If you’re considering applying for the US Bank FlexPerks Travel Rewards Visa Signature Card, then there are some things you should know about first. You need to develop a real understanding about the intricacies of any credit card you might be considering. Fight the impulse to act too fast, slow down just a bit and enjoy the read. Let’s start out by taking a close look at what it costs to own this rewards credit card.
Fees and APRs for the US Bank FlexPerks Travel Rewards Visa Signature Card
Thew fees schedule for the US Bank FlexPerks Travel Rewards Visa Signature Card is relatively common, like almost all credit cards. You see, the industry is set up to accommodate all types of consumers, having all different ranges of credit scores. If your credit history is exemplary, then you’ll be consistently flooded with offers from competitor card companies, trying to entice you to jump ship and acquire one of their cards. And sometimes, that’s OK – sometimes not though.
Likewise, if your credit history is questionable at best, and you apply for the US Bank FlexPerks Travel Rewards Visa Signature Card, and get approved, your APR is going to be set considerably higher than the person with the fantastic credit. It works for almost everybody, but even those with the best credit and lowest rates need to understand what’s really going on before accepting and activating the card.
Here are the APRs for the US Bank FlexPerks Travel Rewards Visa Signature Card:
- Purchase APR to be set between 13.99% and 13.99%, based on the history and score of your credit;
- Balance Transfer APR will be set the same as your purchase APR;
- Cash Advance APR: 23.99%;
Remember that you always have a grace period of between 24 and 30 days to make a minimum payment due and avoid any interest charges at all. If you are charged interest on any given statement, the charge will never be less than $2, regardless of what you may owe.
Fees for the US Bank FlexPerks Travel Rewards Visa Signature Card
The fees for the US Bank FlexPerks Travel Rewards Visa Signature Card are a little easier to stomach than the ones with many other cards. All credit cards generate obscene profits from transaction fees. In fact, if not for transaction fees, banks wouldn’t ever bother issuing and maintaining credit cards. Anyway, here are the fees:
- No annual fee for the first year. After that, there is a $49 annual fee.
- Balance transfers have an introductory rate of Richter 3% or 5 dollars, whichever is more. After the intro period, the transfer of balance fees go up to either 4% or 5 dollars.
- Convenience Check Cash Advance fee is either 3% or $5.
- Cash Advances and ATM Cash Advances cost either 4% or $10.
- Cash Equivalent Advances cost the greater of $20 or 4%.
- Foreign transactions are a fixed 2% of the amount in US dollars.
- Late payments and returned payments incur fees of $35 per incident.
Rewards schedule for the US Bank FlexPerks Travel Rewards Visa Signature Card
The US Bank FlexPerks Travel Rewards Visa Signature Card wants you to know that the FlexPoints you earn are able to be redeemed for travel, merchandise, gift cards and other enticements. Here’s how you earn:
- 1 FlexPoint for every dollar spent on net purchases;
- 2 FlexPoints for every dollar you spend in your selected category (between gasoline, air travel and groceries);
- 2 FlexPoints for each dollar spent on most cell phone services;
- 3 FlexPoints for every dollar spent donating to eligible charities;
You can redeem your rewards points on the US Bank FlexPerks Travel Rewards Visa Signature Card for air travel at more than 150 different airlines. There are no blackout dates to worry over. There are also no fees for online redemption of FlexPoints. You must accumulate at least 5000 FlexPoints to begin redeeming them. For a concrete example of their value, note that you could redeem 20,000 FlexPoints for a $400 airline ticket.
Automatic, included benefits of the US Bank FlexPerks Travel Rewards Visa Signature Card
You may have noted that the US Bank FlexPerks Travel Rewards Visa Signature Card is a Visa Signature credit card. That means at least a couple things right off the bat. First, it isn’t an easy credit card to get approved for. Second, if you do get approved, then you will be pleased when you take advantage of the following passive Visa Signature benefits:
- Concierge Services
- Luxury Hotel Collection
- Visa Signature Fine Wine & Food
- Visa Signature Travel Services
- Visa Signature Sports
- Visa Signature Entertainment
- Visa Signature Shopping Benefits
So let’s recap some here. The US Bank FlexPerks Travel Rewards Visa Signature Card offers attractive APRs on the low end, if you have the credit history to warrant them. The fees schedule is somewhat more relaxed than many others I research. For instance, almost every other credit card charges higher APRs for cash advances. And most other cards also charge at least 3% for foreign transactions. It’s these little differences that make this card appear better, on appear anyways.
In truth, unless you do some serious charging with your US Bank FlexPerks Travel Rewards Visa Signature Card, that 1% difference on foreign transaction fees is negligible, even though it is less. The Visa Signature benefits are nice, but then so are the benefits associated passively with any Platinum MasterCard. There are loads of choices to consider and you need to be diligent when deciding on what card seems to be the best fit for you and your lifestyle. The best thing to do is to read up yourself on the card’s website. Pay attention to the reviews of real cardholders and see what they think.
Overall, the US Bank FlexPerks Travel Rewards Visa Signature Card seems to be one of the better rewards credit cards out there. So unless you’re thinking about applying for an elite credit card, this one see,s like a very decent bet to shortlist.