FlexPerks 2018 Changes Confirmed
FlexPerks is a niche program, but one that many have found a lot of value in. Specifically, on redemptions of the right amount, you could get a value of up to 2 cents per point. Rumors have been circulating that U.S. Bank was looking to make some changes and apparently that is the case.
Here are the upcoming changes as posted on Reddit:
- Simplified Travel Redemption. Berginning December 31, 2017, the structure for redeeming FlexPoints will be simplified and all car rental, airline ticket and hotel redemptions will be redeemed at the rate of 1.5 cents per FlexPoint. For travel booked before December 31, 2017, the tiered FlexPoint rate schedules that are in place today will apply.
- Continuous FlexPerks Earning. Effective January 1, 2018, eligible Net Purchases during a calendar year that exceed $120,000 will continue to earn FlexPoints at a rate of one FlexPoint per $1 spent, an increase from the current rate of one FlexPoint per $2 spent.
- Updates to Charitable Donations. Effective Janurary 1, 2018, donations to over 1,000 enw Charitable organizations will be eligible to earn extra FlexPoints. At the same time, the earning rate for all eligible Charitable donations will be reduced from a total of 3X FlexPoints per $1 to 2X FlexPoints per $1.
This news is not all new (the charitable donations stuff had already been confirmed) and I think it doesn’t come as a huge surprise. While some will see this as a negative, I think it is actually a net positive for most people. I suspect the vast majority of customers weren’t able to maximize the value of their redemptions and thus will probably be doing as good or better than before. Under this new scheme everything is far simpler and customers know exactly what they are getting ahead of time.
What are your thoughts? Do you see this change as a net positive or negative for cardholders? Will you miss those glorious 2 cent per point redemptions? Share your thoughts in the comments!