Discover Miles

Est Annual Rewards, Net
$256
of Discover Miles
 Discover Miles Credit Card
Reward RateReward DetailsAnnual Fee & PromosAPR, variableIntro APR Promotions
1.00%
  1. Earn 1 mile per $1 spent on purchases
  1. 2x on first $3,000 in travel and restaurant each year
 Fee:$0
Promo: 12,000 Discover Miles Bonus 		Min Apr: 11.99%
Max Apr:18.99%
Default: 23.99%
Cash Adv: 23.99% 		Purchase:0% for 6 mos.
Transfer:0% for 6 mos.
Card Details
  • Double Miles on travel and restaurant purchases
  • One Mile for every dollar on all other purchases
  • Flexible redemption options for travel, gift cards, or cash
  • Double Miles through our exclusive online shopping site
Finance Charge Calculator
Use the sliders to the left to calculate balance transfer interest and APR interest for this particular card.
Finance Charge, Balance Transfer*
TypeInterest
Balance Transfer Fee, 3.0%$300
Promo APR, First 6 months$0
APR, 30 months$3,579
Total$3,879
* calculations assume a balance transfer of $10,000 over 3 years.

Effective Annual Rate for Balance Transfers of 11.5% includes transfer fees and APR promotions. EAR>APR because APR is compounded monthly while EAR is compounded annually.

Effective Annual Rate, Purchases
Promo EAR, 6 months0.00%
Ongoing EAR, 30 months12.67%
Total EAR, 36 months10.45%
APR Rankings
APR 11.99% ranks # 60 out of 313 cards. Average is 13.66%.
Balance Transfer Fee 3% ranks # 46 out of 305 cards. Average is 3%.
Cash Advance APR 23.99% ranks # 148 out of 304 cards. Average is 22.19%.

Rewards Rankings
Annual Fee $0 ranks # 1 out of 322 cards. Average is $19.
Base Reward Rate 1% ranks # 24 out of 248 cards. Average is 0.95%.
Effective Reward Rate 1% ranks # 60 out of 248 cards. Average is 1.04%.
Sign-up Bonus $120 ranks # 37 out of 317 cards. Average is $35.

Rewards Type: Discover Miles
Signing Promotion
($120=12,000 points)/3 yrs 		$40
Estimated Annual Rewards
$21,600 * 1.00% 		$216
Annual Fee, 3 yr avg
 $0
Annual Rewards (Rewards less Fees) $256

NerdWallet's Review

Discover Miles offers rewards for every purchase you make and is an all purpose miles program, redeemable on any airline, travel agent, or travel website. You earn a 2% reward rate on travel and restaurant expenses up to $3,000 per year. In addition, you can earn an additional 1,000 points each month you make a purchase (for the first year).  Miles by Discover offers 0% APR for the first six months, and a regular 11.99% APR from then on. A 25 day grace period is also offered and no annual fees.

Additional Benefits:
Discover makes an effort to educate consumers, providing financial education resources designed to help the consumer budget wisely, Discover’s Financial Fundamentals from the company’s home page. Additional benefits include free alerts for cardholders when you’re nearing your credit limit or if a bill payment is approaching.

2 Responses to “Discover Miles”

  1. D Hodsdon says:
    February 28, 2010 at 9:51 am

    On what airlines can the Discover miles be used? What is the Discover card link describing their airline awards feature?

  2. Tim says:
    February 28, 2010 at 10:05 am

    You can use the miles on any airline! There are no restrictions on how you use the miles, since you are effectively redeeming them for cash, and using that cash for travel.

    Check out our conversation thread on the Escape page for more information, or read the FAQs at Discover’s site.

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