A Candid Look at the Miles by Discover® Card

by : Scott Stadler

Do you travel frequently, but not always use the same transportation carriers or hospitality providers? If so, the Miles by Discover® Card might be just the rewards credit card needed, as it allows almost all purchases to spawn most valuable travel rewards. However, there are a few catches...

Where Does the Miles by Discover® Card Stand Out?

This credit card stands out the most when it comes to delivering what its namesake promises - Miles. Earning one mile for every dollar made in purchases with the card and even earning double miles on some qualifying purchases, the rewards certainly will accumulate quickly. Additionally, earning bonus miles is possible from time to time when the right conditions are met. Once the miles add up, redemption is easy through travel credits, cash, or partnerships with many major names in the travel industry.

What About the Interest Rate for This Credit Card?

For a credit card extended to those in the premium credit classes, the interest rate or APR on purchases is not really anything to call home about, but it's not all that horrible either. Plus, many will choose to use this card just to rack up the miles rewards while paying off balances in full, therefore avoiding the interest in full. Balance transfers are offered at a reasonable, but not exceptional 0% intro rate for the first 12 months for those who qualify.

How Does This Credit Card Stand Up Against its Peers?

When it comes to rewards and specifically mileage type rewards, the Miles by Discover® Card ranks well against its peers. This is because of the freedom and flexibility offered when redeeming the rewards. With many other mileage credit cards, the points expire quickly and can only be used with one specific carrier. This is not the case with this Discover card.

Some cards in the same class offer better interest rates and longer zero interest balance transfer time frames, but it might be difficult to find one that matches both excellent rewards with low interest features. This card charges no annual fee, but that should really just be a given when it comes to higher end cards.

What are the Downfalls of This Credit Card?

While this Discover Card is a good choice in many regards, as with any credit card, there are always a few down points. It is limited to those with good to excellent credit, so those who fall short of the requirements will likely be disappointed by a lack of approval.

All Things Considered, Is the Miles by Discover® Card a Recommended Choice?

Yes, the Miles by Discover® Card is recommended, mostly for its ease of reward redemption and the ability for the rewards to stack up. Interest and fees are right down the middle, but most card holders probably will not be using this card for carrying a balance or for transferring balances anyway, since there are other credit cards available specifically for those purposes.