Disney Rewards Visa... Is it worth it?

[TheAXIOM]

So I don't own a credit card yet (a youngin', I know), and while I was at the World of Disney store in DD the clerk suggested that I look into it and possibly apply.

From all those people that have experience in this department (credit cards in general, even), are the rewards worth it with this Chase card, or should I look into applying for another one?

 

[lisah0711]

The only way a rewards charge card, Disney or otherwise, is worth it is if you always, always, always pay it off in full every month. They make much more off the high interest if you carry a balance than they give away in rewards. If it was my first charge card, I would look for a low interest card through my credit union or someplace like that. Good luck with your decision.

 

[DangerMouse]

OT: AXIOM, I love your new Tag! Good job Tag Fairy!

 

[Hester]

I have a Disney Visa, but it's up to you if it's worth it.

You'll get 1% back in "rewards" ($1 for every $100 charged) and the standard 10% discount on rooms (same as an Annual Pass or AAA.) There are a couple other perks, like free stroller rental and a character meet & greet + picture in DCA.

I have yet to see other great discounts, particularly for rooms, offered only to Disney Visa card holders. This is sort of what I expected when I signed up and have been disappointed by it. Having an Annual Pass unlocks more rewards and discounts in my opinion.

Separately, you should probably get a credit card of some sort in order to establish a credit history. I did so when I was 18 with a secured card, meaning I had to pay my credit line up front (I had no credit history.) In a years time, I was offered credit and established my credit record which enabled me to buy cars and homes down the road. It's very important for a young person to establish a credit history - but be responsible, make your payments on time and don't treat it like free money.

 

[2ndStar]

Hear, hear to all that lisah said: ALWAYS pay it off each month. Having said that, I must confess that I LOVE my Disney Visa. I just started using it in mid-June and I will have over $100 of Disney Rewards by my next statement. I get free strollers, the DCA Meet N Greet, and discounts at many Disney restaurants with it as well. I also got a $50 gift card when I first signed up, so I've made a GREAT amount of Disney savings with it so far. I always pay it off (I check it every day or so and then immediately issue a payment from my online banking account for any new transactions), so have never paid a penney in interest. A GREAT tool for Disney perks. But NEVER keep a balance on it - the card has a 20.49% interest rate!!!

Keep in mind that many other cards also offer a 1% rewards program where you can get cash back rather than the 1% Disney Rewards. If you like the idea of cash rather than Disney credits, do a bit of research. I used to use my Citi credit card for 1% rewards (used to be 3%!!) and would do the same thing - charge everything to it, pay it off regularly, and then get a check BACK from them every so often. So look around if you want the $$.

I just get a little thrill with each purchase I make with my Disney visa knowing it makes our next DL trip that much sweeter (and cheaper!).

 

[TheAXIOM]

Thanks for all the feedback everyone, I really appreciate it .

It sounds like the rewards really don't seem to add up unless you're an avid buyer ($1 for $100? ). But I guess with gas prices these days, it shouldn't be a problem having to rack up the point.

Thanks again everyone!

 

[TheAXIOM]

OT: AXIOM, I love your new Tag! Good job Tag Fairy!

*Ahem* thank you kindly DangerMouse

 

[mommy2allyandaveri]

It is SO worth it. We charge as much as we can and pay it off every month. This trip we will go with over $400 of "free" money. This will probably pay for almost all of our food.

 

[TheAXIOM]

Wow! That's a whole lotta "free" money!

...So how much do you actually have to pay if you don't pay on time?

 

[Mr. Pig]

There are some cards out there that give better rewards (can't name any myself) but this is usually balanced by having a higher interest rate. I got a Disney Visa because the MasterCard that I had previously - actually I still have it but really never use it - didn't give any rewards. Since I pay it off each month in full, anything extra I can get is good.

There has been a lot of good advise so far in this thread.

 

[mommy2allyandaveri]

Wow! That's a whole lotta "free" money!

...So how much do you actually have to pay if you don't pay on time?

Actually I'm not even sure what the interest rate is because I have NEVER paid interest on the card. As soon as I make a purchase i go home and send a payment, just as if I had used my debit card. That way I don't have a big payment at the end of the month.

