Discover it Miles Credit Card (2017.6 Updated: 5k Offer!)

Discover it Miles Credit Card Review

Application Link

Features

  1. Earn 5k Miles after first purchase within 3 months. You have to use our link or you friend’s referral link to get it, the official application link has no sign-up bonus.
  2. Earn 1.5 Miles per $1 spent on all purchases. 1 Mile worth 1 cent if you redeem for travel statement credit. So it’s equivalent to 1.5% cash back on everything.
  3. Double all Miles you’ve earned at the end of your first year, including Discover Deals. In other words, this card is 3% cash back on everything for the first year.
  4. $30 credit for in-flight Wi-Fi purchases each year.
  5. There are some pretty good discounts if you shop online through Discover Deals, such as 5% cash back at Apple Store.
  6. Refer a friend: You can earn 5k for every approved account you refer, up to a maximum of 10 approved referrals (50k) per calendar year. Considering the Double Cash Back promotion in the first year, you can actually get 10k for every approved referral, and up to a maximum of 100k per calendar year!
  7. No foreign transaction fee.
  8. No annual fee.

Disadvantages

  1. The reward rate after the first year is not impressive.
  2. This is a Discover card, which is not as widely accepted as Visa or MasterCard.
  3. According to some data points, you cannot be approved for 2 Discover credit cards within 1 year. Someone also reported that Discover don’t give students 2 credit cards.
  4. The reward point is called “mile”, but don’t be fooled, it cannot be transferred to any airlines mile; instead, the “mile” can only be used to redeem for travel statement credit at 1 cent/point.

Recommended Application Time

  1. You must wait for a year before apply for a second Discover card.
  2. We recommend you apply when you have a credit history of one year.

Summary

Discover it Miles is very useful in the first year because of the 3% cash back on everything. Besides, cash back earned from Discover Deals is also doubled makes this card even better in the first year. However, after the first year, 1.5% cash back on everything is not impressive compared to Citi Double Cash (DC) which earns 2% cash back everywhere with no annual fee. On the other hand, some credit cards offer more than $500 sign-up bonus (see Top Credit Card Sign-Up Bonus), which makes Discover it Miles not as valuable in the first year as them if you do not have a lot of spending.

Historical Offers Chart

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