MINNEAPOLIS & SAN MATEO, Calif.--(BUSINESS WIRE)--U.S. Bank, lead bank of U.S. Bancorp (NYSE: USB), has partnered with Plastic Jungle, the web's largest secured gift card exchange, to enable FlexPerks Travel Rewards Visa Signature cardholders to easily and safely exchange select merchants' gift cards for highly valued FlexPoints, reward points that can be redeemed for travel, merchandise and more. Together, U.S. Bank and Plastic Jungle have pioneered this innovative concept of offering credit card rewards in exchange for gift cards.
“We’re continually seeking innovative ways for our FlexPerks cardholders to earn FlexPoints and offering a simple, safe and quick exchange of unredeemed gift cards for valuable FlexPoints is certainly an inventive approach,” said Cliff Cook, chief marketing officer for U.S. Bank Retail Payment Solutions. “With the holidays over and spring break time here, the gift card exchange is timely for cardholders looking to accumulate some extra FlexPoints for travel.”
Starting today, FlexPerks Travel Rewards cardholders can visit the FlexPerks Visa Promotion Center to exchange their gift cards for FlexPoints. Cardholders simply enter the details of the card, such as the merchant, gift card number and card value. Plastic Jungle determines the value of the cardholder’s gift card, which then is translated into a FlexPoints value. Cardholders who like their offers simply click "Accept", and the FlexPoints are added to their accounts within two business days.
“Gift cards are the number one most requested and gifted present in the United States, but at times that gift card just isn’t the right fit,” said Bruce Bower, chief executive officer of Plastic Jungle. “Our new partnership with U.S. Bank allows us to give consumers one more way to unlock this value. Plastic Jungle is looking forward to powering this new solution for FlexPerks cardholders.”
Plastic Jungle helps unlock the estimated billions in unredeemed gift cards by allowing people to sell gift cards for up to 92 percent of the gift card value and buy new gift cards at their favorite brands for up to 35 percent off.
FlexPerks Travel Rewards cardholders also earn one FlexPoint for every dollar they spend with the card and two FlexPoints on cell phone related charges and on gas, groceries or airline travel purchases, whichever they spend the most on each month. FlexPoints can be redeemed for travel on more than 150 airlines, with just 20,000 FlexPoints required for tickets valued up to $400. In addition to the many travel perks, FlexPoints also can be redeemed for merchandise, gift cards, statement credit and more.
Newly qualified FlexPerks Travel Rewards consumer and small business cardholders, who spend $2,500 in the first five months, are eligible for an airline ticket valued up to $400. To learn more about the U.S. Bank FlexPerks Travel Rewards card, visit a nearby branch or http://www.usbank.com/credit-cards/flexperks-travel.html.
About Plastic Jungle
Plastic Jungle (www.plasticjungle.com) is the web's largest secured gift card exchange, giving consumers the choice and flexibility to convert their gift cards into other forms of spending power -- including online balances to use at the millions of merchants that accept PayPal; loyalty points with their favorite retailer or financial institution; Amazon.com Gift Cards; and a variety of other payment formats. Plastic Jungle’s patent-pending marketplace and payment applications aim to safely unlock billions of dollars in unredeemed gift cards trapped in the economy for the benefit of consumers and merchants alike. Based in San Mateo, California, the company is privately held, with venture backing from Shasta Ventures, Redpoint Ventures, Jafco Ventures, Citi Ventures, First Round Capital, Bay Partners, Harrison Metal and Western Technology Investment.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $340 billion in assets as of Dec. 31, 2011, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,085 banking offices in 25 states and 5,053 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.