I just set up my account this week, but from what I read in the program details you earn $20 for each $1,000 you spend on eligible purchases after your account has been open for 120 days, rather than earn $20 for each $1,000 you put into the account. Here's the quote from the website:
"You'll be eligible for a $20 Disney Gift Card for every $1000 you spend on qualified vacation purchases with your Disney Vacation Account prior to December 31, 2015 (date subject to extension), up to a total $500 in Disney Gift Card(s) per household. Your Disney Vacation Account must be active for a minimum of 120 days at the time of spending in order to receive this bonus. Request your Disney Gift Card(s) 4-6 weeks in advance of your vacation date to allow time for delivery to your mailing address. See FAQs for complete details."
It's still a good deal and a great way to combine all the $50 gift cards I'm accumulating. Today I bought $300 in Target gift cards from Raise.com for 5% off, using my Discover card for an additional 5% cash back, then turned around and bought $300 of Disney gift cards for another 5% off because of my Red card discount for a total of 15% off.
I think we are saying the same thing? What I understand is your account must be open 120 days before you can earn any type of gift card. However 1k doesn't have to be in there to earn 1K. This is how it was explained to me by someone who has successfully used it for two trips. Is this what you are saying?