U.S. Bank and Plastic Jungle Inc. have partnered to change the game on how balances of closed-loop gift cards can be used and treated as currency. This latest initiative has been launched to allow the ability for gift cardholders to transfer balances into credit card reward points.
Essentially, the initiative allows FlexPerks Travel Rewards Visa Signature cardholders to swap Plastic Jungle gift card balances for FlexPoints, a program that is among the most used within U.S. Bank services. FlexPoints can be redeemed towards airline tickets, car rentals, charitable donations home and other consumer products.
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By simply visiting the FlexPerks Visa Promotion Centre online, cardholders can log-in to their account, enter gift card details and have them converted by Plastic Jungle into FlexPoints. The number of points largely depends on the popularity and usability of a given gift card and not a standardized calculation.
Plastic Jungle’s core business is to provide solutions to customers by allowing the transfer or exchange of outdated and unused gift cards into something more suitable and usable. This initiative is a natural progression to integrating Plastic Jungle services with complementary businesses such as Visa.