The Discover Miles credit card is one of the credit cards offered by Discover Financial Services that falls within the category of the travel rewards credit cards. This credit card offers some very desirable credit card rewards, a competitive interest rate and requires no annual fee.
The Discover Miles credit card allows the account holder to earn double miles on the first $3,000 in travel and restaurant purchases made each year. During the first year, the credit card account holder can also earn 12,000 bonus miles which are earned at the rate of 1,000 miles per month as long as a qualified purchase is made each month.
Double reward miles can also be earned by making purchases through ShopDiscover, the company’s online shopping outlet.
Other than the special rewards offer, the Discover credit card earns $1.00 in rewards miles for every $1.00 on credit card purchases.
There is no limit to the number of miles that can be earned with the credit card and as long as your credit card remains active and not in default, the credit card miles won’t expire.
The credit card miles earned can be redeemed in a number of ways including obtaining $100.00 travel credit to the account toward a travel purchase for every 10,000 miles accumulated, redeem the rewards for a Discover Gift Card once 5,000 miles have accumulated, redeem the miles rewards for a direct deposit to your bank account or a Discover account credit once 5,000 miles have been accumulated or redeem them for a gift card from one of the authorized merchants after 1,000 miles have accumulated.
The credit card APR is set at 0% for the first 6 months the account is opened and also offers a 0% introductory credit card APR for credit card balance transfers in the first six months. After the introductory period, the standard credit card APR will be a rate between11.99% variable and 18.99% variable depending upon the qualifications and credit history of the credit card applicant. Only balance transfers requested with your application are eligible for the 0% introductory credit card rate offer.
Discover does not charge a periodic finance charges on new purchases, or any portion of a new purchase, paid by the due date on the current billing statement if the entire balance on the previous billing statement is paid in full by the due date on the statement.
The terms and conditions on the credit card account, including the credit card rates and fees, are established by Discover Financial Services and are subject to change. Account holders will be subject to the terms of the Discover credit card cardmember agreement.
The Discover Miles Credit Card is issued by Discover Financial Services, one of the largest credit card issuers and electronic payment services firms in the U.S. Discover Financial Services issues credit cards, operates the PULSE ATM network, Diners Club International as well as Discover Bank which offers products such as FDIC insured certificates of deposit, savings accounts and money market accounts.