Discover Launches Miles Credit Card That Is Really A Nice Cash Back Credit Card

discover-it-milesDiscover introduced yesterday the launch of the Discover It Miles Card, a no annual charge bank card that gives 1.5 “miles” per greenback charged to the cardboard.

We put the phrase “miles” in quotes as a result of the cardboard is basically a money again bank card below one other title. Right here’s the way it works:

  • Earn 1.5 miles per greenback charged to the cardboard.
  • Redeem miles for money or as an announcement credit score towards journey purchases. (You will need to make the journey purchases with the cardboard after which can use your accrued “miles” to repay all or a part of the purchases.)

Every mile is value a penny, so if in case you have 10,000 miles, you will have the equal of $100 in money or $100 towards journey purchases.

Subsequently, at 1.5 miles per greenback, this card is the equal of a money again bank card that earns 1.5% money again. This really makes it a really sturdy money again bank card, although Discover shouldn’t be advertising it as such.

As a bonus, on the finish of the primary yr solely, the entire miles you’ve earned are doubled, which means you find yourself with 3 “miles” per greenback, or the equal of three% money again for the primary yr, a really good deal.

When it comes to journey advantages, the one different function of specific observe is that you could get an annual credit score of $30 on in-flight Wi-Fi purchases.

The Discover It Miles Card follows a development of many different journey playing cards providing “miles” that actually aren’t — as a substitute they’re factors that may be transformed to money or used to repay a part of your card stability. Nothing incorrect with that, however calling them “journey” bank cards is a little bit of a stretch.

By Adam Jusko. Contact: adam@creditcardcatalog.com Twitter: twitter.com/CCCatalog