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Miles by Discover Card Review: Credit Card |
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| Best overall travel rewards card; Earn up to 12,000 bonus miles in first year | |
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Miles by Discover Card allows cardholders to earn two miles per dollar spent on the first $3,000 in travel and restaurant purchases each year, and one mile per dollar spent on these types of purchases thereafter, as well as one mile per dollar spent on all other purchases. Cardholders also earn 1,000 bonus miles each month that the card is used for the first twelve months. There is no limit to the number of miles that can be accumulated, and miles do not expire.
Miles can be redeemed for a credit to your account reimbursing you for any travel purchase, with no restrictions. Every 5,000 miles earns a $50.00 travel credit. Miles can also be redeemed for gift cards or cash. 5,000 miles can be traded for a $25.00 account credit or, if you prefer, the $25.00 can be deposited directly into your bank account. The annual interest rate for Miles by Discover Card is 0% for the first six months, and anywhere from 11.99% to 19.99% thereafter. The balance transfer APR is 0% for the first twelve months, and the same as the purchase APR thereafter. There is a 3% transfer fee for balance transfers requested with your Miles by Discover Card application, and a 5% transfer fee thereafter. There is no annual fee. Miles by Discover Card is an excellent choice for anyone who would like to earn travel rewards. It will be most rewarding to consumers who are unlikely to spend considerably more than $3,000 on travel and restaurant purchases each year and who will use their credit card at least once each month. Even cardholders who only use the card occasionally or who do not travel frequently should still see benefits from this card, since miles are earned for all purchases and never expire. As far as travel rewards programs go, Miles by Discover card is quite flexible and rewarding. |
Service Details:
| APR: | 11.99%-19.99% (0% for first 6 months) |
| Features: | Earn 2 miles per dollar spent on your first $3,000 in annual travel and restaraunt purchases and 1 mile per dollar spent thereafter; 1 mile per dollar spent on all other purchases |
| Annual Fee: | None |
| Credit Needed: | Excellent |
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