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Miles by Discover® Card Review
The Miles by Discover® Card was last reviewed on 26th June 2008
Summary - The Miles by Discover® Card is a travel credit card which allows cardholders to earn points which can be redeemed for travel rewards. With this card, you earn one mile for every dollar you spend on the card. Is this the best travel credit card? Let explore this card in greater detail.
Miles Formula - The Miles By Discover® Card allows the cardholder to earn one miles for every dollar spent on the card. For the first $3,000, you can earn double miles when you use your card for travel purchases. The Discover Miles program allows you to use any travel agent (online or offline) to book a travel ticket. Your miles will be used to credit the purchase you've made. This will appeal to those who want to earn reward points, but yet want the flexibility to do their own bookings rather than having to use the credit cards' in house travel agent and face the usual restrictions. With this method, there are no blackout dates or any restrictions. You can also use your miles to redeem gift certificates or cash rebates.
Cost and Fees - The Miles By Discover Card has no annual fee. You get a 0% APR for 6 months for purchases and balance transfers. The APR is between 10.99% and 18.99%. The average daily balance method is used to calculate monthly balances.
Verdict - The The Miles by Discover® Card will appeal to those who want to earn points for travel but yet want the flexibility to book their own travel itinerary rather than use the credit cards' own in-house travel agents.
Positives
No annual feeCan book your own travel and face no blackout dates or restrictions
| Miles By Discover® Card |
| Reward Benefits |
| Point Accumulation |
Earn 1 mile for every dollar you spend |
| Cost/Fees/Interest rates |
| Introductory rate |
0% on purchases and balance transfer for 6 months |
| Annual Fee |
No annual fee
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| Purchase APR |
10.99% to 18.99% |
| Cash Advance APR |
20.99% or 23.99% |
| Penalty/Default Rate APR |
Up to 28.99% |
| Min Finance Charge |
$0.50 |
| Grace Period |
25 days |
| Balance Calculation Method |
Average Daily Balance (including new purchases) |
| Balance Transfer Fee |
3.00% for each balance transfer made under this offer, with a minimum of $10 and
a maximum of $75. |
| Cash Advance fee |
3%, min $5.00 |
| Over-the-credit-limit fee |
$15.00 - balances up to $500
$39.00 - balances over $500 |
| Late Payment fee |
$15.00 - balances up to $500
$39.00 - balances over $500 |
Apply for the The Miles by Discover® Card
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