I had the most awesome redemption yesterday. I booked a one way IST-DXB flight on Emirates that was going for $399.4 :)

At times like these I feel pretty happy about this card. I will continue to maximize thsi program

:-) Nice redemption!

Pay no foreign transaction fees starting 9/1/14
 

Per the brochure I got in the mail today:

"Pay in euros, pesos or pounds with no added fees.
Starting September 1, when you use your Flexperks Travel Rewards Visa Signature card for purchases in non-U.S. currencies, you pay no foreign transaction fees. And with the improved overseas acceptance you get with our chip technology, you'll only need one travel card.3. Learn more at flexperkspromos.usbank.com."

"3. Foreign Transaction Fees.. No fees will be charged for foreign transactions occurring on or after September 1, 2014."

Great news! I have never used this card outside the US due to the forex fees but now I'll reconsider.

Yeah, I think this is huge for this card. Foreign exchange fees were the one thing keeping me from using it overseas. If only they'd done this a couple of months ago when I started buying European rail tickets for an October trip.

Perfect redemption! ^

+1. It's one of those all-too-infrequent examples of banks COMPETING rather than colluding (i.e. one raises fees, the rest follow).

Of course, the whole invention and imposition of the "conversion fees" a few years ago was really a collusion example (invent a fee with little or no cost basis, see if others match). Capital One was the real hero in not going along, as were some credit unions and smaller operators that had either 0% or 1% (the 1% more than enough to cover the occasional volatility whipsaws).

U.S. Bank obviously figured out they're losing lots of business as savvy frequent travelers resist the fees. It's also notable that both U.S. Bank and CapOne are POINTS-BASED, which can be positive because the award tickets count as paid tickets, earn miles, get status perks, etc. That model is also open for competition, whereas banks partnering exclusively with airlines works against that on the miles-based side.

^^^ This might deserve a standalone thread in a more prominent forum just to alert people that a second major issuer has dropped the conversion fees.

while dropping forex fees is good news for this card, I'm still not going to use this card abroad. I use this card exclusively at grocery stores and I don't really go to grocery stores when abroad. You can use the gas station or airlines category, assuming you remember not to spend much in other bonus categories.

In the best case this is a 2% everywhere and 4% bonus card. For non bonused spend, I prefer the arrival for 2.2% as arrival points far easier to redeem. I think the higher AF is worth it ($89 vs $49).

I think capone venture is 2% everywhere with $59 fee? That is also much better than flexperks.

In short, flexperks cards are only worthwhile for bonus categories and even in those you have good options to this card

And charitable donations too. Remember the 3x points is about 6%. 6% cash back + uncle Sam's deductions is a pretty sweet deal.

do your points expire when cancel the card? brochure says they are good for 5 yrs

I'm using all my remaining points prior to canceling, just to be safe.

I would expect they would, if you cancel. However, I think there's still a no-annual-fee version of the card available (which earns points only half as fast). That's the one I've had for years. If you can convert to the no-AF FlexPerks card, that would seem to be the way to keep the points (up to 5 years from when you earn them) while not continuing to pay the annual fee. Just make sure you're done earning via spending before you convert (because of the poorer earning rate on the no-AF card).

received a mailing advertising no foreign transaction fees and almost missed the promo on the same mailing (noticed it just as i was about to shred it :) ).

register at flexperkspromos.usbank.com

from the registered promo tab:

"This fall, get 3,500 bonus FlexPoints for using your FlexPerks® Visa® card.

Fall is the perfect time for quick family getaways. It's also a great time to quickly accumulate FlexPoints. When you spend $1500 with your FlexPerks Travel Rewards Visa Signature from September 1–October 31, 2014, you'll earn 3,500 bonus FlexPoints. Then use your earnings to redeem rewards from our wide selection of electronics, fashion, sports gear, gift cards and more."

i registered a family member's card and they had earn 3500 pts with $750 in purchases!

Must be targeted. I have no such offer.

I received this offer too, I thought it may due to my annual fee due soon.