Discover it Miles Card Review
Updated May 19, 2016
The Facts
The Math
This card returns impressive 3% rewards for the first year but pretty mediocre 1.5% for the subsequent years.
The Conclusion
This card is great for the first year, especially when you plan to spend a lot in your first year.
The Facts
- Annual Fee: None
- Rewards: 1.5x miles everywhere. Discover miles are worth exactly 1 cent per mile when redeemed for travel purchases, as a statement credit or deposit into your bank account.
- Signup Bonus: None. However, Discover currently matches all miles that you earn in the first year, if you open a new account. This essentially makes the card return 3x miles or 3% travel rewards on all purchases for the first year. Since we have other products (Citi Double Cash, Fidelity Visa) that return 2% cashback without annual fees, we view this matching offer as a signup bonus of 1% of your first year's spending. For example, if you spend $50,000 in your first year, you will earn en extra $500 beyond what is offered by a 2% cashback card.
- Application Landing Page
- Other Benefits: An annual $30 credit for in-flight Wi-Fi purchase. Waived foreign transaction fees. Free TransUnion FICO scores.
The Math
This card returns impressive 3% rewards for the first year but pretty mediocre 1.5% for the subsequent years.
The Conclusion
This card is great for the first year, especially when you plan to spend a lot in your first year.
