I signed up for the USBank FlexPerks Travel Rewards Visa late last August, so just approaching its first anniversary. I took advantage of the summer Olympics promo, but have continued to use the card for $100-$200 of spending per month. I'm not interested in paying the annual fee, so I called customer service. I poked around that I was thinking about cancelling the card because I didn't want to pay the annual fee. "Ok, we can cancel the card." Poked around about isn't there some way to avoid the annual fee. Explained while I liked the features of the card when I opened it, since then, point redemptions had been devalued and point earnings are being reduced for charitable contributions. As such, it isn't worth the annual fee to me any more. "Well, you'll have to decide that for yourself; we can close the card or you can pay the annual fee."
Called back again, got a different CSR. Went slightly different route; explained that I didn't want to pay the annual fee and why (rewards deflation) and asked about converting to a different USBank card product (thinking Cash+). He went away for a few seconds and came back and said, "no, there are no conversion offers available to you for this card." None? I pressed further and mentioned Cash+ specifically. Nope, I can't convert the card to the Cash+ or any other card. I can close it or pay the annual fee.
I have 8,000 FlexPerks points available on this card, and you can only redeem in increments of $50. (I had thought it was that you needed to have *at least* 5,000 points to redeem, but you can only redeem in *increments* of 5,000.) I've already transferred the max points this year to my wife's account. I either cash out at $50 and leave $30 on the table, or pay the annual fee. Another idea I had was to transfer 20,000 points back from my wife's account to mine. That will give me an even 10,000 points. I cash out for $100 and close the account. That's probably the route I will take.
Sad to think that USBank doesn't like me enough to keep me around. 
Chris.
Some say age is just a number, but i think it was actually banks that adhere to saying WE are just a number
So just closed the card after cashing out my rewards and setting myself up for another $215 cash. 😀
First logged in as DW and transferred 2000 points. Logged in as me and points were immediately available. Cool. Then went to redeem the 10k points for $100. Two options: statement credit or deposit to Usbank account. Statement credit doesn't seem optimal, because it would immediately be reduced by the $49 annual fee already charged to the account. So deposit account it is. I don't have a Usbank deposit account. But DW does, so I put in that checking account number. No go. Apparently name has to match. Boo. So I guess I need to open a Usbank deposit account. But first I do a Google search for Usbank checking bonus and see that there's a $200 bonus offer for opening an account through 8/21. What the heck, I get the offer code and fill out the application. Get to the funding page and see that I can fund with a credit card for up to $500. So I use my alliant 3%-on-everything card, earning me an additional $15 in cashback.
But once again, when I called to close the CC, CSR didn't make the vaguest attempt to talk me out of closing the card. I must score really really low on their profit score, which would be accurate.
Chris.
First logged in as DW and transferred 2000 points. Logged in as me and points were immediately available. Cool. Then went to redeem the 10k points for $100. Two options: statement credit or deposit to Usbank account. Statement credit doesn't seem optimal, because it would immediately be reduced by the $49 annual fee already charged to the account. So deposit account it is. I don't have a Usbank deposit account. But DW does, so I put in that checking account number. No go. Apparently name has to match. Boo. So I guess I need to open a Usbank deposit account. But first I do a Google search for Usbank checking bonus and see that there's a $200 bonus offer for opening an account through 8/21. What the heck, I get the offer code and fill out the application. Get to the funding page and see that I can fund with a credit card for up to $500. So I use my alliant 3%-on-everything card, earning me an additional $15 in cashback.
But once again, when I called to close the CC, CSR didn't make the vaguest attempt to talk me out of closing the card. I must score really really low on their profit score, which would be accurate.
Chris.
US Bank will not waive annual fees for anyone, so don't feel like they dislike like you, it's just their policy.
