Rewards Plan
Sign up Bonus
Credit Rating
0% Intro
Annual Fee
APR
- Earn 1.5 miles on Every Dollar You Spend
- Flexible Redemption Options
- No 0% Intro APR
- Good Credit Needed
Rewards Plan
Sign up Bonus
0% Intro
PROS
- Earn 1.5 miles on Every Dollar You Spend
- Flexible Redemption Options
CONS
- No 0% Intro APR
- Good Credit Needed
APR
16.74% - 27.74% variable
Annual Fee
$0
Balance Transfer Fee
5% or $10
Credit Requirements
Good - Excellent
The Discover it® Miles credit card is a solid entry level option for the occasional traveler who is looking to earn rewards towards flights, hotels, and car rentals. It has a flat rate of rewards and a very simple redemption process. It is, however, best for cardholders with a credit score of more than 700, and it is the best option for people who travel a lot.
The card offers an unlimited 1.5x miles for every dollar spent on all purchases . There are no specified purchases so, this applies to ALL, and another great benefit - there is no annual fee.
When you sign up, discover will offer you an excellent sign-up bonus. Discover matches your first year miles automatically (for example: 10,000 miles becomes 20,000 miles). For example, if you earn 35,000 miles, Discover shall give you 35,000 miles as well , so you'll have 70,000 points in total. This is equivalent to $700 for travel, and the more you earn, the more you shall get.
Let’s take a closer look at the benefits and drawbacks of the Discover It Miles Card – and whether or not it’s right for your wallet.
- Sign Up Bonus: Discover Matches Miles
- No Minimum Redemption Requirements
- Earn 1.5 miles on Every Dollar You Spend
- Flexible Redemption Options
- No Foreign Transaction Fee
- Not the Highest Rewards Rate
- High Requirements
- No 0% Intro APR
- Less Merchant Acceptance
How Much Are 10,000 Miles/Points Worth?
One of the attractive things about Discover miles is that there is a stable redemption rate. Regardless of how you use your miles, you can expect a value of $0.01 per mile. So, if you have accumulated 10,000 miles, they will be worth $100.
How Does The Card Integrate With Discover Accounts?
Discover has an impressive website platform and app which allow you to manage all your accounts in one location. So, the card does integrate well if you have other Discover products and accounts.
When Should You Consider It?
If you want a rewards card with a straightforward reward structure, the Discover It Miles card is likely to appeal. It is also a good option if you are planning on making larger purchases during the first year, as Discover will match all your rewards mile for mile on your one year anniversary.
In This Review..
Benefits
Discover It Miles Card offers some great benefits for travelers and those who are spending time out of home – but not only or them:
- Sign Up Bonus: Discover Matches Miles
If you spend $20,000 over your first 12 months, for example, you’ll accrue 30,000 miles on your card and Discover will match that giving you a total of 60,000 miles earned in your first year.
This is a great benefit because it gives you time to spend money on your card throughout the year. You don’t have to rush to make lots of purchases the first 3 months like most credit cards limit you to for sign up bonuses.
- No Minimum Redemption Requirements
Some credit cards require you to have a minimum $20 balance before you can access redemptions, but with the Discover It Miles card, there are no minimum requirements.
This gives you the flexibility to accrue a large balance or redeem a small balance such as one mile.
- Earn 1.5 miles on Every Dollar You Spend
The Discover it® Miles card earns you a flat rate of miles per dollar on every purchase in any category. This makes it simple to remember if you’re tired of the credit cards that have rotating categories that are hard to keep track of.
- Flexible Redemption Options
The redemption option allows you to redeem your miles as cash back at a rate of 1 cent per mile. You can choose to redeem your miles towards travel or as a statement credit.
This is equivalent to earning 1.5% cash back since you are earning 1.5 points per dollar you spend.
- No Foreign Transaction Fee
Having zero transaction fees on foreign purchases makes sense considering it’s a travel credit card.
But not every credit card offers no foreign transaction fees, so this is a nice perk with Discover. You can swipe away and enjoy the trip overseas without accruing lots of fees.
Drawbacks
- Not the Highest Rewards Rate
While earning miles per dollar spent with no annual fee may seem like a good deal, it’s still a low rewards rate compared to other travel credit cards on the market.
There are options out there that offer 2 points per dollar spent as well as easy to hit sign up bonuses that can be quite lucrative.
- High Requirements
If you’re just starting out building credit, it may be tough to get approved for this credit card and you could be better off going with a different card instead.
To get approved you’ll need to show a healthy credit history and a fairly high score.
- No 0% Intro APR
The Discover It Miles card doesn't offer 0% intro APR on either purchases or balance transfers.
If you have a high balance you’re transferring over, this fee could add up to a lot of money as compared to a credit card that offers 0% transfer fee or 0% intro APR on Transfers.
