U.S. Bank offers discounts for debit, credit card users

Credit card being swiped through a card reader

If you’re a loyal customer at U.S. Bank, especially when it comes to using its credit or debit card, expect to get some discounts as a reward.

U.S. Bank’s FreeMonee Gift Program offers up gifts, selected based on your card spending history, for its customers to use at popular stores and restaurants.

As often as every one to three weeks, those customers will receive an email alerting them that they have received a gift ranging in value from $2 to $50, depending on the retailer.

Gifts are redeemed when you use your U.S. Bank card while shopping at the retail store, website or restaurant listed in the email message within a specified time.

You can buy anything you want. Once the purchase is completed, the bank credits your account with the gift amount.

The cashier handling your transaction won’t know that you are using a gift, so it won’t be listed on your receipt. Instead, the gift will be credited directly to your credit card or checking account, generally within two weeks of the purchase.

U.S. Bank (www.usbank.com) is based in Minneapolis and has 3,000 branches in 24 Western and Midwestern states.

U.S. Bank’s program is in partnership with FreeMonee Network (www.freemonee.com), which helps merchants offer cash incentives to credit and debit cardholders via those customers’ financial institutions.

FreeMonee Gifts functions like a gift card on your debit or credit card, letting you buy anything you want with the designated merchant, no strings attached.

U.S. Bank is the first bank to offer FreeMonee Gifts, and it plans to expand the delivery of the gift program to mobile phones. FreeMonee expects 50 million households to have access to its gift programs by the end of this year.

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