credit card??

[supergoofy]

credit card ???
kinda new here so if this needs to moved let me know

wife and i have a 6 year old and twins on the way. we got a bank one disney card and have not used it much. was wondering how you build up your points(heard for each $100 we spend we get $1) is this true?? also is there a way to double or triple our points??? and how long are they good for??? and lastly any tips on maximizing your card usage?? thanks

 

[Tinkim]

Hi supergoofy. It is indeed true that you get 1 reward dollar for each $100 you spend. I know there is a promotion right now for double points through June, I believe. Check your on-line statement to see if that promotion applies to you. In order to maximize the points I earn, I use my Disney Visa like a debit card. I have used it at the grocery store, gas pump, Wal-Mart, and to pay bills like the cable and oil bill. Anywhere I can write a check or use my debit that also accepts credit cards goes on the Disney Visa. I then subtract the amount I spent (which I would have written a check for or debit anyway) from the checking account and pay the balance each month so I do not carry a balance. I am earning on average 40-44 rewards dollars a month thus far. Hope this helps. Good luck.

**Edited to add that the points are good for five years. They are transferred to a rewards card when you are ready to use them and then they are good for one year on the card**

 

[canwegosoon]

Tinkim has a great system there, just also as a reminder, you can pay you medical bills at the DR's office (or RX) with your Disney Visa, and then use you med. rem. check to pay the bill (provided you're doing med rem.) And if you feed the babies formula, you will be on the fast track to points using your card for groceries. I remember when my twins were 4 mos old ( they had to stop Breast feeding due to an emergency surgery) and I swear they were going through $300. a month in formula alone. Lots of expenses with babies...

Supergoofy welcome to the boards and best of luck with your family and future Disney trips!!

 

[mad4themouse]

Welcome to the DISboards, supergoofy! And congratulations on the twins!

Bank One makes selective offers to cardholders based on their card usage habits. For instance, I wasn't using the card for much more than the occasional major purchase. When they came out with a double-points offer in March, some cardholders were offered doublepoints for any purchases over $500 per month. I wasn't on their list for that.

But, they did offer me double points for groceries, gasoline, cellphone, insurance and utility payments. So guess which card is being used for those purchases?

There have been times when they offered double and triple points for Disney Store purchases that exceeded a certain dollar amount. Again, the offer was extended to select cardholders and the dollar amount was based on prior spending habits. I know that a lot of people bought their park passes when that offer was made.

There are no rewards dollars for balance transfers or cash advances.

Don't use the card to make purchases if you cannot pay the balance off in full when it comes due. The interest that you'll pay will exceed the amount you get back. Bank One uses a 2-cycle billing system which basically sets you up to pay interest on any charges for 2 billing cycles everytime you fail to pay it off in full. Here's a pretty good article that explains how 2-cycle billing works to hit you up twice:
BankRate.com - Two-Cycle Billing

Some great ways to rack up the points:

• Pay all utilities you can with the card
• buy your groceries
• use it to pay all deductibles and co-pays at the hospital and Dr's office
• pharmacy charges
• diapers, formula, clothes
• gasoline, car repairs and maintenance
• rent or mortgage (not always possible)
• insurance premiums
• recurring bills like internet, magazine subscriptions, cable, gym membership

Good luck with the babies and have fun planning your WDW trip!

 

[hellow]

I second the recommendation that you MAKE SURE you don't miss paying off your balance. We have always paid off our credit card, and this month a delayed travel reimbursement from work caused me to pay all but $700 this month. (I paid the last $700 two days late). We got hit with $108 in interest charges because of the Two-cycle billing trap.

WE ARE CANCELLING OUR CARD IMMEDIATELY!

$700 carried over an extra 2 days cost us almost a year's worth of rewards. Not a good deal.

 

[hellow]

Correction to my above post. Not only do I have to pay the $108, but because my balance was not zero at the beginning of this new billing cycle (although the previous balance two days later was completely paid off) I am paying interst on any charges I make this month as well. According to my calculations (and Bankone confirmed), I will get hit with ANOTHER $50+ in interest for this month.


My current rewards balance is about $100. Not quite the deal I was hoping for.

BE CAREFUL! Don't use this card unless you are sure you have every cent to pay off the balance before the due date.

I guess I get to start from scratch working on earning extra money for another trip