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Home > No Annual Fee > Miles by Discover Card
Miles by Discover Card
Book any travel, anytime with no blackout dates or restrictions
Double Miles on up to $3,000 in travel and restaurant purchases each year
1 Mile for every $1 on all your other purchases
Unlimited Miles that never expire as long as you use your card
Redeem for travel credits to your account, gift cards from any of our 80 brand-name Partners or cash starting at just 5,000 Miles
No Annual Fee
Online Account Access
Online Bill Payment
Complete Fraud Protection for Your Peace of Mind
$0 Fraud Liability Guarantee
Advanced fraud early warning alerts
Secure online account numbers
Fraud specialists dedicated to helping you 24/7
Customer Service That Puts You First
One call, we take care of it
Talk to a knowledgeable person in less than a minute
Easy online Account options that put you in control
Timely e-mails to help you avoid fees
Let your everyday purchases take you where you want to go with the Miles by Discover® Card and Travel with no Restrictions - book any travel through any airline, travel agent or online travel site with no blackout dates or advanced bookings.
Earn Miles Faster - Double Miles on up to $3,000 on travel and restaurant purchases and 1 Mile for every $1 on all your other purchases.
Redeem faster with more options - choose a travel credit to your account, gift cards from 80 brand-name Partners or cash.
Plus, receive 12,000 Bonus Miles* and enjoy 0% Intro APR*. APPLY NOW!
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DID YOU KNOW?
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While the average American household has acquired approximately $8,000 in consumer debt, many people have achieved the dream of living debt free. Reducing and eliminating your debt does not happen overnight. However, if you outline a realistic plan for reducing debt, you can become debt free in a few years.
Establish a Plan for Reducing Debt
Before achieving your goal, you must outline a detail plan for eliminating debt. To begin, gather all your credit accounts and unpaid bills. It is important to have an accurate debt amount. Individuals who earn a huge salary may be able to eliminate their debts by simply cutting expenses.
Record your monthly income and make a list of your monthly expenses Determine how much income remains after your have paid your bills for the month. This amount is your disposable income. Instead of frivolously spending this income, use the extra money to payoff your credit card balances.
If you do not have the extra income to payoff your debts, there are other options available to you.
Apply for a Debt Consolidation Loan to Reduce Debts
Applying for a debt consolidation loan to reduce your debts is a great way to eliminate high interest consumer debts. While a debt consolidated loan will not immediately erase your debts, these loans have short terms and low rates, which allow you to payoff your personal debts in less time.
There are three ways to acquire funds to consolidate debts. For starters, you can attempt to apply for a personal debt consolidation loan. Depending on the financial institution, you will need collateral or an excellent credit score.
Homeowners may apply for a home equity loan or line of credit. The funds received from the loan or line of credit may be used to payoff or reduce other high interest consumer debts. Be careful when accepting these types of consolidation loans. Home equity loans and lines of credit are protected by your home’s equity. With this said, the lender may foreclose your house if you do not repay the loan.
Debt Management and Consumer Credit Counseling Services
Another method for reducing debt involves establishing a relationship with a debt management or credit counseling service. These services will help you reduce debt and improve your credit rating by contacting your creditors and establishing better terms and rates on your credit cards and loans. |
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The things which contribute to price levels and action in the financial markets are numerous and diverse, and their influences can vary through time, and across different markets. This article identifies the different types of Economic Data influences and the role they play.
There are two ways economic information can influence prices. The first is in the macro sense. Macroeconomic inputs include:
Interest RatesEconomic Growth (GDP)Government Budget Surpluses/DeficitsTrade BalancesCommodity PricesRelative Currency Exchanges RatesInflationCorporate Earnings (both for individual companies and the broad collection)
These elements will generally all have long-term inputs in to the pricing of any given market. They do not tend to move in sharp, dramatic fashion, so their influences also tend to be seen over longer periods of time.
That said, the release of economic data related to the above can be seen to have serious impact in the short-term activity in the markets. This comes primarily in the form of data releases. Some of the most important are:
- Employment Data
- Trade Data
- GDP growth figures
- Consumer & Producer Inflation rates
- Retail and Wholesale Sales
- Confidence & Sentiment Readings (U. Michigan survey, etc.)
- Income & Spending
- Production
- Interest Rate policy decisions
- Earnings releases
The markets can react in very, very dramatic fashion to these releases when they are out of line with expectations. The foreign exchange market, namely the EUR/USD exchange rate, provides a striking example.
On one Friday morning at 8:30 Eastern the monthly Non-Farm Payrolls report hit the wires. This report (released on the first Friday of each month) probably provides the most short-term volatility across all market sectors of any regular economic release. When the data comes in well off of market expectations, fireworks can ensue, as was the case in the example. Over the course of about 2-3 minutes EUR/USD fell more than 20 pips, turned around and rose about 60 pips, then fell back down to near where it had been before the data was announced (a pip being 1/10,000 of a Dollar). It then proceeded to run nearly 100 pips higher in fairly steady fashion over the course of the next hour.
Here is another example, this time of T-Bond futures.
When those payroll figures were released at 8:30 the market dropped more than two full points. One point on the T-Bond futures contract is worth $1000, so each contract fell more than $2000 in about two minutes. Consider that the margin on a contract at the time was probably around $2500. That means a trader could have lost more than 80% on the trade in the blink of an eye.
It is also important to understand that in the futures pits such data events often result in fast market conditions. This means that the action is so hectic that there may literally be trading going on at several different prices in different parts of the pit. This is a risk of having open positions at the time of a major news release. The market may snap back fairly quickly, as in the chart above, but in the meantime the trader’s positions may have been liquidated on a stop order at a substantial loss.
Fortunately, all major economic releases are well documented. They are done on a pre-announced calendar which is readily available on any number of web sites, and of course in the business news media. In the vast majority of cases, one can also find out ahead of time from any number of sources what the expectations are for the release.
Foreknowledge of pending data events may not prevent losses which may result from unexpected figures. It will, however, allow the trader to recognize and understand when risks are increased. Make sure, especially if you are a short-term trader, to know what data is coming out. It can make a difference in your performance.
Copyright 2007, CreditDexter. All rights reserved!
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