Discover Miles - Best Miles Credit Card

[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]

May 2009: We were searching for a miles credit card which did not have an annual fee. Most of the airline miles credit cards from companies like United or American Airlines have an annual fee which is often waived off for the first year during promotions or special deals. Then we need to pay the annual fee else we forfeit our miles.

Our current research reveals that Discover's Miles card does not have an annual fee yet comes with great features and miles back. It has a sign-up bonus of 12000 miles (spanning over 12 months). The best thing that we like about this card is that we can book any travel through any airline, travel agent or online travel site with no blackout dates or advanced bookings. Also, we can earn unlimited miles on all purchases.

Plus there is a limited time offer of 0% APR on purchases and balance transfers. In short at present this is the best miles card available in the market now.

• Sign Up Link: Deal & Details

• Bonus
• 12,000 Bonus Miles which is equivalent to a $120 travel credit. We can earn, 1,000 Bonus Miles each calendar month we make a purchase for 12 months from the date our account is opened, with a cap of 12,000 Bonus Miles. Discover is not responsible for merchant delays in processing transactions. This promotional offer is in addition to the standard Miles earned on purchases. Promotional Miles will be applied within 8 weeks.

• No annual fee

• APR: 0% on purchases until the last day of the billing period ending during December 2009*, then the standard APR. For Balance Transfers, 0% APR until the last day of the billing period ending during November 2009.

• Travel with no Restrictions – book any travel through any airline, travel agent or online travel site with no blackout dates or advanced bookings.

• Cash Back: Earn Miles Faster – Double Miles on up to $3,000 on travel (any type of travel, from plane tickets to a hotel getaway to rental cars) and restaurant (from fast food to fine dining) purchases and 1 Mile for every $1 on all our other purchases (personal and business). Miles have no expiration date; however, if our account is closed for any reason or inactive for 18 consecutive months or if we fail to make the Minimum Payment Due by the Payment Due Date for two consecutive billing periods, our Miles will be forfeited.

• Redeem faster with more options – choose a travel credit to our account, gift cards from 50 brand-name Partners or cash.
  

• Redeem for travel credits starting at just 5,000 Miles. How?
• Book any travel through any airline, travel agent or online travel site and pay with our Miles Card. Then redeem our Miles, for every 5,000 Miles get a $50 travel credit to our account towards our travel purchases.
• Here's an example:
  Miles Available to Redeem: 11,000 Miles
  Cost for Hotel: $360
  We Redeem: 10,000 Miles
  We Get: $100 Travel Credit to our account

• Redeem our Miles for a gift card from one of Discover's 50 brand-name Partners. We can redeem 1,000 Miles for a $5 gift card, 3,500 Miles for $25, 6,000 Miles for $50 and more.

• Redeem our Miles for cash - get a $25 account credit or make an electronic deposit to our bank account with just 5,000 Miles.

• Plus, our Miles are unlimited and never expire as long as we use our card.

• Other Goodies
• Excess Collision Damage Waiver Insurance and Scheduled Air Travel Accident Insurance are underwritten by Federal Insurance Company, a member insurer of the Chubb Group of Insurance Companies of Warren, NJ. Certain restrictions and limitations apply. Refer to the Descriptions of Coverage for more complete information.
  

We will definitely go ahead and apply for this great card from Discover. Hopefully this card will help those of you searching for a FREE Miles card with a sign-up bonus (12000 miles which is equivalent to a $120 travel credit). We are looking forward towards hearing your experiences with this card. Best wishes for discovering new savings with those miles :).