Earlier this year, Disney announced a deal with VISA for a credit card. The press release made mention of earning points for discounts on vacations, videos, & merchandise. But no hard details were released. The new VISA is supposed to start 1/1/03 so I imagine in the next couple of months we'll be hearing more about it in the next couple months. As an aside to the deal with VISA, Amex will no longer be the "official card of WDW" (I imagine those discounts will be going away 12/31/02 too), and they will no longer sponsor the American Adventure at Epcot.
If you want a Disney Club card, the last date they will be issued is 12/31/02. If your card expires in 2003, you will receive benefits until that expiration date. All cards expire 12/31/03.