Well, looks like I’ve squeezed all the free money out of another credit card offer. This time it is the Miles Card by Discover. It used to have a good 12-month no-fee 0% balance transfer offer, but has recently added a balance transfer fee. However, it does offer 0% on purchases for 6 months.
In addition, this card still offers a sign-up bonus of 12,000 Miles. You get 1,000 Miles each month you make a purchase for 12 months. A mindless way to get the points is to sign the card up for automatic billing of your cell phone bill (or similar bill).
Discover Miles Redemption Options
However, the Miles you earn with this card are not affiliated with any airline. So what’s one of these special Miles worth? The wording is very vague, and not until you already have the card do you get the details. So here they are…
The most efficient way to redeem is for travel credit. You can redeem 10,000 Miles for a $100 cash credit towards any travel purchase (airfare, hotel, car rental, cruise) from any vendor or website. Now that I’ve actually done the redemption with my Hotwire purchase, I am happy to report that it was hassle-free.
You simply charge the purchase to your card, and request the credit online. The system automatically checks that you have a travel purchase, and approves the request. In a few business days the $100 shows up in your account:
The alternatives are not that great. If you travel at all, I would wait and go with the travel credit.
- Gift cards. 7,000 Miles gets you $50 gift card at stores such as Macy’s, Gap, or Shell gas stations. You can also redeem 4,000 miles for a $25 gift card.
- Cash. 5,000 Miles gets you $25 deposited into your bank account.
Double Miles & Other Promos
For most purchases, you get 1 Mile per dollar spent. The default feature of the card is that you get 2 Miles per dollar on the first $3,000 in travel and restaurant purchases each year. There is also a rotating category each month. For example, you get double miles on up to $500 in purchases at gas stations throughout June and July.
Even with the double miles here and there, this is not a top rewards card. However, you can still extract $100+ out of it with no annual fee, plus you get 0% interest for 6 months.
Here are additional credit cards with sign-up bonuses of $100 or more.