- Less Merchant Acceptance
Discover isn’t as widely accepted by merchants as other credit cards like Visa and Mastercard. Getting acceptance overseas may prove to be more difficult for the Discover It Miles card holders.
Calculate Miles: How Much You Can Earn?
If you're a frequent traveler, there is no doubt you can leverage your Discover It Miles card to get a bunch of miles rewards, in addition to another benefits it offers. But how much exactly can you earn?
In order to understand that, we need to calculate the miles based on the card terms and spend per each category. However, everyone has its own habits, so it's important to adjust the according to your specific category breakdown.
| |
|---|---|
Spend Per Category | Discover it® Miles |
$15,000 – U.S Supermarkets | 22,500 miles |
$3,000 – Restaurants
| 4,500 miles |
$1,500 – Airline | 2,250 miles |
$1,500 – Hotels | 2,250 miles |
$4,000 – Gas | 6,000 miles |
Annual Points | 37,500 miles |
Estimated Points Redemption Value | 1 mile ~ 1 cent |
Estimated Annual Value | $375 |
How to Redeem Your Miles Rewards?
With the Discover it Miles, cardholders earn unlimited 1.5x miles for every dollar spent on all purchases.
Discover allows you to:
- Get a statement credit to pay for your travel purchases
- Use your miles to shop with PayPal and Amazon.com
- Fund your travel plans: There are no blackout dates and eligible purchases include hotels, restaurants, and airfare.
Best Ways to Maximize Miles Rewards
Here are some recommended options to help you make the most of your Discover it® Miles Card:
- Make all of your major purchases in the first year. If you plan on making a large purchase, you can not only take advantage of the 0% APR intro period, but Discover will also match your miles, giving you a double reward.
- Use With Other Cards: This card only offers a flat rate of 1.5x miles. As a result, you can combine it with cards that are better suited to specific categories.
How To Apply For Discover It Miles Credit Card?
- 1.
Visit the Discover It Miles Credit Card home page, and then click on “Apply Now.”
APR
Annual Fee
Balance Transfer Fee
Credit Requirements
- 2.
It takes you to the next page where you can choose your card design.
- 3.
Select one and fill in your personal details like your Names, address, email, birth date, income, employment status, etc, then click “Next.”
- 4.
Read the terms and conditions, check the two boxes to agree to the terms, and then click on “Submit.”
Is the Discover it® Miles Card Right for You?
If you’re an occasional traveler who likes a simple to remember rewards system.
It has a flat rate of rewards and a very simple redemption process. It is, however, best for cardholders with a credit score of more than 700, and it is the best option for people who travel a lot.
If you frequently travel abroad, the card does not charge any foreign transaction fees, but it is important to note that it is not acceptable in all countries.
Overall, work out the math to compare what you think you’ll spend and decide which credit card offers the best reward system that fits your needs.
Compare The Alternatives
There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the BoFa Travel Rewards:
|
|
| |
|---|---|---|---|
Bank of America® Travel Rewards credit card | Capital One Venture Rewards Credit Card | Chase Sapphire Preferred® Card | |
Annual Fee | $0 | $95 | $95
|
Rewards |
1.5X
1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points
|
2X
2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel
|
2X – 5X
5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and online grocery purchases and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases
|
Welcome bonus |
25,000 points
25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases
|
75,000 miles
|
60,000 points
60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
|
Foreign Transaction Fee | 0% | None | 0%
|
Purchase APR | 18.24% – 28.24% Variable APR will apply. A 3% fee (min $0) applies to all balance transfers | 20.99% – 28.99% (Variable)
| 21.24%–28.24% variable APR
|
FAQ
Unfortunately, although this card does allow you to accumulate miles for your travel plans, there are limited travel perks associated with this card. This includes a lack of car rental insurance.
Even if you reserve and pay for your rental vehicle with your Discover It Miles card, you’ll not receive any supplemental coverage.
There are several redemption options for your Discover It Miles. You can use your miles for PayPal or Amazon shopping, get statement credit or exchange for flights, hotels and restaurants.
Discover It Miles can be used to reimburse you for travel purchases such as airfare. You can apply to have the cost of your travel purchases redeemed as statement credit without any blackout dates.
No, you can continue to accumulate your miles and use them as and when you prefer without needing to worry about any expiration dates. Providing your account is in good standing and remains open, you should not have any issues with your miles remaining valid.
As with most Discover cards, you will need good to excellent credit to qualify for the Discover It Miles. This is typically because the cards offer decent rewards, particularly with the reward match at the end of the first year.
This means Discover needs to ensure that you are financially responsible and do not represent a significant risk.
Review Travel Credit Cards
American Express Platinum
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Chase Sapphire Preferred
Chase Sapphire Reserve
Capital One Venture X Rewards
TD First Class Visa Signature
Bank of America Travel Rewards
Capital One Venture Rewards
