Review of the Worldperks Visa Signature





The Worldperks Visa Card was last reviewed on 8th April 2006



worldperks visa
Summary - We recommend the WorldPerks Visa to the Northwest Airlines Worldperks member (especially for the Silver, Gold and Platinum Elite members) mainly because
  • You can earn double miles on Northwest products purchases directly from Northest
  • You can earn unlimited miles
  • You get an annual 15,000 miles Worldperks award travel saver
  • Automatic enrollment in Rewards Network Dining program which allows you to additional miles (up to five) for every dollar you spend at Rewards Network Dining partners

Let us explore the card in greater detail.

Reward Formula - The Worldperks Visa Signature card allows you to earn double miles on Northwest tickets, Northwest gift certificates. WorldClubs� memberships and Northwest Airlines WorldVacations� packages made directly from Northwest Airlines (Northwest Reservations, Airport Ticket Offices, nwa.com�, WorldVacations reservations and nwaworldvacations.com). You can earn unlimited miles. However, if you annual spending exceeds $80,000, you will earn miles at a rate of one mile for every two dollars that you spend. However, you will be exempted from this restriction if
  • You are a Elite Silver, Gold or Platinum member
  • If you use the Autopay function and pay your balance in full every month (you elect the FULL PAYMENT option).

Annual WorldPerks award travel discount - Every year, cardholders will get Worldperks award travel discount (worth up to 15,000 miles), which is valid for up to two roundtrip economy class or first class ticket between contiguous US (includes Alaska) or between Contiguous US and Canada. (each roundtrip discount is worth 7,500 miles per person).

Automatic enrollment in Rewards Network Dining - Like many major US airlines reward programs, the Worldperks program allows members to earn up to five 5 miles for every dollar they spend at restaurants that are part of the Rewards Network Dining program. However, many members do not activate their credit card for this program and hence do not utilize this great feature. With the Worldperks Visa, you are automatically enrolled and your credit card is automatically activated so that you can earn extra miles when you dine at Rewards Network Dining partners.

Annual Fee and APR - The annual fee is $90.00. The apr is prime rate plus 9.75%. The Worldperks Visa uses the average daily balance method (including new purchases).

Minimum Income Requirements - You need a minimum income of $30,000 to apply for the signature card. If your income is less than this, you will be considered for the platinum version, which does not allow you to earn double miles.

Conclusion - We recommend WorldPerks Visa to the Northwest Airlines frequent traveller. Elite members, or those who use the AUTOPAY feature and pay their balance in full will have the added benefit of earning double miles even when they exceed annual spending of $80,000. Frequent travellers will also like the annual 15,000 miles travel awards discounts.

Postives
  • Earn double miles
  • Annual travel award discount
  • Automatic enrollment in Rewards Dining Network (many frequent flyers never utilise this feature).


Negatives
  • Earn miles at a lower rate once you spend more than $80,000 annually (though Elite members and those who pay their bills in full through AUTOPAY are exempted from this restrictions).



Worldperks Visa Signature
Miles Benefits
Miles Accumulation 1 mile per $1 spent on otherpurchases
2 miles per $1 spent on Northwest Airline, Northwest gift certificates, Worldclubs Memberships and Northwest Airline vacation packages through Northwest directly
Anniversary Bonus Up to 15,000 miles in Worldperks award travel discount
Miles Expiration No expiration if account is active within 36 months
Caps on miles Earn unlimited miles
However, when anual expenditure exceeds $80,000, you earn miles at a rate of one mile for every two dollars you spend.
Elite Silver, Gold and Platinum members are exmept from this restriction
Those who use the AUTOPAY feature and pay in full every month are also exempt from this restriction.
Credit Limits
Minimum Income required is $30,000
Travel and Insurance Benefits
Up to $1,000,000 Travel Insurance
Free rental car collision/los damage insurance
Other Benefits
Free 24/7 personal concierge service
24-hour dedicated Workperks Visa Signature Card Customer Service
extended warranty protection
Purchase Security
Free year-end Worldperks Visa account summary
Cost/Fees/Interest rates
Annual Fees $90.00
Purchase APR Prime Rate plus 9.75%
Balance Transfer APR Prime Rate plus 9.75%
Cash Advance APR Prime Rate plus 14.99%
Penalty/Default Rate Prime Rate plus 20.99 (min is 23.99%)
Overdraft Advance APR 13.99% fixed
Min Finance Charge $2.00 only in statement when interest is due
Grace Period 20 to 25 days
Balance Calculation Method Average Daily Balance (including new purchases)
Cash Advance fee 3% min $5.00
Over-the-credit-limit fee none
Late Payment fee $15.00 - up to $99.99
$29.00 - $100.00 to $999.99
$39.00 - $1,000 and up



Apply for the WorldPerks Visa

If you already have this credit card, we would appreciate if you can take some time to post your review. Our readers will find them very helpful.




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