So I got my card in the mail today and set up online banking. I noticed when I clicked on the rewards tab there is an option to transfer points. This message comes up:
Transfer Points
You can quickly and easily transfer your reward Points from this card to another rewards card issued by your financial institution. Follow these easy steps:
Enter account number to transfer to.
Enter the desired number of reward Points you would like to transfer.
Confirm and submit transfer.
Based on this message I think these points might be transferrable to other U.S. Bank cards (flex perks?). I don't have any other U.S. Bank cards so I can't experiment.