Miles by Discover® Card Review

Miles by Discover® Card Online Application

0% Intro APR on Purchases and Balance Transfers for 6 months.
No Annual Fee.
Book any travel, anytime with no blackout dates or restrictions.
Double Miles on up to $3,000 in travel and restaurant purchases each year.
1 Mile for every $1 on all your other purchases.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0%*	6 months*	11.99%*	None.*	0% for 6 Months*	excellent / good*

This is the Discover Card devoted to travel expenses; this not only includes car rentals, flights, vacation packages and other related purchases but the restaurant purchases made as well. You will earn 2 Miles for each of your first $3000 spent on travel and restaurants as well as $1 for every other purchase and $1 for travel and restaurant spending after the first $3000. Information on redemption will be available with the credit card itself. If you are the sort who spends a lot on travel and related expenses then this is certainly the kind of credit account you will want to look into; so long as you make the purchases with the credit card then you will be able to earn Miles that you can spend on the same kind of companies that you earned them from (travel and restaurant).

There are no annual fees on this card however there are associated late fees, overlimit fees, cash advance fees and annual rates and balance transfer fees. The late fees are calculated at $15 for any amount up to $500 and $39 for any amount exceeding that; this rate changes after the introductory offer ends December 1st 2007 to $19 for any amount up to $250 and $39 for any amount over that. The overlimit fee comes into effect when you charge more than your allocated credit on the card; fees for this are $15 for an amount up to $500 and $39 for an amount over that. If you take out a cash advance the transaction fee is 3% with a minimum of $5, and the annual rate for advances is 20.99% rising to 23.99% after December 1st.

If you make a balance transfer from another credit card then you will be charged 3% for each with a minimum payment of $10 and a maximum payment of $75. There will be no APR charged until September 2008 and after this term the amount will be subject to regular purchase APR. This card will charge APR at a rate between 10.99% and 18.99% depending on your credit rating; this introductory rate will change up to the default 30.99% if you fail to make payments on time, however.

Fees on this card can be quite excessive, however if you are able to handle payments on time and do not have need for many balance transfers or cash advances then you might benefit from the travel and restaurant Miles you can earn through spending.