saradon
Sep 22, 11, 6:51 am
I was looking into new credit cards recently (owing to the Schwab VISA program changes) and inquired into Discover card and it looks decent, though if mileage point swaps are the main issue, I think club rewards on the Diners Club Mastercard (the other one which will be starting up again the first week of November from BMO Harris I gather) will be better for you. However:
The Discover "Escape" Diners Club card --
- Gives 25,000 miles (aka points imho) for joining now (1k/month each month you make even 1 purchase) -- better than cancels out the $60 annual fee for the first two years
- The miles are good at the rate of $100 for 10k miles for statement rebates of travel expenses (air, certain rail, hotel, taxicabs, limousines, travel agency expenses, cruises, etc.) that occur within 90 days of redemption (multiple charges ok, does not all have to be in a single charge). I was wondering, but that could reimburse entirely or in part airline lounge memberships and/or day passes if categorized correctly as 'travel charges'?
- Two miles per dollar spent (2% if redeemed for travel expenses as above)
- Primary car rental insurance up to 50k car value
- Even if used for gift cards, the value is only slightly reduced (12k for $100 value)
** Also: multiple CSRs and supervisors/TLs have confirmed to me that as of Nov 7th, Discover will be making a major change - no foreign transaction fee at all (zero percent - 0%) when used - overseas - on the diners club merchant network or the discover/diners club network here in the US/Canada. Of course, I don't have it in writing, just orally, but still -- this seems like a decent rewards program if their miles can be redeemed for good items/bonuses. And even if not, you get 0% foreign exchange and primary car rental insurance for free here for two years.
This is a bit odd -- but since the DC/Citi split in the US/Canada, and cards are defined by the merchant network, this makes U.S. Discover a 'diners club' card (the cards now have 'Diners Club International' logo on the back for identification abroad, as much as the current Diners Club is now a Mastercard with all the traditional DC Int'l programs.
Also, unless the new BMO Harris Diners MC drops the foreign exchange surcharge, discover will be a better DC that the old one - except for the Club Rewards program. All Discover cards will drop the fee, I am told, but only their 'top card' (Escape) will have the primary car rental insurance or get 2 miles per dollar earned on all charges.
From my knowledge, the DC merchant network is decent abroad, isn't it? On par with AMEX or even a bit better?
Just passing on what I found out. Please let me know if I am all wet on this. Hope this is helpful.
The Discover "Escape" Diners Club card --
- Gives 25,000 miles (aka points imho) for joining now (1k/month each month you make even 1 purchase) -- better than cancels out the $60 annual fee for the first two years
- The miles are good at the rate of $100 for 10k miles for statement rebates of travel expenses (air, certain rail, hotel, taxicabs, limousines, travel agency expenses, cruises, etc.) that occur within 90 days of redemption (multiple charges ok, does not all have to be in a single charge). I was wondering, but that could reimburse entirely or in part airline lounge memberships and/or day passes if categorized correctly as 'travel charges'?
- Two miles per dollar spent (2% if redeemed for travel expenses as above)
- Primary car rental insurance up to 50k car value
- Even if used for gift cards, the value is only slightly reduced (12k for $100 value)
** Also: multiple CSRs and supervisors/TLs have confirmed to me that as of Nov 7th, Discover will be making a major change - no foreign transaction fee at all (zero percent - 0%) when used - overseas - on the diners club merchant network or the discover/diners club network here in the US/Canada. Of course, I don't have it in writing, just orally, but still -- this seems like a decent rewards program if their miles can be redeemed for good items/bonuses. And even if not, you get 0% foreign exchange and primary car rental insurance for free here for two years.
This is a bit odd -- but since the DC/Citi split in the US/Canada, and cards are defined by the merchant network, this makes U.S. Discover a 'diners club' card (the cards now have 'Diners Club International' logo on the back for identification abroad, as much as the current Diners Club is now a Mastercard with all the traditional DC Int'l programs.
Also, unless the new BMO Harris Diners MC drops the foreign exchange surcharge, discover will be a better DC that the old one - except for the Club Rewards program. All Discover cards will drop the fee, I am told, but only their 'top card' (Escape) will have the primary car rental insurance or get 2 miles per dollar earned on all charges.
From my knowledge, the DC merchant network is decent abroad, isn't it? On par with AMEX or even a bit better?
Just passing on what I found out. Please let me know if I am all wet on this. Hope this is helpful.