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NEW: Discover it Miles Credit Card

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B335is
Moderator Emeritus

Re: NEW: Discover it Miles Credit Card


@kdm31091 wrote:

@B335is wrote:
You'd need to put at least $30k spend on this thing to beat Arrival+ for the first year.

This card is not competing with Arrival+ IMO. This is not an AF card for a big spender. This is a no AF card for a less frequent traveller. Different strokes for different folks.

 

That's apples to oranges, though, that particular comparison. At most, you need to compare it to the plain Arrival card.


Then Discover shouldn't market it as a Miles card. But whatever helps you justify how exceptional Discovers new turd, I mean card is Smiley Tongue

Message 131 of 488
yfan
Valued Contributor

Re: NEW: Discover it Miles Credit Card


@Anonymous wrote:

Eh, yes and no. With this I have to put $1,333,334 in general spend just to get $20K bonus and another $20K at the end of a year.


Right, which is exactly the point - except I'm a little confused as to when 40K became THE standard for bonuses. Discover is doing something with bonuses that is designed to help achieve the bank's goal for bonuses. As much as you like them, banks design them for a purpose: that purpose is to build a habit of the user to use that card as much as possible, as their default card if at all possible. Not having a high straight bonus but to allow double points for the first year does exactly that.

 

From their standpoint, what Discover is doing is very smart: they are discouraging churning even while offering an incentive to get and use the card. My guess is that other card issuers will follow this road to make churning a moot issue.

 

Your math is wrong btw. To earn 40K miles with a 3x per dollar spend, it would take $13,333.34 of spend, not $1,333,334. It would, however, take 1,333,334 CENTS of spend.

Message 132 of 488
14Fiesta
Established Contributor

Re: NEW: Discover it Miles Credit Card


@Anonymous wrote:

It may be a bonus but imho its a very weak one.  By the time you spend enough to equal the bonus on a CSP for example, you could get 3 more cards with similar spend requirements and get a LOT more out of them


You would get alot more out of that strategy....alot more INQs and hits to AAoA with new accounts. And if you abandon the CSP after you get the bonus in order to go after the other cards...well, was it really worth the spend effort, taking a HP and a blow to your AAoA just to stop using the card after a month?






EX FICO (AMEX): 728 (4/29/17) | TU FICO (Discover): 737 (4/7/17) | EQ FICO (Citi): 746 (3/28/17)
Message 133 of 488
Anonymous
Not applicable

Re: NEW: Discover it Miles Credit Card


@kdm31091 wrote:

@Anonymous wrote:

It may be a bonus but imho its a very weak one.  By the time you spend enough to equal the bonus on a CSP for example, you could get 3 more cards with similar spend requirements and get a LOT more out of them


It's a weak one for someone like you who ostensibly travels constantly, has a large income, and large spending patterns.

 

It's not so weak for someone who would not normally spend enough to achieve the CSP bonus. I'll take what I can get.


Guess you're right and I'm  not trying to discourage people from getting the card but they need to know that is in no way compares to the better travel cards out there.

Message 134 of 488
IWOL
Established Contributor

Re: NEW: Discover it Miles Credit Card

I just applied for the card and was approved but dont know the limit.

 

My EQ score was 708, 2 inquiries.

 

I like the idea of the double points for the first year. Will have to take away my general non-cat spend from Arrival and Fidelity Amex for a while.

 

The way I see it if I can put 50K of genral spend fist year its like getting a sign up bonus of 75,000 miles. After the first year I probably wouldnt use it much.


Message 135 of 488
odd_dog
Valued Contributor

Re: NEW: Discover it Miles Credit Card

applied, DENIED, and according to my "Discover" credit score (LOL) I am at 823   oh well....

Message 136 of 488
kdm31091
Super Contributor

Re: NEW: Discover it Miles Credit Card

If you're not interested in it, don't apply for it. There are plenty of cards that don't make sense for lower spenders, like the CSP. It doesn't make this one a turd.

 

Not every card appeals to every person, that's why there are so many on the market. I could call the CSP a turd because it would be useless for me, but I don't.

Message 137 of 488
Anonymous
Not applicable

Re: NEW: Discover it Miles Credit Card


@B335is wrote:

@kdm31091 wrote:

@B335is wrote:
You'd need to put at least $30k spend on this thing to beat Arrival+ for the first year.

This card is not competing with Arrival+ IMO. This is not an AF card for a big spender. This is a no AF card for a less frequent traveller. Different strokes for different folks.

 

That's apples to oranges, though, that particular comparison. At most, you need to compare it to the plain Arrival card.


Then Discover shouldn't market it as a Miles card. But whatever helps you justify how exceptional Discovers new turd, I mean card is Smiley Tongue


@Anonymous @ Turd.

Message 138 of 488
Anonymous
Not applicable

Re: NEW: Discover it Miles Credit Card


@kdm31091 wrote:

For the probably fifth and final time,

 

THIS CARD HAS A SIGN UP BONUS

 

It is not a usual bonus, but it is still a bonus. It's not a churn bonus, it's not a bonus you "creatively spend" to get, it's a true blue bonus for those who are going to use the card for a year. Discover is being smart and rewarding those who truly want the card and not those who are just trying to milk them. I'm not trying to turn this into a debate about that type of behavior, but to say this card has no sign up bonus is completely erroneous. Doubling your miles at the end of the year is a bonus. It's not an instant bonus, but it's a bonus, and a good one at that because you can have as much of a bonus as you want -- it's tiered to your spend instead of a flat amount.

 

For those who are not big spenders, or into "creative" methods of spending to get bonuses, this is a much more fair bonus as it doesn't force you to spend x amount in x amount of time.


By this logic, the Citi Double Cash also has a signup bonus.

Message 139 of 488
kdm31091
Super Contributor

Re: NEW: Discover it Miles Credit Card


@Anonymous wrote:

@kdm31091 wrote:

@Anonymous wrote:

It may be a bonus but imho its a very weak one.  By the time you spend enough to equal the bonus on a CSP for example, you could get 3 more cards with similar spend requirements and get a LOT more out of them


It's a weak one for someone like you who ostensibly travels constantly, has a large income, and large spending patterns.

 

It's not so weak for someone who would not normally spend enough to achieve the CSP bonus. I'll take what I can get.


Guess you're right and I'm  not trying to discourage people from getting the card but they need to know that is in no way compares to the better travel cards out there.


How does it not compare to the better travel cards? The "better travel cards" of which you speak all have AF's, so again, it's not the same thing.

 

CSP etc = better for frequent travellers and high spender

 

Discover Miles = better for an all purpose card w/ some travel, 1.5% miles that are converted to cash at full value

 

Message 140 of 488
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