Published on June 1st, 2017 | by William Charles7
Discover Now Allowing Product Changes From Discover it Miles to Discover it 5% Cards
Discover offers two primary credit cards: Discover it & Discover it Miles (and variations such as Discover it Secured). It has been possible to do a product change from the regular Discover it card to the Discover it Miles card since February of this year, that isn’t particularly useful though as after the first year the Discover it Miles card isn’t that attractive (1.5% on all purchases, doubled at the end of the first year).
It’s now possible to do a product change from the Discover it Miles card to the regular Discover it card that earns 5% in rotating categories. This is much more attractive as you earn 5% cash back on categories that change quarterly (with a spending cap of $1,500). This means you can get the Discover it Miles to earn 3% the first year and then product change it to the Discover it card to get 5% cash back thereafter in those rotating categories.
It’s not possible to do a product change until you’re no longer enrolled in the Discover Cashback Match program (meaning you need to wait one year to complete the product change). You can view a full list of product change/downgrade options & rules for each card issuer by clicking here. It’s also worth remembering that you’re limited to a total of two Discover credit cards and you need to have your first card for twelve months before you’re eligible for a second card.
Hat tip to Yoel B