Overview: The Miles by Discover Card features a rewards program that gives the cardholder numerous opportunities to earn bonus miles. Extra miles are awarded for travel-related purchases and other select transactions. There is a limit on the number of bonus miles that may be earned for these purchases. Bonus miles are also awarded each month for a limited time, as long a purchase is made with the card each month. Miles never expire on active accounts, but there are yearly mile limits. Miles can be redeemed towards flights with no blackout dates, cash, and more. This card has no annual fee and a low introductory APR. The purchase APR after the introductory term is variable, but reasonable for those with good credit. This card is not ideal for those who carry a balance because of the method used to calculate finance charges. Standard perks like auto rental insurance are included with this card.
Pro and cons of the card:
Pros:
Bonus miles for select purchases
Monthly bonus miles for a limited time (for active accounts)
Miles do not expire on active accounts
No limits on rebate earnings
Redeem miles for flights, cash, and more
No blackout dates for flights
No annual fee
Low introductory APR for purchases and balance transfers
Reasonable purchase APR after introductory term with good credit
Benefits like auto rental insurance are included
Cons:
Limits on bonus miles that may be earned for making select purchases
Yearly limits on mile earnings
Variable APR depending on credit history
Cash advance APR is somewhat high
Not ideal for those who carry a balance because of the method used to calculate finance charges
Excellent Credit
750-850
Good Credit
660-749
Fair Credit
620-659
Bad/Poor Credit
350-619
No Credit
0-0
Do You Know Your Credit Score? Find Out Now!
A credit score
is a number generally between 300-850, based on a statistical
analysis of a person's credit files. This score represents the credit
worthiness of a person. A credit score is assigned to each individual, to rate
how risky a borrower he or she is--the higher the score, the less
risk the individual poses to creditors. In most cases, your credit score will determine whether you will be
approved for a credit card.
1. Credit Scores range from 300-850, the higher the better 2. Most lenders base approval on your credit score. 3. Higher Scores mean lower payments and better deals. 4. Higher Scores mean Lower interest rates. 5. Scores are determined by 5 main categories:
Payment History
Amounts Owed
Length of Credit History
Type of Credit Used
New Credit
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* See the online Miles.discovercard.com (www.milesdiscovercard.com) credit card application for details about terms and conditions and offers.
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Type of credit needed: Good Credit
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