Credit cards and DVC

[rutgers1]

My parents stopped by today for dinner and we were all talking about our various credit cards and what, if any, benefits they offered. On a whim, my father said, "My credit card can get airplane tickets, do you want them?" Since he doesn't fly, I accepted instantly. Within a half hour, 2 of our 4 tickets for August were paid for. Then, my wife said, "We are supposed to get 1% back on our card, and I am not sure how we are supposed to get it." So I called the company and found out that we have earned $750, which will be applied to our next balance. So, a half hour later, we bought the rest of the tickets for our trip.

I normally HATE credit cards, but in this case, they worked out to my benefit....which got me to thinking about the Disney card. Is there really an advantage to having it over a card that gives 1% back or a card where you can earn air miles? I only looked at the perks briefly, but it didn't seem like it was worth it. I remember reading about a discount for Disney Broadway shows, but then I found out that any DVC member can get the same discount, and then I later found out that just about anyone could get the discount.

Do YOU have the Disney card? If so, why did you get it?

For those who don't have that card, or those who spend mainly on another card, which one(s) do you have?

Airfare is the one thing that is killing me when it comes to going on vacation. I would love to do something that pays for my airfare.

 

[Dis13]

I just received the following notice from Chase:

"In response to current market conditions, we are making some changes to the terms on your credit account".... the APR for my Disney Rewards Card was just increased arbitrarily from 10.15% to 14.99%. I always pay on time and have excellent credit.

Chase also added a $10 monthly service charge to my husband's card, which is also always paid on time. He has excellent credit as well. The $10 service charge will be applied even if there is a 0 balance, which leaves us no choice but to cancel the card.

I would avoid any credit cards issued by Chase, including the Disney Rewards card.

 

[dcfromva]

Chase also added a $10 monthly service charge to my husband's card, which is also always paid on time. He has excellent credit as well. The $10 service charge will be applied even if there is a 0 balance, which leaves us no choice but to cancel the card.

What is the "service" charge for?

 

[dandave]

I'm far from a CC guru, but I advise no one to carry a balance on a Disney Visa. I have been in the situation where I paid the full balance, and then was charged interest on the full balance because a new item was charged in the interim. I don't pretent to understand the Disney Visa "Disney Math", but I'll recommend the card to no one who plans to carry a balance. Minus 1%, plus 9% is still plus 8%.

 

[Tozzie]

I just received the following notice from Chase:

"In response to current market conditions, we are making some changes to the terms on your credit account".... the APR for my Disney Rewards Card was just increased arbitrarily from 10.15% to 14.99%. I always pay on time and have excellent credit.

Chase also added a $10 monthly service charge to my husband's card, which is also always paid on time. He has excellent credit as well. The $10 service charge will be applied even if there is a 0 balance, which leaves us no choice but to cancel the card.

I would avoid any credit cards issued by Chase, including the Disney Rewards card.

Credit cards have always arbitrarily increased and decreased interest rates, not just Chase, if you really want to talk about horrible credit cards Capital one comes to mind.

I have had a Disney rewards card since its inception. I don't carry balances at all so I don't pay attention to the interest rates. I don't know if one card is better over the other in terms of what you earn back from them. I also think it depends on what you are looking for or will use the rewards for.

You basically earn $1 rewards dollar for every $100 you spend you earn more if you buy a disney vacation or DVC with the card and there are some discounts on shopping and such. I know in California you get free stroller rentals if you have a Disney Visa.

I usually redeem my rewards when I am going to disney, you order a rewards card and tranfer the rewards dollars to it and then you can use it like a credit card at a lot of locations at Disney world. For example I am going in march for my sisters birthday and want to take her out to a really nice dinner well I am going to use rewards dollars to pay for it.

I will have over $400 to spend in March which is basically found money as far as I am concerned.

 

[Tozzie]

I'm far from a CC guru, but I advise no one to carry a balance on a Disney Visa. I have been in the situation where I paid the full balance, and then was charged interest on the full balance because a new item was charged in the interim. I don't pretent to understand the Disney Visa "Disney Math", but I'll recommend the card to no one who plans to carry a balance. Minus 1%, plus 9% is still plus 8%.

Chase isn't the only card to do that either I had that done to me with several cards that I paid off, infact nothing was charged to the cards, but for the time from billing until they recieved payment a balance was carried and interest was charged to that amount. I am not a staunch chase supporter but all credit cards have dubious practices not only chase.

 

[dandave]

Tozzie, Hi! I believe you, but I'm just a newbie to that kind of practice. I found it offensive. When I travel, especially to Europe, I prefer to use a CC for the Concierge Services. I pay off the bill when it comes, but there may be some lingering charge of which I am unaware.
I was also confronted by a CC that charged me fees because I had a credit on their card. Apparently it was causing them accounting fees. I cancelled that card.
IMHO, it shouldn't be this difficult to pay your bills, without having to "take one".

 

[Inkmahm]

I just received the following notice from Chase:

"In response to current market conditions, we are making some changes to the terms on your credit account".... the APR for my Disney Rewards Card was just increased arbitrarily from 10.15% to 14.99%. I always pay on time and have excellent credit.

