The Discover It Miles Credit Card does not offer a normal sign-up bonus, however they do offer a bonus match of all the rewards you’ve earned during the first year. Depending on how you use your card, this can make it more rewarding, as we will review below.
This card comes with no annual fee and earns an ongoing rewards rate of 1.5% on all your everyday purchases. They generally do not have any categories that you have to keep up with, and no limit on the amount of rewards you can earn.
While this card competes well with other no annual fee Travel and Cash Back credit cards, one inconvenient drawback is that Discover isn’t as widely accepted as Visa or MasterCard.
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The Discover it Miles Rewards Match
At the end of your first year, Discover will match all the rewards you’ve earned over the course of that first year only. If would like a sign up bonus for your troubles, this card is in competition with some bigger name, no annual fee credit cards (e.g. Chase Freedom®, Capital One® Quicksilver® Cash Rewards Credit Card). For example, if your credit card usage was at least $10,000 during the first year, you will have earned $150 in matched rewards with the Discover It Miles Card.
The good news with the rewards match is that you’re in control of the bonus potential. Spend $15,000 during that first year with the Discover it Miles Card and you’ll earn 22,500 miles that are worth a $225 rewards match.
Redeeming The Miles
You have two options of redeeming your miles:
- Via statement credits for travel purchases made within the past 180 days. Travel Purchases include airline tickets, hotel rooms, car rentals, travel agents, online travel sites and commuter transportation.
- Via an electronic cash deposit directly into your bank account.
Previously, if you redeemed for a cash deposit, it would devalue your points. Now, you will always get $1 for every 100 miles you’ve earned. Due to this change, there’s not much reason to worry about keeping track of your travel expenses within the past 180 days for redemption purposes.
With this change, the Discover it Miles card competes better with both Travel cards and Cash Back cards. Also, unlike many other cards, there’s no redemption minimum so you can technically redeem at just one Mile if you wish.
After the 3% for the first year, the Discover it Miles Card earns an ongoing 1.5% rewards rate. This is a good rate for a no annual fee credit card, and you’ll want to compare it with other no annual fee cards like the Capital One Quicksilver Cash Rewards (1.5% & has a bonus). Both of those cards are more widely accepted than the Discover it Miles card.
Discover It Miles Credit Card Features
- No annual fee & unlimited 1.5x Miles on every dollar you spend on purchases. 0% intro APR on purchases for 12 months-then a variable purchase APR applies, currently 10.99% – 22.99%.
- Exclusive Double Miles Offer: At the end of your first year-when other Miles cards charge an annual fee-Discover doubles all the Miles you’ve earned.*
- 100 Miles = $1 value. Redeem Miles in any amount toward travel purchases on your statement. Or get cash as a direct deposit to your bank account.*
- Discover pays you back for your in-flight Wi-Fi fees-up to $30 a year-with an automatic statement credit.*
- New Freeze It(SM) on/off switch lets you prevent new purchases, cash advances & balance transfers on misplaced cards in seconds by mobile app & online.*
- Free FICO® Credit Score on statements, online & by mobile app.* And 100% U.S.-based service any time.
- Free overnight shipping of replacement cards to any U.S. street address at your request. And you’re never responsible for unauthorized purchases on your Discover card.*
- *See rates, rewards, free FICO® Credit Score terms and other info by clicking “Apply Now.” See complete Discover it® Miles details.
Here’s Why You Should Apply For Discover It Miles
- Rewards Match First Year: Any rewards that you earn your first year of using your card, Discover will match it by matching your rewards. There is no specific category you must spend in, and there is no cap to the rewards you can earn.
- Bonus Rewards: Earn a $100 bonus by signing up for this card through our referral link. All you have to do is make your first purchase within the first 3 months of your card acceptance.
- $30 Free WiFi Credit: How many times you wanted to use WiFi on the plane but too cheap to pay for it? With the Discover It Miles card, you get an annual credit to cover up to $30 for in-flight Wi-Fi charges. So go ahead and enjoy that WiFi internet access knowing that you’ll be getting $30 back.
- No Foreign Transaction Fees: Traveling abroad? Discover It Miles has no foreign transaction fees that’s typically 3% of the purchase amount.
- More Card Benefits: Other great perks you will find in the Discover It Miles include free monthly FICO credit scores, no late payment fee for the first late payment, no penalty APR , and access to U.S. based customer service.
The bottom line is to use the Discover It® Miles card for your first year for All Purchases especially in the first year for their Bonus Miles Offer without confusing categories or conditions.
The miles can be redeemed for any amount to cover travel purchases or convert them to cash into your bank account. Additionally, the card has no foreign transaction fees, a $30 in-flight WiFi credit each year, and a free FICO score on your monthly statement.
If you are interested in posts like this, check our list of credit card bonuses!