Discover It Miles Credit Card Review 2020

Rating:
4.2/5
4.2 stars out of 5

The Smart Investor has collected card information independently. Issuers did not provide the details, nor are they responsible for their accuracy. The review is not a recommendation, the actual rates/fees may be different.

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.

They offer an unlimited 1.5x miles for each dollar you spend on purchases. There are no specified purchases so, this applies to ALL, and another great benefit – there is no annual fee. Also, Discover will match your points earned in the first 12 months of opening an account.

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.

When you sign up, discover will offer you an excellent sign-up bonus of matching all of the miles you earn by the end of the year. 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…

Discover It Miles Credit Card

On Discover Secure Website

Our Bottom Line

  • Not Only For Occasional Travelers

Credit Rating Requirements

  • Good – Excellent

PROS

  • Earn 1.5 miles on Every Dollar You Spend
  • Flexible Redemption Options

CONS

  • Good Credit for Approval
  • Requires Very Good

Highlights

  • No Blackout Dates
  • No annual / foreign fees
  • 14.24% – 25.24% Variable APR
  • Redeem points towards travel or as cash back
  • Free access to your FICO score, Free social security monitoring

Here’s a summary of the main pros & cons (click to see explanation or scroll down):

Pros

Cons

Discover It Miles Card – 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:

  • Earn 1.5 miles on Every Dollar You Spend

The Discover it® Miles card earns you a flat rate of 1.5 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.

  • Discover Matches the Miles You Earn in Your First Year

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.

  • 14 Months 0% APR On Purchases

Discover incentivizes you to switch to the Discover It Balance Transfer credit card by offering a very attractive intro offer which includes 0% on purchases for 14 months. 

This means you can take your time paying off new purchases, interest-free.

  • 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 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.

  • 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.

Discover It Miles Card – Drawbacks

  • Not the Highest Rewards Rate as a Travel Credit Card

While earning 1.5 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.

  • No 0% APR Balance Transfer Intro , High Transfer Fee

The Discover It Miles card does have a intro balance transfer fee of 3% and 5% ongoing transfer fee. In addition, there is no 0% intro APR on 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.

  • You’ll Need Good – Excellent Credit For Approval

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.

Alternatives to Discover It Miles Card

There are several other travel-focused credit cards that offer higher travel reward rates and bonuses when signing up. Let’s take a look at them and see if one is better suited for you than the Discover It Miles credit card.

Bank of America Travel Rewards Credit Card is a straightforward rewards card that doesn’t shift spending categories for higher bonuses, offers flexibility with its travel rewards and simplicity for those who don’t want to jump through hoops in order to earn or spend their rewards.

It offers unlimited 1.5 points for every $1 spent on all purchases and 0% intro APR on purchases for 12 months. The card has no annual fee. Then 14.99% to 22.99% Standard Variable Purchase APR and 3% balance transfer fee.

In addition, you get 25,000 bonus points after spending $1,000 in the first 3 months of opening the card.

The Chase Sapphire Credit card is in their top spot in regards to the best traveling and dining cards as they offer you 2X more points compared to other cards. In addition, Chase Bank offers a 25% point’s bonus, whenever you redeem the points for travel.

The card offers a sign-up bonus of 60,000 points when you spend more than $4,000 on any purchases in the first 90 days. This is equivalent to $750 in travel costs when you redeem your travel rewards.

You shall also earn 2x points while traveling and dining at a variety of restaurants around the world and one point on the dollar on any other purchases. If you use any Lyft rides from now up to March 2022, you shall earn 5X points.

However, with all of these rewards, you should note that the card has an annual fee of $95. The APR range between 15.99%–22.99%, depends on your credit worthiness. 

The Discover It Cashback card is also an alternative credit card to the American Express Blue Cash Preferred.

The Discover It Cash Back credit card is a great option for someone who wants access to 5% cash back rewards on rotating spending categories each quarter and unlimited 1% cash back on all other purchases.

It also offers 14 months 0% APR intro period on purchases and balance transfers for  giving you time to pay off your balance without interest. Then 11.99% to 22.99% Standard Variable Purchase APR and 5% balance transfer fee.

The discover cash back card  does not come with an annual fee.

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.