As it has been announced months ago, Flexperks Travel Rewards program will undergo some major changes. One of those changes, and probably the most important, is the maximum value that you can get for FlexPoints. The date of the devaluation is here now, 12/31/17 so today is your last chance to use up your points at a value of close to 2 cents each.
Value Of FlexPoints
Currently FlexPoints can range in value from 1 to 2 cents per point, and redemptions are made in tiers. You can use:
- 20,000 FlexPoints for tickets that cost up to $400
- 30,000 FlexPoints for tickets that cost $400.01 to $600
- 40,000 FlexPoints for tickets that cost $600.01 to $800
- and so on for every +10,000 FlexPoints
So if you purchase a ticket that costs up to $400, you would need 20,000 FlexPoints. Then the next tier is at 30,000 FlexPoints which can be used for tickets up to $600. To get a maximum value for your points you would need to buy tickets that cost exactly $400, $600, $800 and so on, or just a bit less. Whether your tickets cost $401 or $599, you would still need to use 30,000 FlexPoints, hence the value between 1 cent and 2 cents.
Starting 12/31/2017 the value of FlexPoints will change to a fixed 1.5 cents per point, just like the US Bank Altitude Reserve points. Tiers will also be gone, which is a positive change. So you can redeem any points that you have at 1.5 cents each.
How To Cash Out FlexPoints Before Devaluation
Hopefully you have already used up your FlexPoints already at a value of close to 2 cents each. But if you have yet to do so, there’s still hope and you can do this today. This is easy to do if you have any travel plans and you can find tickets that will give you maximum value. But if there’s no concrete travel plans that you can do it by booking a refundable ticket with FlexPoints and then canceling it. Here’s the three options that you have:
- Book a flight on Alaska Airline on US Bank FlexPerks account
- Call (888-229-8864) to book a Southwest flight with FlexPoints
- Book a flight on JetBlue on US Bank FlexPerks account (Mosaic only)
Book a refundable ticket that’s a few months out, wait at least 2-3 days and then go to the airline’s website, find your reservation and cancel it. Don’t cancel right away, because the refund will be in FlexPoints, which defeats the purpose. Cancellations are free for Alaska and Southwest, while for JetBlue you need to have Mosaic status.
The refunded credit will be valid for 12 months only, so keep that in mind if you go this route.
Do this today to get a maximum value of 2 cents each for your FlexPoints, but just keep in mind that you’ll have 12 months to use up the refunded credit. If you don’t have any plans of flying in the next 12 months, then it’s better to just keep your FlexPoints. You can use then when needed for 1.5 cents each, instead of trying to get max value and end up losing them completely.