Discover it® Miles

Robin Saks Frankel  in  Rewards Advertising Disclosure
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Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

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Best for simple earning

Annual Fee:
$0
Purchase Intro APR:
0% for 14 months
Balance Transfer Intro APR:
10.99% for 14 months
Regular APR:
14.24% - 25.24% Variable
Terms and Restrictions Apply | Rates and Fees

Bankrate Rating

Commonly used for: EMV, Excellent Credit, Free Credit Score, Miles, Mobile Pay Ready, No Annual Fee, No Foreign Transaction Fees, Price Protection, Travel, Unsecured credit card, Zero Fraud Liability.

The Discover it® Miles card is a niche card that allows users to earn rewards that they can apply to travel purchases or redeem as cash back. This card really shines in its first 12 months, as Discover will match all of the miles that you earned in the 1st year of card ownership. The Discover it® Miles offers a rate of 1.5X miles for every $1 spent. And, since it’s a Discover card, they’ll match your rewards at the end of the first year. If you are looking for a straightforward card with no annual fee that offers an incredible amount of flexibility in how you redeem your rewards, this card is for you.

All of that being said, if you are looking for the credit card that will give you the highest rate of return for travel purchases and travel rewards, there are other cards on the market that will be better for you.

Review

On top of the excellent year 1 rewards value that comes with the Discover it® Miles card, you will also get an introductory interest-free period of 14 months on purchases, after that the variable APR of 14.24% – 25.24% will apply. If you have plans to splurge on a trip that includes pricey airline tickets, this card could save you some money. Discover it® Miles charges no foreign transaction fees, so it could be a good choice to use if heading abroad.

As a stand-alone card that charges no annual fee, the 1.5X rewards rate on all purchases is about average. The end-of-year match makes it a solid choice among rewards cards – at least during your first year of ownership. The only other card that pays 3X back the first year is the Alliant Cashback Visa Signature Credit Card, but that has a $59 annual fee (waived the first year) and you have to be a member of Alliant Credit Union to be eligible.

Travelers who are big spenders and road warriors might be better off with a card that pays bigger rewards on travel. There are cards that pay as much as 3% to 5% back on travel purchases and come with other plush perks like hotel upgrades.

Who should own this card

Ignore the fact that this card has “miles” in its title, Discover it® Miles performs best as a cash-back card. If you’re looking for a high return without having to pay an annual fee, you should consider this card.

Advantages
  • Cardholders receive unlimited 1.5x miles for every dollar on purchase.
  • At the end of the first year your account is open, Discover will automatically match all the miles earned, essentially earning you 3X miles or cash back in total.
  • There’s a 0% introductory APR offer for 14 months on purchases.
  • Redeem rewards in any amount for cash-back or airline miles.
Disadvantages
  • As a travel card, there are other cards that offer better rewards.
  • You can transfer balances and pay a lower rate than your purchase APR, but many cards offer a 0% introductory balance transfer rate.
  • There’s a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.

Fees and APR

  • This card charges no annual fee.
  • There are no foreign transaction fees on purchases made outside the United States.
  • On balance transfers, you’ll pay 10.99% APR for 14 months from the date of the first transfer. After the intro APR expires, you’ll pay a variable 14.24% – 25.24%, based on your creditworthiness.
  • On purchases, you’ll pay a 0% intro APR for 14 months from the date of account opening. After the intro APR expires,  you’ll pay a variable 14.24% – 25.24%, based on your creditworthiness.
  • See Rates & Fees

Extras, perks and using rewards

There is no minimum amount required for redemption, and there’s no fee to redeem points for cash or airline miles.

Miles redeemed for cash can be electronically deposited into a bank account of your choice, starting at one mile. Miles redeemed for cash are paid at the same rate as they are when you redeem them to reimburse travel purchases.

Redemption is available for travel purchases only if the purchase was made within the last 180 days. If you’re interested in more information on how to earn and use your miles, check out our guide to Discover it® Miles.

Discover warns that purchases made using mobile wallets, like Apple Pay, may not be eligible for reimbursement.