 

[northshoremama]

i'm actually considering getting a disney rewards card, too...especially since we just upgraded to APs last week and expect to be back at DL at 3-4 more times in the next year. i've seen a couple different offers...where you can get a $50 gift card if you sign up...the other offer was for a $40 gift card.

 

[JenDisneylandlver]

Heck yeah! Love the Disney reward dollars that I get from it. Helps with all the things I want to buy at DL!

 

[LavenderPeach]

I just got the Disney Visa for the sole purpose of getting the free stroller rental. But I like using my regular cash back card for everything so that I get cash that i can use anywhere (including DL!). I personally would rather be able to spend my reward anywhere and not be restricted to only spending it on disney things. I use my card for everything (groceries, gas, bills when I can, etc) so that I can get as much cash back as possible. And I agree with PPs who said it's important to pay the balance off every month. I'm too cheap to pay interest. I figure if i'm getting something on sale, why would i want to increase the price later on my credit card?

I'm also wondering if they would approve you for a disney visa if you don't already have a credit card. You might have to find an "entry level" card of some sort to start you off.

 

[olivejuice]

the free stoller rental is worth it.

 

[ColoradoMom!!]

I personally would rather be able to spend my reward anywhere and not be restricted to only spending it on disney things. I use my card for everything (groceries, gas, bills when I can, etc) so that I can get as much cash back as possible.

That's it exactly. The best card out there if you are a Costco member is the American Express True Earnings. I get 3% back on gas, 3% back on eating out, 2% on Travel, and 1% on everything else. No annual fee, pay it off each month, and I end up with a huge rebate check every year. You cash it at Costco - but it is cash. Also, there are card beneifts that cover some loss like in renting a car, etc.

Like everyone has said - just be so careful to only spend what you can pay off. However, getting and using it wisely is a good way to start earning a good credit history.

 

[hulamom]

I love my Disney Visa. We've had it for years, pay it off every month, and pretty much charge everything we can with it. It paid for our DL park tickets 3 years ago, our resort stay at WDW last summer, and this upcoming trip (Nov 7-11) will pretty much pay for our DLH stay *and* park hoppers.

Others have mentioned the other perks like free stroller rentals, along with merchandise and restaurant discounts which are nice as well. We also sometimes get special vacation deals that aren't available to the general public, or are offered before everybody else gets the offer.

About a year ago, there was a special double-points offer. If you charge over a certain amount in gas & groceries (not hard to do these days) you got double points.

For us, it's worth it while we continue to make Disney trips and the kids are young. When the kids get older, we may consider switching to one of those "1% goes to your kids' 529 plan" cards.

-- Hulamom

 

[disney-inspired]

So I don't own a credit card yet (a youngin', I know), and while I was at the World of Disney store in DD the clerk suggested that I look into it and possibly apply.

From all those people that have experience in this department (credit cards in general, even), are the rewards worth it with this Chase card, or should I look into applying for another one?

As much as I love the DDRDs, it's not worth it unless you are putting your house, car, rent, groceries, or insurance payments on there. I'm in a lot of debt trying to get those DDRDs. I suggest a student friendly CC if you must get one. Otherwise I suggest NO credit cards....believe me they are more trouble than they are worth.

Who knows when I'll be done paying off mine.

 

[mommy2allyandaveri]

As much as I love the DDRDs, it's not worth it unless you are putting your house, car, rent, groceries, or insurance payments on there. I'm in a lot of debt trying to get those DDRDs. I suggest a student friendly CC if you must get one. Otherwise I suggest NO credit cards....believe me they are more trouble than they are worth.

Who knows when I'll be done paying off mine.

I'm not sure what DDRD's are but some of this isn't necessarily true. I have NEVER been able to charge my mtg pmt, homeowners payment or car payment on a credit card. The points I rach up are daily use with some larger purchases, like car insurance, but really that would only give me 10 points per year.

 

[disney-inspired]

I'm not sure what DDRD's are but some of this isn't necessarily true. I have NEVER been able to charge my mtg pmt, homeowners payment or car payment on a credit card. The points I rach up are daily use with some larger purchases, like car insurance, but really that would only give me 10 points per year.

What I meant was pay a bill monthly that has a high dollar value.

DDRD are disney dream reward dollars.
You only get 1 ddrd for every 100 that you spend.