US Bank is the fifth largest bank in the US, but you don't hear too much about their offers. The FlexPerks Gold card is an interesting card that won't let you down, but we wouldn't necessarily consider it best in class either. With a 30,000 point welcome offer worth up-to $450 on flights, 3x points on restaurants, 2x points on airlines and gas, and 1x on everything else, this card makes for a decent travel companion. Additional perks like TSA Precheck reimbursement and no foreign transaction fee are also nice perks for a travel card. These perks come with a $85 annual fee though, which isn't waived for your first year of card membership.
There's not a lot of ground to cover here. The reward earning categories are fairly light:
Where things get tricky is point valuation. Points are worth 1.5 cents each when redeemed for travel, making your restaurant spend worth 4.5 cents in cash back, gas station and airline spend worth 3 cents in cash back, and all other purchases being worth 1.5 cents in cashback when redeemed for travel. These rates are in-line with what we see on the Chase Sapphire Reserve, but with a much lower annual fee. The Reserve boasts an annual fee of $450 for comparison.
You'll also be able to start your point bank off strong with a 30,000 points bonus after you make 2,000 in purchases in the first 3 months of account opening. That gives the bonus a value of $450 when redeemed for travel. This isn't quite as strong as some direct competitors like the Sapphire Preferred which offers a bonus worth $750 for a comparable annual fee.
Other redeeming qualities are the TSA reimbursement and a $25 airline allowance every time you book an award flight. The allowance can be used towards checked bags or in flight purchases.
This is a tricky question. This card might not actually be the best for anyone, except for maybe a very loyal US Bank customer. It's certainly not the worst when it comes to ongoing earning potential, but like we mentioned, the Sapphire Preferred has a stronger welcome offer, and a card like the Wells Fargo Propel card offers stronger rewards earning in most day-to-day categories.
If you are a road warrior and would make use of some luxury travel perks like complimentary first checked bags, expedited boarding, or airline lounges, this card probably isn't for you. You'd be better served by an airline credit card, or potentially the Sapphire Reserve.
For someone that is new to credit or still building credit, we'd recommend the Petal card. The cash back earning potential is substantially lower - earning up-to 1.5% cash back on all purchases, but sometimes you have to start from the bottom and build your self up a bit.
Lastly, if you're not going to redeem your rewards for travel, steer clear of this offer and go for something like the Uber card, which will allow you to maximize your cash back earning potential. Without the 50% multiplier for travel redemption, the FlexPerks Gold card is really nothing to brag about.
If you're a loyal US Bank customer and travel enough times a year to redeem your points for travel awards, FlexPerks Gold can give you some good value. If you fall outside of that pretty narrow scope, you'll do better elsewhere.