Chase also added a $10 monthly service charge to my husband's card, which is also always paid on time. He has excellent credit as well. The $10 service charge will be applied even if there is a 0 balance, which leaves us no choice but to cancel the card.

I would avoid any credit cards issued by Chase, including the Disney Rewards card.

A $10 per month charge for a Disney card whether you use it or not? Doesn't sound right to me. Are you sure you read the notice correctly?

 

[Inkmahm]

Do YOU have the Disney card? If so, why did you get it?

For those who don't have that card, or those who spend mainly on another card, which one(s) do you have?

Airfare is the one thing that is killing me when it comes to going on vacation. I would love to do something that pays for my airfare.

We joke about CCs as actually being "discount cards" as that is how we use them. We have Disney Visa as well as American express blue cash back. I use American express more because I get 1 1/2 % on all purchases and 5% on food, gas, etc. purchases in the form of cash back once per year after spending $6k or so first. The Disney card is a straight 1% back except they keep sending deals for the 1% to go to 5% on certain categories for different 3 month periods. We use the Disney Visa during those "specials."

I have no idea what the interest rates are on any of my cards because we always pay the balance in full each month and never ever pay interest.

 

[AnnaS]

I just received the following notice from Chase:

"In response to current market conditions, we are making some changes to the terms on your credit account".... the APR for my Disney Rewards Card was just increased arbitrarily from 10.15% to 14.99%. I always pay on time and have excellent credit.

Chase also added a $10 monthly service charge to my husband's card, which is also always paid on time. He has excellent credit as well. The $10 service charge will be applied even if there is a 0 balance, which leaves us no choice but to cancel the card.

I would avoid any credit cards issued by Chase, including the Disney Rewards card.

Was this directly on the bill or in one of their inserts? I really need to start reading the inserts before tossing them out. We never carry a balance so I don't pay attention. Curious about the $10 charge. I don't even know what the interest rate charged is.

I should be getting the actual paper statement in the mail anyday - will need to look. I don't usually send even that in. We have a chase two blocks away and I go at least twice a month to make my payments.

 

[Dis13]

A $10 per month charge for a Disney card whether you use it or not? Doesn't sound right to me. Are you sure you read the notice correctly?

This was an insert to the November 2008 billing statement. I did a Google search and there are a lot of people receiving this notice. They also raised the minimum payment from 2% of the balance to 5%. More than double the amount. If you have a small balance, not a big deal, but if you're carrying over $10K, it is substantial.

From the "Important Notice Regarding Changes to Your Account" flyer:

"Account Service Charge: Your account has a service charge, which will be billed monthly.... This charge is owed whether or not you use your account, and you agree to pay it when billed."

Citibank also sent an insert in November stating that they can raise the interest rate at any time.

 

[Dis13]

A $10 per month charge for a Disney card whether you use it or not? Doesn't sound right to me. Are you sure you read the notice correctly?

The $10 Account Service Charge was added to DH's Chase Travel Rewards card. My Disney Rewards card had the arbitrary interest rate increase. Not sure if the minimum payment % increased. I'm going to call them today.

 

[Inkmahm]

The $10 Account Service Charge was added to DH's Chase Travel Rewards card. My Disney Rewards card had the arbitrary interest rate increase. Not sure if the minimum payment % increased. I'm going to call them today.

Thanks for the clarification. I misread and thought it was the Disney Visa card that had the $10 service fee added.

I think interest rates change all the time on quite a few credit cards. Truthfully, since I never carry a balance from month to month, I don't pay attention to any credit card interest rates. They don't affect me so they aren't part of my decision on which card to use. A service fee, on the other hand, would affect me. THAT I would care about.

 

[Tozzie]

The $10 Account Service Charge was added to DH's Chase Travel Rewards card. My Disney Rewards card had the arbitrary interest rate increase. Not sure if the minimum payment % increased. I'm going to call them today.

The service charge might be tied into the type of card, maybe since it is a Travel rewards card they are charging the fee for that part of it. I pay for the American express membership rewards program on a yearly basis but the amount is small compared to the benefits I have received.

 

[Dis13]

The service charge might be tied into the type of card, maybe since it is a Travel rewards card they are charging the fee for that part of it. I pay for the American express membership rewards program on a yearly basis but the amount is small compared to the benefits I have received.

No. It is a new change to the card agreement.

Sorry to go so off topic, just make sure you read all of the credit card inserts carefully. There are a lot of changes being made to credit card agreements. You have a limited amount of time to opt out.

 

[jgus]

We ave the Chase Freedom card which is 1% back on everything and 3% back on gas and groceries. Then when you get to $200 in credit, they will send you a check for $250. I don't understand it, but I just redeemed it for the 2nd time. Also, when I called to reddem it they asked me if I wanted a rate DECREASE. So I said of course! They transfered me to someone else, the guy was really helpful and now I am prime + 3%. He then gave me an additional $10 on my rewards for being a "good customer"...

 

[Dis13]

Well, I just spoke with Chase. They raised my APR so they could be competitive with other cards! What a load of BS!