Update: I was also targeted for a 10,000 mile offer (after spending $1,500 by 2/28/13) for converting our Discover More to Discover Miles (despite already having a Discover Miles card). Details can be seen at discover.com/10kmiles.
For those with an existing Discover Card, now may be a time to consider switching over to the Discover Miles card. Discover is encouraging people to make the switch to Discover Miles by offering a 20,000 miles bonus after spending $2,500 on the new card by February 28, 2013.
This 20,000 mile offer is the best offer that I am aware of for the Discover Miles and better than what I can offer through the affiliate channels. There is no telling how long this promotion will last, but one could potentially open up a new Discover More card, then convert it to the Discover Miles card once received. This could be a better play than just opening up a Discover Miles card directly.
Terms:
*After your conversion to the Miles by Discover® card is complete, you can earn 20,000 Bonus Miles after you make a total of at least $2,500 in purchases by February 28, 2013. If you fail to make $2,500 in purchases in that time period, or make a return that brings your total amount spent below $2,500, you will not qualify for this promotion and will not earn the Bonus Miles. Discover is not responsible for merchant delays in processing transactions. Please allow up to two billing periods after the end of the promotional period for the Bonus Miles to be added to your Miles account.
Is it worth converting to Discover Mile?
I think this is an excellent play to be able to take advantage of earning 20,000 miles. However, keep in mind, Discover Miles are only redeemable with Discover (i.e. they can not be converted to other airline miles or reward programs). Therefore, 20,000 miles can be used towards $200 in redemption on anything categorized under travel. So if you book a flight or hotel, you can apply the 20,000 miles towards the bill within 90 days. So it is a nice $200 rebate.
One will also earn 2,500 miles from the spend, but unfortunately, you can not redeem them for travel rebates until you reach 10,000 miles.
Where the real windfall comes from converting the Discover More card to Discover Miles is losing the ability to earn 5% cashback throughout the year in select categories. For example, from October to December, one can earn 5% cashback on all department store and online purchases, up to $1,500 in total spend with the Discover More card. This far exceeds the double miles one can sometimes receive on rotating categories with the Discover Miles card.
So would I do it? Well for starters, we already carry both the Discover More and Discover Miles cards. Howver, if I only had the Discover More card, I may consider switching it over until I meet the 20,000 bonus ($2,500 spend), then redeem my miles, and possibly switch it back to Discover More to have the 5% rotating categories at my disposal.
Ultimately, only you can decide what would work out best for your family. Some may find they like earning miles that earn towards a goal (10,000 miles) towards redemption, whereas others may like the flexibility and benefits of the cashback option.
Save Money, Travel More!
I do receive a commission if you are approved for the Discover More card, but not for the conversion to the Discover Miles card. If you choose to use our links, thank you!
On my Discover More card I have $641 cash back bonus accrued. Would that change into miles if I switch to Discover Miles?
@Lively: Discover has notified me that if you have existing cashback, and convert the card over to Discover Miles, your balance will convert into miles. Therefore, your $641 should convert to 64,100 miles before the 20,000 bonus after spending $2,500. Thanks for your comment!
One last question on the conversion from More to Miles: I see there’s another promotion with the Miles card that says if you get the card you will receive 1,000 miles per month for making one purchase per month for the first year. Here’s the link:
https://www.discover.com/credit-cards/get-discover/miles-card/
My question is…are the 2 offers stackable get 20K upon conversion and then get the 1K per month for 12 months for one purchase each month?
Thanks for all your help.
@Lively: That offer is for new Discover Miles cards, and is earned over the course of a year. The 20,000 bonus is for conversions and earned as fast as you can spend $2,500. They are two totally separate promotions and unfortunately will not be able to be stacked as far as I can tell.
Is this a targeted email? When I log in, the promo landing page changes to a “Change Rewards Program” page and allows me to choose any of Discover’s cards. I currently have the Discover More card.
Also, will there be a credit report pull on the change?
@Richard: I can not say for sure if it is targeted or not, as it takes me to the same page to choose which card I want, despite already having the Miles card. When I talked with Discover earlier today, they mentioned nothing about it being targeted and actually offered to switch me over (without knowing I already had it). Therefore, if nothing shows online, one might have better luck converting for this offer by calling in.
As for the credit pull, I have not scene any evidence to support whether others have had their reports pulled. Again, by calling Discover they may be able to answer this for you. I would hope they would not pull again considering it’s just a transfer. Thanks for your questions.