is not bookable using FlexPerks as they don’t participate in outside travel reservation systems.

What are the other features?

The FlexPerks card is a decent choice for ‘set it and forget it’ card users who want good no hassle reward value. It ranks well in our CardFinder if you have a lot of gas, grocery, or airline spending. You also get a $25 credit for each reward flight you book that can be used for baggage fees.

  • Earn one FlexPoint for every $1 of eligible net purchases charged to your card
  • Earn two FlexPoints for every $1 spent on gas, grocery or airline purchases – whichever you spend most on each monthly billing cycle – and on most cell phone expenses
  • Earn Triple FlexPoints for your charitable donations
  • $0 Annual Fee the first year, after that $49
  • Earn 3,500 bonus FlexPoints each year when you spend $24,000 in Net Purchases. You can redeem these FlexPoints for your annual fee or combine them with other FlexPoints for travel

For big spenders, note there is a $120,000 cap on earning at the full rate. After that threshold you will earn one point for every $2 you spend unless you select Auto Pay for the first available payment date after your statement date.

Also, if your credit quality is not sufficient, U.S. Bank may approve you for a ‘Select’ version of the card that only earns at half the rate and doesn’t qualify for this bonus deal.


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Chase Sapphire Preferred® Card

Miles dont expireas long as card is open
Learn more

Partner Offer

50,000 bonus points

Intro Offer

$0 introductory annual fee, then $95

Annual Fee


Foreign Transaction Fee Waived


Points Can Transfer to Airline Miles ?

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