Chase CANCELS Disney Debit Card Rewards

[dallastxcpa]

I am so disappointed that they are cancelling this program. Prior to being a Chase Disney debit card holder I used the Bank of America US Airways card which earned me a flight or two every year.

Anyone have any suggestions on a good debit card program with Chase? I will need to switch mine come July.

 

[StitchesGr8Fan]

From what I understand, most of the big banks aren't going to be offering debit rewards anymore as a result of new legislation.

 

[wdwscout]

I use the Bank of America US Airways debit card and really like it.
BoA is just more convenient for me. There are no Chase Banks where I live.

Just to be clear- Chase is ONLY canceling the debit card portion of the Disney Rewards program- no changes for the credit card.

 

[TIGGERmetoo]

Are they just cancelling the DEBIT card program and leaving the CREDIT CARD reward program?

 

[*NikkiBell*]

I haven't heard anything about this. Should I get my points on the reward card quickly??

 

[StitchesGr8Fan]

It's only the debit card.

 

[sayhello]

I had heard something like this might be coming. The Fed is preparing to pass regulations that will really seriously limit the amount of profit (fees) that banks will make off of debit cards (there's a reason they only give you rewards if you swipe it like a credit card -- they charge the merchants an absolute fortune to accept debit cards that way). The rewards were a great incentive to have you use the cards as a credit card vs. using your pin. Without the huge profits, it just doesn't pay for them to offer rewards on debit cards. So far, Chase, Wells Fargo, Sun Trust and PNC have all cancelled their debit card rewards programs. Chances are pretty good most other banks will follow suit, and either eliminate or greatly cut back on their rewards programs for debit cards. This doesn't effect credit cards, just debit cards.

I'd wait a while to switch banks for your debit card, until the dust settles.

Sayhello

 

[dallastxcpa]

Chances are pretty good most other banks will follow suit, and either eliminate or greatly cut back on their rewards programs for debit cards. This doesn't effect credit cards, just debit cards.

I'd wait a while to switch banks for your debit card, until the dust settles.

Sayhello

I wasn't planning on switching banks just rewards/debit cards. We also have three other accounts with Chase that receive the Chase rewards, that program hasn't been cancelled for those debit cards just the Disney debit card program. If anyone has a suggestion of Chase debit card rewards programs they like I would love to hear.

 

[BriarRosie]

I wasn't planning on switching banks just rewards/debit cards. We also have three other accounts with Chase that receive the Chase rewards, that program hasn't been cancelled for those debit cards just the Disney debit card program. If anyone has a suggestion of Chase debit card rewards programs they like I would love to hear.

Chase canceled ALL debit rewards. I had the Chase Mileage Plus debit card. I had received the letter and got a partial refund on my yearly fee for it. My debit card is just a debit card now, no rewards at all.

 

[NonScents]

It's my understanding also that all rewards on DEBIT cards will be discontinued.
I have SunTrust Bank and mine ended last week.

 

[sayhello]

It's my understanding also that all rewards on DEBIT cards will be discontinued.
I have SunTrust Bank and mine ended last week.

Not all banks have discontinued their debit card rewards programs (*yet*). As I noted above, SunTrust is one of the banks that has, along with Chase, Wells Fargo and PNC. I'm not sure when they are effective. I thought the Chase one was as of this July...

Sayhello

 

[sayhello]

Wellp, I called Chase, and for the Disney Rewards Debit card, it will continue to earn points until June 13, 2011, at which point it becomes just a regular debit card. Anyone whose annual fee was due after the start of the year was not charged the annual fee. Anyone who paid before then was given a pro-rated refund.

You have until October, 2011 to move the points to a Rewards card. That Rewards card will be good through 2012 (I *think* he said November).

I didn't ask about any of the other debit cards they have, but I can't imagine that Chase is not getting rid of all of their Rewards Debit cards.

Sayhello

 

[DWGal210]

Well nuts! I have the debit, as I don't want another CC. I understand why but for those of us who don't want a CC, it kinda stinks.

Oh well, whatcha gonna do.

 

[kaligal]

All the banks will fall in line.

They'll likely go back to charging fees for checking accounts under certain limits, too.

We voted for it and we can vote against it (if we want.)