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Award-Winning U.S. Bank FlexPerks Travel Rewards Card Celebrates One Year

MINNEAPOLIS, May 11, 2010 (BUSINESS WIRE) --The U.S. Bank FlexPerks Travel Rewards Visa Signature(R) credit card celebrates its one-year anniversary today. Named the "Best Credit Card if You Want Travel Perks" by Kiplinger's Personal Finance magazine, the FlexPerks Travel Rewards card offers industry-leading value and innovation for customers who want travel rewards.

"In just the last 60 days, our FlexPerks cardholders have redeemed over 1 billion FlexPoints," said Cliff Cook, chief marketing officer for U.S. Bank Retail Payment Solutions. "FlexPerks has been a huge success because our customers know that we provide them with tremendous value. For instance, for just 20,000 FlexPoints our cardholders have received airline tickets valued at an average of over $350. That's substantially higher than the $200 award ticket value many other airline and travel rewards cards deliver for 20,000 miles or points."

Since winning the Kiplinger's award, U.S. Bank has continued to innovate with FlexPerks, adding a $25 allowance with each award ticket that can be used toward baggage fees, in-flight food or drinks. Cardholders can now also redeem FlexPoints to pay their annual fee. Customers can still redeem as few as 20,000 FlexPointsSM for airline tickets valued up to $400 on over 150 airlines with no blackout dates, capacity controls or e-ticket booking fees. FlexPerks Travel Rewards cardholders earn one FlexPoint for each dollar spent, and two FlexPoints for cell phone charges and for gas, groceries or airline purchases - whichever is highest for the customer during the month. Plus with a U.S. Bank checking account package, cardholders can earn up to an additional 50 percent more FlexPoints each month.

Customers have the flexibility to choose the rewards they want with FlexPerks. In addition to travel, customers can earn cash back, merchandise, gift cards and statement credits. Cardholders also enjoy the universal acceptance that is available to Visa card customers. To learn more about the full suite of U.S. Bank FlexPerks credit, debit and business products, go to www.usbank.com/flexperks, or visit any U.S. Bank branch office.

U.S. Bank Retail Payment Solutions (RPS) is one of the nation's leading payment processing and full-service issuing providers. RPS offers credit, debit, and prepaid payment solutions to consumers and small businesses through U.S. Bank and in partnership with financial institutions, businesses, governments and employers.

About U.S. Bancorp
U.S. Bancorp (NYSE: USB), with $282 billion in assets as of March 31, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,025 banking offices in 24 states and 5,312 ATMs 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.

SOURCE: U.S. Bancorp

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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