Why I Open My Junk Mail… 12,000 More Miles From Discover
I always read my junk mail. You never know when you’ll get a juicy targetted offer not available to the general public. It may be extra cashback on a specific category, or just 0% APR with no balance transfer fees from a bank that usually charges fees. Besides, I have to open it to shred it anyways, and after a while you become a pro at sifting through the fine print instantly.
In this case, I got my Discover Miles card back when it was offering a 5,000 mile signup bonus. Now, it’s offering a 12,000 miles bonus over 12 months. I cashed in my bonus miles and have been happily earning 5+% interest on my borrowed free money. But for some reason, I just got a letter saying I’m getting a replacement card and I get the 12,000 miles bones offer as well. Same rules, I have to make a purchase once a month (still 0% for purchases for me, so no problem). So if you have this card, keep an eye out. 12,000 miles is worth over $75 in gift cards.
Of course, you may not agree with me and want to save some trees (though I do recycle). In that case, you can opt out of prescreened credit offers by either calling 1-888-5OPTOUT or going here. For more information visit (and proof that these sites aren’t scams), visit FTC.gov.
Find more in Credit Cards | 7/23/06, 6:32pm | Trackback
July 24th, 2006 at 7:07 am
I’ve signed up for Discover Miles card after reading your post. Thanks!
I had applied for a BT at the application time so when the card came to me, it already had all its credit limit (8K) applied towards a BT to a Citi card that I had used to pay my tuition. So I could not use this money to earn interest. I plan to pay it off in 9months.
Now I am paying about $160/mo as the minm. payment on the card and have $160 of credit available. I have not used the card for a purchase (yet) as I am afraid if I buy smthg the interest rate on my BT will jump from 0% (current) to some preposterous number. Can I use the card to make a small purchase to get the bonus miles without defaulting on some fine print somewhere? How did you resolve this?
July 24th, 2006 at 1:22 pm
drdomore - It’s good that you’re aware of that issue, but what you have to look for is that the 0% APR rate is good for both purchases and balance transfers. Many card have different ones. This card does have 0% for both, so you are all set. Be sure to note when the introductory period ends.
July 24th, 2006 at 6:42 pm
thanks jonathan!