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U.S. Bank Introduces Industry-Leading FlexPerks Travel Rewards Visa Cards

MINNEAPOLIS--(BUSINESS WIRE)--Apr. 10, 2009-- U.S. Bank customers familiar with earning miles on Northwest Airlines by using their WorldPerks Visa cards will have the flexibility to earn points toward free flights on over 150 airlines with no blackout dates or award ticket redemption fees with new U.S. Bank FlexPerks Travel Rewards Visa cards.

U.S. Bank will upgrade current WorldPerks Visa cardholders to new FlexPerks products beginning in May. When the cardholder’s new FlexPerks card arrives it will have the same credit card number, so no application is required and automatic bill payments should continue uninterrupted. Cardholders will receive a letter with specific details of their transition to FlexPerks.

FlexPerks Travel Rewards cardholders will earn one FlexPoint for each dollar spent on their new card. Customers will automatically earn double FlexPoints for what they spend on gas, groceries or airline purchases - whichever is highest for the customer during the month. In addition, double points are earned on most cell phone related charges. Cardholders can redeem as few as 20,000 FlexPoints for airline tickets on more than 150 airlines, including Northwest and Delta Air Lines. Each redeemed award ticket will also feature a credit allowance of up to $20 for possible baggage fees or in-flight food or beverages. FlexPerks cardholders also have the choice to redeem FlexPoints for gift cards, merchandise, travel certificates or statement credits. Debit card products will transition to FlexPerks this summer, enabling cardholders to combine their FlexPoint earnings from both credit and debit card purchases. Cardholders will continue to enjoy the universal acceptance that is available to Visa card customers.

“U.S. Bank FlexPerks Visa is designed to upgrade our valued WorldPerks Visa customers to what we truly believe will be the most valuable travel rewards card in the marketplace,” said Cliff Cook, chief marketing officer in U.S. Bank Retail Payment Solutions. “We had the perfect opportunity to confirm what was most important to our travel-minded customers and designed a new card program that gives travelers even more of what they seek: flexibility and value.”

To learn more visit usbank.com/flexperks.

U.S. Bancorp (NYSE: USB), with $266 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,791 banking offices and 5,164 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at usbank.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5937380&lang=en

Source: U.S. Bank

U.S. Bank Media Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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