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If your travel credit card isn't getting much use lately, odds are likely your card issuer took notice. Many issuers are adjusting their rewards programs to provide more benefits to consumers who aren't traveling due to the coronavirus.
Discover is the latest issuer to alter its travel card and announced today that Discover it® Miles card holders can now permanently redeem miles as a statement credit toward restaurant and gas station purchases. Customers continue to earn 1.5X miles on every dollar spent on all purchases.
"The pandemic has transformed the way customers travel and we are making changes to our travel credit card to reflect that," Meera Sridharan, VP of rewards and product strategy at Discover, said in the press release.
"The Discover it® Miles card has expanded redemption categories to be more relevant to customers who are rethinking ways to travel while continuing to provide a simple way to earn rewards on every purchase."
Previously, statement credit redemptions were limited to travel purchases. Now, the newly expanded travel credit can be applied to all eligible restaurant and gas station transactions posted on or after June 9, 2020.
In addition to redeeming miles for a statement credit, cardholders can still redeem miles for cash back into a linked bank account or to offset purchases at Amazon.com or PayPal checkouts.
Discover's change is similar to how Capital One expanded redemption options for Venture and Spark Miles cardholders through September 30, 2020 to include alternative statement credit options, such as food delivery, takeout and streaming services.
Information about the Discover it® Miles has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.