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Credit Card Reviews » WorldPerks® Visa® Platinum Card |
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The WorldPerks® Visa® Platinum Card, issued by U.S. Bank, is ideal for those with very good credit who travel regularly on Northwest Airlines® or any of their airline partners.
Through the reward program, cardholders earn one mile for each dollar spent on purchases. Cardholders receive 55 miles each year when they pay the annual fee, and up to five miles per dollar can also be earned at participating restaurants. Upon approval, up to 7,500 bonus miles are applied to the account. Earned miles can be redeemed for free travel with Northwest Airlines® or any of their partners. Although miles do not expire, there are some mileage restrictions. For instance, those who spend more than $50,000 in any calendar year or over $10,000 per billing cycle will be limited to one mile for every two dollars spent over that amount.
Nevertheless, those who prefer to have their credit card bill automatically paid in full each month (or are members of Northwest® WorldPerks® Platinum Elite, Gold Elite, or Silver Elite) will be exempt from all reward limitations.
For an airline reward card, the $55 annual fee is considered reasonable, but the interest rate applied to purchases is above average. It is important to note that the APRs for all transactions are tied to the highest Prime Rate during a three-month period. Due to this policy, the APRs may never reach the lowest possible interest rate.
In addition to the reward program, cardholders can expect common platinum benefits offered by U.S. Bank that include up to $250,000 in travel accident insurance, auto rental insurance, purchase protection services, and online account access.
Therefore, those who can afford to pay in full each month (to avoid finance charges), plan to sign up for the auto-payment option (to avoid reward limitations), and will be able to earn a free ticket or other travel related service within a two-year period (due to the annual fee) will benefit most from what the WorldPerks® Visa® Platinum Card has to offer.
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n/a Intro APR (* see notes for details)
15.75% Regular Variable APR for Purchases
21.99% Regular Variable APR for Cash Advances |
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$55 Annual Fee
20 days Grace Period |
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| Finance Configuration: Average Daily Balance (including new purchases) |
| Additional Cardholders: $0 |
| Late Payment Fee: $24 on balances up to $499.99; $39 on balances of $500 or more |
| Over-The-Limit Fee: None |
| Cash Advance Fee: 3%, $5 minimum (4%, $10 minimum for cash equivalent transactions) |
| Balance Transfer Fee: 3%, $5 minimum |
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| Minimum Credit Limit: see terms* |
| Maximum Credit Limit: $7,500 |
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| Type of Reward: Mile |
| Miles per Dollar: 1.00 |
| Bonus Miles Annually: 55 Miles** |
| Mile Details: **Miles awarded for payment of the $55 annual fee. |
| Expiration: None |
| Yearly Limit: None |
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| Additional Features for WorldPerks® Visa® Platinum Card: |
Various Internet account related services.
Up to $250,000 in travel accident insurance.
Auto rental insurance.
Various travel and emergency assistance services.
Emergency cash replacement.
Emergency card replacement.
Lost and stolen card reporting.
No liability for unauthorized transactions.
Extended warranty for purchases.
Purchase protection.
Discounts on products and services at participating merchants and retailers.
See website for additional benefits.
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| Important Notes for WorldPerks® Visa® Platinum Card: |
The APR is based on the highest Prime Rate during a 90-day period.
Northwest® WorldPerks® Platinum Elite, Gold Elite, Silver Elite members and WorldPerks® Visa® customers who select the full payment option (AutoPay) are exempt from all award limitations on miles earned.
The minimum APR for cash advances is 23.24%.
See website for complete terms and conditions of card usage and application disclosure. |
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| Notes: The review on WorldPerks® Visa® Platinum Card was updated on January 28, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update.
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