If one of your main points of interests with a credit card is earning miles, the Discover Business Miles Card might be a great option for you. Businesses will also love the features provided through the Discover Business Miles Card, which make it easy to earn double miles with travel expenses and gas. Right away, there are a few things that will catch the eye of anyone interested in applying for the Discover Business Miles Card, including:
- Double miles earned on the first $5,000 spent in travel or gas annually
- One mile earned for every dollar spent on any other purchases
- Double miles earned when shopping through an exclusive online shopping mall
- Unrestricted travel through any online travel website, airline or travel agent
The freedom provided through the Discover Business Miles Card makes it appealing to businesses that require employees to travel and having the ability to book accommodations through any platform is a major plus. One complaint many credit card users have are the limitations to actually using the miles they earn throughout the year. Unrestricted travel options make it that much easier to get where you need to go, without the hassle.
If you are a small business and want to make use of the features of the Discover Business Miles Card, but don’t necessarily need to do a lot of traveling, there are still options for you that could make the card beneficial to own. You can redeem your miles for cash or gift cards from over 100 brand names – whether you want to purchase items for the business or personal use, this is a great option to make use of the miles you earn throughout the year. The numbers of miles you have accrued provide you a few options with redemption, including:
- Travel rewards – start at 5,000 miles
- Discover Gift Cards – start at 5,000 miles
- Partner Gift Cards – start at 1,000 miles
- Cash – start at 5,000 miles
- Charitable Donation – start at 5,000 miles
Using the Discover Business Miles Card when making purchases is simple, thanks to the fact that you can earn miles on everything – from hotel accommodations and car rentals to filling up a company vehicle with gas. You can also earn a mile for every dollar you spend anywhere else, so use the card at a business lunch or dinner or anything else you do throughout the day to accrue even more miles. There are no limits to the number of miles you can earn with the Discover Business Miles Card, so save them up or spend them as you see fit.
The miles you earn won’t expire – though it’s important to know that if the account is inactive for 18 consecutive months, closed or you don’t make a minimum payment for two consecutive billing periods, the miles will be forfeited. Anyone interested in signing up for a credit card should look closely at the terms and conditions – many of the special perks or benefits might only be available for a limited time and you want to know what to expect before submitting an application.
Important features of the Discover Business Miles Card
- APR until June 2014 is 0.0% — then the standard rate between 12.99% and 19.99% is applied. If you have large purchases to make within the next six months, the 0.0% interest rate is highly desirable; however, be aware that any purchases made after June 2014 are subject to an increase depending on your credit rating. This could mean you are eligible for the lower 12.99% — or you could end up with the 19.99%.
- Cash Advances are 23.99%
- Default Rates are up to 28.99% — another reason why you want your minimum payment to be affordable (or you can make higher payments to reduce the total amount of your debt). If you miss even one payment, you can end up ballooning from a 12.99-19.99% APR to 28.99% — which is a hefty amount of interest depending on your monthly balance.
If you are looking for a credit card without an annual fee – the Discover Business Miles Card is an ideal option. The credit card offers highly competitive rates and benefits compared to other reward credit cards, so having a zero annual fee is something that sets this card away from the others. Always read the terms and conditions for incidental fees and charges – they are usually everywhere in a banking statement, no matter which card you select. As more and more companies move account statements and billing online, you will find simple services costing money if you do anything outside of the website. For example, if you realize your online payment won’t post in time to prevent a penalty fee or increased interest rate, paying by phone will be a $10 charge. Just something to be aware of as little charges for things you might expect – such as paying a bill by phone – will add up.
If you are already a Discover Card holder, you can apply for the Business Miles Card; however, if you have a Business Card from Discover currently, you are not eligible for a second business card. Earn miles faster by signing up authorized users to the account – you can add employees to the account to rewards at a rapid rate, but always remember to keep track of spending so you don’t have an outrageous bill each month you are not prepared to pay.
One of my only issues with the Discover Business Miles Card is it’s not readily accepted the way MasterCard or Visa is at many locations, so that is something to keep in mind when shopping around. Discover Card does offer a range of user benefits including:
- Fraud Protection – specialists working 24/7
- Account Management
- Travel Benefits – rental insurance, luggage insurance, auto rental insurance and 24-hour concierge service
Overall, the Discover Business Miles Card has a list of benefits that are helpful to any business owner, especially one that uses travel or accommodations frequently. The lower interest rates and no annual fee make it a top choice when shopping for credit cards!