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.
Updated: June 5, 2006
Most Attractive Feature(s) : Miles earned can be used with various airline partners; miles do not expire; bonus miles.
Least Attractive Feature(s) : APR based on highest Prime Rate during a 90-day period; miles reduced by 50% after $50,000 in annual spending (not applicable to all members).
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