Miles Card from Discover® Card
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The Miles Card from Discover® Card, issued by Morgan Stanley, is designed for those with very good credit who plan to take advantage of the travel reward program.
Through the reward program, cardholders earn one mile for every dollar spent on general purchases. Earned miles can be redeemed for airfare or reduced airfare on most major U.S. based airlines with no blackout dates. Cardholders earn 1,000 bonus miles in every month that they make a purchase during the first year of cardmembership for up to 12,000 bonus miles. There is a maximum of 60,000 miles that may be accumulated per year, but miles will not expire as long as the account is active within a 36 month period.
In addition, the card offers platinum benefits that include auto rental insurance, up to $500,000 in travel accident insurance, and various Internet account related services.
This card has an attractive 0% introductory rate for twelve months on purchases and balance transfers with no annual fee. The APR for this card is reasonably low, although it is important to note that only higher qualifying applicants will receive the lowest rate available.
Finance charges applied use the "Two Cycles Average Daily Balance" method, which is a more costly method in applying finance charges for those who occasionally carry a balance as compared to the "Average Daily Balance" method used by most card issuers.
Therefore, those who plan to take advantage of the introductory rate and the reward program will benefit most from what the Miles Card from Discover® Card has to offer. |
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Review Date: 8/1/2006 |
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| Most Attractive Feature(s): 0% introductory rate; reward program; bonus miles. |
| Least Attractive Feature(s): Uses "Two Cycles Average Daily Balance" method when determining finance charges. |
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| Additional Perks |
Various Internet account related services.
Up to $500,000 in travel accident insurance.
Auto rental insurance.
Fraud and security protection services.
See website for additional benefits. |
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| Important Notations |
The APR for purchases and balance transfers varies according to the applicant's credit history and may range from 2.74% to 9.74% + Prime Rate.
See website for complete terms and conditions of card usage and application disclosure. |
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| Note: The review on this card was updated on 8/1/2006. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application. Credit card review information is provided by CardOffers.com, Inc. |
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