Miles Card from Discover® Card

Now with No Annual Fee 5,000 Bonus Miles after the First Purchase* 0% Intro APR on Purchases and Balance Transfers for 12 Months Earn 1 Mile for Every $1 Spent

Review: 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 5,000 bonus miles with their first purchase. 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.

Date of Review: 2006-04-13 00:00:00

Notes: The APR for purchases and balance transfers varies according to the applicant's credit history and may range from 3.49% to 10.49% + Prime Rate. See website for complete terms and conditions of card usage and application disclosure.

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.