Miles for the heavy spender...
Written: Aug 12 '00
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Product Rating:
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Pros: Good mileage program, automatic payment
Cons: Annual fee, no online account access
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| bostenson's Full Review: Northwest Airlines WorldPerks Visa (U.S. Bank) |
Given that I live in Minnesota (the Twin Cities are a Northwest hub), have already accumulated some Northwest frequent Flyer miles and charge a fair bit, it was only natural that I consider the Northwest Worldperks Visa.
I've never had a card with an annual fee before ($55) and seriously considered whether it was really worth it. Having now used frequent flyer miles to purchase tickets, the conclusion that I came to was that a domestic ticket that "costs" 20,000 miles is worth up to $400. Using that, 1000 miles was worth $20. Seeing as how you earn 1 mile/$1 spent (the ratio decreases if you are a VERY heavy user), all I had to do was charge about $3000 and I broke even. Now, that is not to say that if you charge $3000 a year, you should get this card! Since that's only your breakeven point, and I'd rather have cash than miles, I believe you really have to charge about $5000+ a year to make this card worth your while!
Well, it so happens that I make nearly all my purchases through this card and I also periodically run business expenses as well. It has paid handsomely for me. But, do keep in mind that miles have a value to them and in some cases I've bought tickets rather than used miles because I found a better deal buying them. Seeing as how they have a quantifiable value, measure your spending to see if it's worth it to you. You may well end up just breaking even or losing money if you are not charging a fair bit on a consistent basis.
With regards to customer service, I've found US Bank to be easy to deal with on the few occasions that I've had to. Thankfully, I've rarely had to seeing as how I've configured automatic payment from my checking account each month! This brings me to another point, do NOT carry a balance on this card! The interest rate is Prime + 9.75% or 18% currently. This is a purchasing card only, not a balance card. If you're carrying a balance, get another card for that purpose.
On the down side, I do wish they had a web site to track my spending. This is available if you are a US Bank customer but being that I am not, this is of no use.
All in all, I've been happy with this card and will keep it but should it happen that my spending on a credit card drops below $6-7000 a year, I will likely drop it because the bonuses are just not worth it at that level.
You can find more information at: http://www.nwa.com/freqfly/earn/credi.shtml
Recommended:
Yes
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Epinions.com ID:
bostenson
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Member: Bryce Ostenson
Location: St. Paul, MN
Reviews written: 7
Trusted by: 4 members
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