NEW: Discover it Miles Credit Card

[Anonymous]

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@kdm31091 wrote:

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@Anonymous wrote:

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@09Lexie wrote:

Nixon, tsk, tsk, tsk.

As usual, I'm watching you. 

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*waves*

Trust me, We spend more than enough without having to resort to recycled spending.

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But you do constantly reference "ice cream" and "art" and admit to churning for bonuses.

Again, to each their own, but if we aren't discussing it, we aren't discussing it. No references to it, no nothing. Discuss it on a forum built to discuss it.

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Art was just today's reference after your "creative spending" remark.

And I haven't mentioned drumsticks in quite a while. I do admit to churning but in no way do it dishonestly.

[Anonymous]

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@Anonymous wrote:

so far the information I gathered from reading this thread.

1. there is a sign up bonus.

2. this card isn't for "hit it and quit it" type of sign up bonus chasers (or churners?).

3. this card is a "turd" compare to some of the "prestigious" travel cards out there.

4. this card is for low (?) spenders.

and few other gobble-gobble I skipped through.

I want to apply for this card, but I do have few hits on my EQ from the time when I first joined this forum, went app crazy, which i regret. and to maximize the bonus, i think it's better to sign up when I'm ready to use this as a main card for a whole year. I gotta say, this card is certainly better than venture one card, as no annual fee card. I think discover knows that they can never compete with some of the top rewards cards out there, so they aim low.

whoever at discover that came up with "take entire year to earn bonus" is a freakin' genius, and should get a massive raise, it'll motivate those patient people to continuously use their card at least one year to maximize their bonus. I wonder any other credit card company might follow this.

by the way, didn't they have miles card before? because i remember reading something about "miles card" on discover Q&A page last year, which made me think "they had miles card?"

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I believe they DID have a miles and more card at one point.

[kdm31091]

I think we will see issuers follow this bonus pattern because it's a smarter one for them -- no more "pump and dumps".

Essentially this card is great for a lower spender who wouldn't spend enough to achieve bonus on CSP, or justify an AF, that kind of thing.

It's better than Venture since your miles aren't devalued when you redeem for cash. They're the same no matter what.

I think they did have a Miles card in the past, but I don't know if it was the same

[yfan]

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@Anonymous wrote:

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@kdm31091 wrote:

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@yfan wrote:

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@Anonymous wrote:

It would be beneficial enough as general spend card for our purposes if no other min spend card is available (ie, we've exhausted all available options and are sitting out the 2yr period for new bonus churn)

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Except that not everyone is eagerly awaiting bonus churns, and this card is quite likely to point the industry to a direction of sign-up incentives without churn. Which I suspect is the major unsaid gripe against this card here.

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+10000

I don't sit around and wait 2 years so I can churn a card again. It's just not what I do. Others can do it, but issuers are clearly catching on and are going to make it harder and harder to do it, period. I applaud this.

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I unapplaud this.

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I popcorn this.

[longtimelurker]

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@kdm31091 wrote:

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@Anonymous wrote:

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@09Lexie wrote:

Nixon, tsk, tsk, tsk.

As usual, I'm watching you. 

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*waves*

Trust me, We spend more than enough without having to resort to recycled spending.

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But you do constantly reference "ice cream" and "art" and admit to churning for bonuses.

Again, to each their own, but if we aren't discussing it, we aren't discussing it. No references to it, no nothing. Discuss it on a forum built to discuss it.

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If it cannot be discussed, we also shouldn't use the word "admit" as that implies awareness of wrongdoing.  More like he proclaims that he is churning for bonuses!

[longtimelurker]

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@kdm31091 wrote:

I think we will see issuers follow this bonus pattern because it's a smarter one for them -- no more "pump and dumps".

Essentially this card is great for a lower spender who wouldn't spend enough to achieve bonus on CSP, or justify an AF, that kind of thing.

It's better than Venture since your miles aren't devalued when you redeem for cash. They're the same no matter what.

I think they did have a Miles card in the past, but I don't know if it was the same

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There are various scenarios where the card is good, not just low spenders.   You can use it heavily in the first year and then SD/cancel whatever    As people here say (rather too often!) the first year is like a bonus.   So you take advantage of it, you don't need to be able to churn, just move on.

And as for low spenders, yes, it makes more sense than CSP or Arrival +, but it's not at clear why Citi DC or Fidelity Amex isn't a better long-term value.   Yes, there are issues with CL and APR on DC for some, but there might be here too for all we know.

[joltdude]

Doesnt DC have a minimum required to cashout? That can be a deterrent for lighter spenders ...

Also the Fidelity Amex has to cashout to a Fidelity account or you lose.... which is a little annoying...

[Anonymous]

You really gonna cash out $.50?

[kdm31091]

That's one issue I have w/ Double Cash is the $25 redemption threshold, not a huge big deal but it is still annoying to have to have exactly 25 or more to cash out especially since it only updates once a month. It's not about cashing out 0.50, it's just the fact that if you're earned the cash back why the heck should you have to wait until an arbitrary amount to redeem it? It's just stupid to me. I'm glad Discover elminated that aspect of the It card  that I have.

Main thing with Double Cash is they don't seem willing to give out decent limits or APR, but to be fair that could easily be the case with Discover Miles too, we don't know yet.

[Anonymous]

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@Anonymous wrote:
You really gonna cash out $.50?

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I cashed out 34 cents on quicksilver one before.