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Verdict: The FlexPerks Cash Rewards Visa Card is one of several FlexPerks cards offered by U. S. Bank. As with all of them, its novelty over other credit cards with rewards programs is that it gives cash back rather than redemption points or airline miles. This allows the cardholder greater spending leeway. However, the fees on these cards are extremely high, so it’s kind of a toss-up as to whether or not you consider the cash back feature a good one or not.
Overview: The FlexPerks Cash Rewards Visa Card would be considered in the “classic” line of the FlexPerk cards. You still earn cash back, but you may miss out on other “perks” such as double points. However, there aren’t really that many differences between the “classic” FlexPerk cards and others in the FlexPerk family.
How This Card Works: Each time you make a purchase, any purchase, you earn at least 1% cash back on your total purchase amount. For a short period of time, you earn 3% cash back on gasoline (vehicle fuel) purchases, then it goes back to 1% cash back. Once you have reached $20 in cash back amount, you can start redeeming your cash back $5 at a time.
Travel and Shopping Benefits: Because you receive cash back, you’re not limited to the number of rewards points you can receive or how many you have to have before you can start the redemption process, as some cards require. In addition, if you patronize those merchants that are a part of the U. S. Bank shopping mall, you can earn cash back quicker.
Fees: This card has no annual fee; however, the other fees are extremely high. This is evident in the $10 or 4% fee for certain cash advances, and the $20 or 4% for other cash advances.
- Cash back rewards instead of rewards points or airline miles
- Can use cash rewards in $5 increments once you have earned $20 worth
- No annual limit in cash rewards, and they never expire
- High fees