WorldPerks® Visa® Signature Card

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At a Glance:

  • Issuer: U.S. Bank
  • Intro APR: Intro Rate Not Available
  • Regular APR: 14.75%
  • APR Type: Variable APR
  • Annual Fee: $90
  • Application Fee: $0
Link to Application

Review:

The WorldPerks® Visa®, issued by U.S. Bank, is ideal for those with excellent credit who travel regularly with Northwest Airlines® or any of their airline partners. Through the rewards program, cardholders earn two miles for each dollar spent through Northwest Airlines® and one mile for each dollar spent on all other purchases. Up to five miles per dollar can also be earned at numerous restaurants. Upon approval, up to 20,000 additional bonus miles are applied to the account. Earned miles may 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 $80,000 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. However, those who elect 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 restrictions. Although the $90 annual fee is slightly high and the interest rate for purchases is above average for a reward card, the signature card has no pre-set spending limit. It is important to understand that the APRs for all transactions are tied to the highest Prime Rate during a three-month time-period. Due to this policy, the APRs may never reach the lowest possible interest rates. Card users should also be aware that the signature version of this card does not allow balance transfers. In addition to the rewards program, cardholders can expect common signature card benefits offered by U.S. Bank, such as a personal concierge service, travel accident insurance, auto rental insurance, purchase protection services, and online account access. Nevertheless, this card has fewer benefits compared to other signature cards. 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 restrictions), and will be able to earn a free ticket or other travel-related service within a two-year time-period (due to the high annual fee) will benefit most from what the WorldPerks® Visa® has to offer.

Rates and Fees:

  • Introductory Rates: The WorldPerks® Visa® Signature Card does not have an introductory rate, please see below for nominal rates.
  • Purchase APR: The APR for purchases is 14.75%. Please note that this card does not have an introductory rate. Please also note that this APR is variable.
  • Cash Advance APR: The cash advance APR is 20.99%. Please note that the introductory rate does not apply to cash advances and that the cash advance APR for this particular card is variable. Please also note that the cash advance fee is 3%, $5 minimum (4%, $10 minimum for cash equivalent transactions).
  • APR Type: The APR on purchases for this card is variable and the APR on cash advances for this card is also variable. A fixed APR means that it is guaranteed for the life of the credit card and a variable APR means that it could change according to market conditions.
  • Balance Transfer Fee: Each balance transfer will be charged a fee equal to 3% of the balance being transferred, with a minimum charge of $5.
  • Annual Fee: The annual fee is $90.
  • Payment Grace Period: The grace period for this credit card is 20 - 25 Days. This means you have 20 - 25 days to pay for your purchase before interest accrues.
  • Late Payment Fee: The fee for a late payment is $24 on balances up to $499.99; $39 on balances of $500 or more.
  • Over-The-Limit Fee: There is no over-the-limit fee.
  • Application Fee: There is no application fee.

Rewards:

  • You will earn Miles for using this card.
  • For every dollar you spend, you will earn 1 mile.
  • What's the expiration policy for miles? none
  • Is there a yearly point limit? none (1 mile is awarded for every $2 spent if purchases exceed $80,000 per year or $10,000 per billing cycle.)

Card Features and Perks:

  • Full Featured Online account management tools.
  • Up to $1,000,000 in travel accident insurance.
  • Complimentary car rental insurance.
  • Up to double the warranty on merchandise bought with card.
  • Don't worry. Merchandise purchased with credit card will be automatically insured.
  • Complimentary emergency and travel assistance services.
  • Personal concierge service.
  • Lost luggage insurance.
  • Roadside assistance.
  • Guaranteed airport parking.
  • Receive valuable discounts on products and services found at countless websites and stores.
  • Details and more benefits and perks can be found at the card's website.