Apply for a new U.S. Bank FlexPerks Travel Rewards Visa Card between 8/1/2016 and 9/3/2016, then, upon approval, make a purchase with your new card by 9/30/2016 – and you could earn Bonus FlexPoints for every medal Team USA wins at the Rio 2016 Olympic Games. To earn the 20,000 Enrollment Bonus FlexPoints you’ll get when you spend $2,000 within the first four months of account opening.

This offer is available for the FlexPerks Travel Rewards Visa Signature Card and the FlexPerks Business Edge Travel Rewards Visa Card.

Medal Bonus

You’re probably wondering what medal bonuses would net you. You will receive 200 FlexPoints per Gold Medal, 100 FlexPoints per Silver Medal and 50 FlexPoints per Bronze Medal.

US Bank provides the calculations on what you would have earned during the London Olympics in 2012. During those Games, USA won 46 Gold Medals (9,200 Bonus FlexPoints), 29 Silver Medals (2,900 Bonus FlexPoints) and 29 Bronze Medals (1,450 Bonus FlexPoints). That would have given you a total of 13,550 Bonus FlexPoints during the London 2012 Olympic Games. And USA always wins a lot of medals so you would expect something in that ballpark this time around as well.

FlexPerks Travel Rewards Visa Signature Card

• One FlexPoint per $1 spent on all eligible net purchases
• Double FlexPoints on the category you spend the most on (at gas stations, grocery stores or airlines) and at most cell phone service providers during each billing cycle
• Triple FlexPoints on qualifying charitable donations
• $49 Annual Fee (waived first year)

FlexPerks Business Edge Travel Rewards Visa Card

• Earn One FlexPoint for every $1 of eligible net purchases charged to your Card
• Earn Double FlexPoints for every net $1 spent at gas stations, office supply stores or airlines – whichever you spend most on each monthly billing cycle – and at most cell phone service providers.
• Earn Triple FlexPoints for your charitable donations
• $25 Airline Allowance offers reimbursement for up to $25 per air travel award ticket toward baggage fees or in-flight food and drinks
• No Foreign Transaction Fees
• $55 Annual Fee (reimbursed with $24,000 or more in net purchases within your 12-month annual statement year)

Redeeming FlexPoints

When redeeming FlexPoints the best value will be with airline award tickets. It’s mentioned in the bonus page that you can get a value of up to 2 cents per FlexPoint, but that is not guaranteed. The way FlexPoints work is that you have to redeem at least 20,000 points in 10,000. While you do get 2 cents per point, FlexPoints are redeemed in blocks, so with 20,000 FlexPoints you can buy tickets valued up to $400, with 30,000 FlexPoints you can buy tickets valued up to $600 and so on. So a $250 ticket and a $400 ticket will cost you the same, 20,000 FlexPoints. Also you can not combine the price of two tickets, you have to redeem FlexPoints separately for each ticket.

You can also redeem at 1.5 cents per FlexPoint for hotels, car rentals & cruises. (Read more here)

If you do not have any travel plans, you can always redeem FlexPoints for 1 cent each for statement credit or 1.4 cents per point towards the annual fee.

Olympic Promo Terms

Offer valid to new U.S. Bank FlexPerks Travel Rewards Visa Signature and U.S. Bank FlexPerks® Business EdgeTM Travel Rewards Visa Card applicants who apply at any participating U.S. Bank branch location, call 24-hour banking or apply online at flexperks.com/visapromo between August 1, 2016, and September 3, 2016. Applicants must be approved for either the FlexPerks Travel Rewards Visa Signature or FlexPerks Business Edge Travel Rewards card and make a minimum of one net purchase to the Account Owner’s individual account by September 30, 2016, to receive the Visa Rio Bonus FlexPoints. The awarded amount of bonus FlexPoints will be based upon the results of the Rio 2016 Olympic Games. For every event at The Olympics in which the United States Olympic Team wins a medal, Bonus FlexPoints will be awarded as follows: Gold = 200 Bonus FlexPoints, Silver = 100 Bonus FlexPoints, Bronze = 50 Bonus FlexPoints. The official medal count is available at www.teamusa.org. The Visa Rio Bonus FlexPoints are in addition to the one-time enrollment bonus FlexPoints offer and are not contingent on meeting a spend threshold. Please allow 6-8 weeks after the promotion ends on September 30, 2016, for the Visa Rio Bonus FlexPoints to be credited to your FlexPoints account. Account must be open and in good standing in order to receive the Visa Rio Bonus FlexPoints. For any reason, if any part of the Rio 2016 Olympic Games are unable to take place as planned, medal bonus FlexPoints will only be awarded for the events that do take place as planned. Or, if for any reason, the Rio 2016 Olympic Games are canceled in its entirety, no bonus FlexPoints will be awarded.

HT: DoC