Discover 25,000 Bonus Miles

by Madison

Happy Free Money Friday! Lots of you have sent me ideas for free money and they are great. I’m checking them all out and will be featuring some great reader finds soon.

Today Discover is offering a 25,000 bonus miles for the new Escape by Discover Card.

How to Get Your Bonus Miles

  1. Open a new Escape by Discover Card.
  2. Earn 1,000 bonus miles by making one purchase each month for the first 25 months.
  3. Redeem your bonus miles for any airline, cruise, hotel stay, car rental, or gift cards to 90 different retailers.
  4. Promotional miles will be applied within 8 weeks.

More About the Miles

Annual Fee. There is a $60 annual fee. However, if you earn 25,000 miles over 2 years, your $120 investment will more than pay for itself.

Extra Miles. In addition to the bonus miles, you earn 2 miles for each dollar you spend on all purchases.

Miles Never Expire. The miles never expire, so you don’t have to worry about redeeming them right away.

Do the Math

Update: I received a question about redemption, so I thought the following information would help:

I verified with Discover that 10,000 miles can be redeemed for a $100 credit for any travel purchase. For example, if you make $10 in purchases each month for 20 months, you’ll end up with 20,400 miles. Redeeming those for $200 in travel credit will cost you $120 for 2 years of annual fees. You’ll net $80, or almost 40% back on your purchases.

Apply for the Escape by Discover Card

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Posted February 13, 2009 in Credit cards by Madison | Comment
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Comments to Discover 25,000 Bonus Miles

  1. 5,000 miles gets you a $25 account credit. 25k/5k*$25 means you’ll make $125 in actual cash for the $120 you spend in fees…

    Rassah
    February 13th, 2009 at 5:10 pm

  2. @ Rassah: The key is to use the miles for travel, if you redeem it for cash, the value isn’t as high.

    I verified with Discover that 10,000 miles can be redeemed for a $100 credit for any travel purchase.

    For example, if you make $10 in purchases each month for 20 months, you’ll end up with 20,400 miles. Redeeming those for $200 in travel credit will cost you $120 for 2 years of annual fees.

    You’ll net $80, or almost 40% back on your purchases.

    I’ll update the post with this information to make it more clear.

    Madison
    February 13th, 2009 at 8:15 pm
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