Right now you can get somewhere between 1.3 and 2 cents per point in value for your US Bank Flexperks points. That’s because they have an award chart which lists a certain number of points based on the cost of a ticket.
This is the model that Delta had in mind for revenue-based redemptions when they chickened out and simply kept reward chart-based pricing while hiding their reward charts. (Customers, they found, reacted poorly to true revenue-based redemption. It’s ‘simpler’ but eliminates the possibility of getting outsized value for miles.)
Beginning Dec. 31, it will be easier to understand redemption of FlexPoints. Each FlexPoint will be valued at at 1.5 cents when redeeming for car rentals, airline tickets, hotel rooms and travel packages. Redemptions made prior to Dec. 31 will continue to use the current tiered rate schedule.
Most air redemptions — even if you don’t maximize value by redeeming at the upper end of a redemption tier — will get you 1.6 cents apiece or more for your points. So fixed value 1.5 cents a point redemptions are a devaluation.